Renaissance Technologies LLC Boosts Stake in Clovis Oncology, Inc. (CLVS)

Renaissance Technologies LLC boosted its position in shares of Clovis Oncology, Inc. (NASDAQ:CLVS) by 86.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 153,400 shares of the biopharmaceutical company’s stock after buying an additional 71,300 shares during the period. Renaissance Technologies LLC owned approximately 0.34% of Clovis Oncology worth $9,767,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Moody Aldrich Partners LLC purchased a new position in shares of Clovis Oncology during the first quarter worth approximately $688,000. Hamilton Lane Advisors LLC purchased a new position in shares of Clovis Oncology during the first quarter worth approximately $226,000. Nationwide Fund Advisors boosted its position in shares of Clovis Oncology by 11.7% in the first quarter. Nationwide Fund Advisors now owns 42,870 shares of the biopharmaceutical company’s stock worth $2,730,000 after buying an additional 4,485 shares during the last quarter. Columbus Circle Investors purchased a new position in shares of Clovis Oncology during the first quarter worth approximately $3,554,000. Finally, Capital Impact Advisors LLC purchased a new position in shares of Clovis Oncology during the first quarter worth approximately $1,236,000. 92.80% of the stock is owned by institutional investors and hedge funds.

Shares of Clovis Oncology, Inc. (NASDAQ:CLVS) traded down 0.15% on Wednesday, reaching $71.77. The company had a trading volume of 1,113,923 shares. The firm’s market capitalization is $3.51 billion. The firm has a 50-day moving average price of $85.80 and a 200 day moving average price of $67.31. Clovis Oncology, Inc. has a 1-year low of $15.87 and a 1-year high of $99.45.

Clovis Oncology (NASDAQ:CLVS) last issued its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($1.29) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.27) by $0.02. The business had revenue of $14.62 million during the quarter, compared to the consensus estimate of $13.07 million. The business’s revenue was down 32.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($2.07) EPS. Equities research analysts predict that Clovis Oncology, Inc. will post ($7.51) earnings per share for the current year.

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A number of brokerages have commented on CLVS. Cann reissued a “hold” rating on shares of Clovis Oncology in a report on Monday, July 31st. Oppenheimer Holdings, Inc. began coverage on Clovis Oncology in a report on Friday, June 23rd. They set a “market perform” rating for the company. Zacks Investment Research cut Clovis Oncology from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. SunTrust Banks, Inc. reissued a “buy” rating on shares of Clovis Oncology in a report on Thursday, June 22nd. Finally, Gabelli initiated coverage on Clovis Oncology in a report on Friday, July 7th. They issued a “buy” rating and a $125.00 price target for the company. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $81.91.

In other Clovis Oncology news, Director James C. Blair sold 18,450 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $78.61, for a total value of $1,450,354.50. Following the completion of the transaction, the director now directly owns 2,185 shares in the company, valued at approximately $171,762.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gillian C. Ivers-Read sold 3,000 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $61.82, for a total value of $185,460.00. Following the completion of the transaction, the insider now owns 200,583 shares of the company’s stock, valued at $12,400,041.06. The disclosure for this sale can be found here. Insiders sold a total of 27,450 shares of company stock valued at $2,120,645 over the last quarter. 17.40% of the stock is currently owned by insiders.

Clovis Oncology Company Profile

Clovis Oncology, Inc is a biopharmaceutical company focused on acquiring, developing and commercializing anti-cancer agents in the United States, Europe and other international markets. The Company’s product candidates include Rociletinib, Rubraca (Rucaparib) and Lucitanib. Rucaparib is an oral, small molecule poly adenosine diphosphate (ADP)-ribose polymerase (PARP) inhibitor of PARP1, PARP2 and PARP3 approved as a monotherapy for the treatment of patients with deleterious breast cancer (BRCA) (human genes associated with the repair of damaged deoxyribonucleic acid (DNA)) mutation (germline and/or somatic) associated advanced ovarian cancer.