Pictet Asset Management Ltd. Raises Stake in Clovis Oncology, Inc. (CLVS)
Pictet Asset Management Ltd. boosted its stake in shares of Clovis Oncology, Inc. (NASDAQ:CLVS) by 16.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 367,029 shares of the biopharmaceutical company’s stock after purchasing an additional 51,366 shares during the quarter. Pictet Asset Management Ltd. owned approximately 0.75% of Clovis Oncology worth $30,243,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Greenwood Capital Associates LLC boosted its position in Clovis Oncology by 4.0% during the 2nd quarter. Greenwood Capital Associates LLC now owns 5,485 shares of the biopharmaceutical company’s stock valued at $514,000 after purchasing an additional 212 shares during the period. Sphera Funds Management LTD. acquired a new position in Clovis Oncology during the 2nd quarter valued at approximately $8,708,000. Boston Advisors LLC acquired a new position in Clovis Oncology during the 2nd quarter valued at approximately $8,332,000. Federated Investors Inc. PA boosted its position in Clovis Oncology by 27.2% during the 2nd quarter. Federated Investors Inc. PA now owns 29,330 shares of the biopharmaceutical company’s stock valued at $2,746,000 after purchasing an additional 6,265 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its position in Clovis Oncology by 19.5% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 23,863 shares of the biopharmaceutical company’s stock valued at $2,234,000 after purchasing an additional 3,894 shares during the period. Institutional investors and hedge funds own 99.34% of the company’s stock.
CLVS has been the subject of a number of analyst reports. Cann restated a “hold” rating on shares of Clovis Oncology in a research report on Monday, September 11th. Evercore ISI initiated coverage on Clovis Oncology in a research report on Wednesday, August 16th. They set an “in-line” rating and a $73.00 price objective for the company. Royal Bank Of Canada initiated coverage on Clovis Oncology in a research report on Thursday, September 14th. They set a “sector perform” rating and a $81.00 price objective for the company. Bank of America Corporation restated a “buy” rating on shares of Clovis Oncology in a research report on Thursday, August 3rd. Finally, Gabelli initiated coverage on Clovis Oncology in a research report on Friday, July 7th. They set a “buy” rating and a $125.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $87.15.
In other news, insider Gillian C. Ivers-Read sold 3,000 shares of the business’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $69.50, for a total value of $208,500.00. Following the sale, the insider now owns 191,583 shares of the company’s stock, valued at approximately $13,315,018.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 9,000 shares of company stock worth $672,270 in the last three months. Company insiders own 12.50% of the company’s stock.
Shares of Clovis Oncology, Inc. (NASDAQ CLVS) opened at $73.59 on Friday. The company has a quick ratio of 3.23, a current ratio of 3.26 and a debt-to-equity ratio of 0.82.
Clovis Oncology (NASDAQ:CLVS) last posted its quarterly earnings data on Wednesday, November 1st. The biopharmaceutical company reported ($1.24) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.18) by ($0.06). Clovis Oncology had a negative return on equity of 144.79% and a negative net margin of 947.47%. The firm had revenue of $16.81 million during the quarter, compared to the consensus estimate of $21.12 million. During the same period in the prior year, the firm posted ($1.70) EPS. sell-side analysts predict that Clovis Oncology, Inc. will post -7.43 EPS for the current fiscal year.
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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.
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