Bourgeon Capital Management LLC Has $224,000 Position in Clovis Oncology (CLVS)
Bourgeon Capital Management LLC decreased its position in Clovis Oncology (NASDAQ:CLVS) by 12.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,450 shares of the biopharmaceutical company’s stock after selling 1,700 shares during the period. Bourgeon Capital Management LLC’s holdings in Clovis Oncology were worth $224,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its holdings in Clovis Oncology by 37.9% in the second quarter. PNC Financial Services Group Inc. now owns 7,483 shares of the biopharmaceutical company’s stock valued at $339,000 after buying an additional 2,056 shares during the period. Pacer Advisors Inc. acquired a new position in Clovis Oncology in the third quarter valued at $226,000. Zeke Capital Advisors LLC acquired a new position in Clovis Oncology in the third quarter valued at $268,000. Comerica Bank acquired a new position in Clovis Oncology in the third quarter valued at $241,000. Finally, Marshall Wace LLP acquired a new position in Clovis Oncology in the third quarter valued at $423,000.
In other Clovis Oncology news, insider Lindsey Rolfe sold 1,728 shares of the company’s stock in a transaction dated Thursday, December 20th. The shares were sold at an average price of $17.72, for a total value of $30,620.16. Following the completion of the sale, the insider now directly owns 17,600 shares of the company’s stock, valued at approximately $311,872. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 10.20% of the company’s stock.
Clovis Oncology (NASDAQ:CLVS) last issued its quarterly earnings data on Tuesday, October 30th. The biopharmaceutical company reported ($1.71) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.60) by ($0.11). Clovis Oncology had a negative return on equity of 108.92% and a negative net margin of 390.65%. The firm had revenue of $22.76 million during the quarter, compared to the consensus estimate of $30.11 million. During the same period in the previous year, the company posted ($1.24) earnings per share. The company’s revenue for the quarter was up 35.4% on a year-over-year basis. On average, sell-side analysts forecast that Clovis Oncology will post -6.92 EPS for the current fiscal year.
Several brokerages have recently weighed in on CLVS. ValuEngine lowered shares of Clovis Oncology from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. Piper Jaffray Companies dropped their price objective on shares of Clovis Oncology to $18.00 and set a “neutral” rating on the stock in a report on Wednesday, October 31st. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Clovis Oncology in a report on Tuesday, October 2nd. Zacks Investment Research lowered shares of Clovis Oncology from a “hold” rating to a “sell” rating in a report on Thursday, January 3rd. Finally, BidaskClub lowered shares of Clovis Oncology from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 24th. Two analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $56.32.
Clovis Oncology Profile
Clovis Oncology, Inc, a biopharmaceutical company, focuses on acquiring, developing, and commercializing anti-cancer agents in the United States, Europe, and internationally. Its commercial product includes Rubraca (rucaparib) tablet, a small molecule poly ADP-ribose polymerase inhibitor, used as monotherapy for the treatment of patients with deleterious BRCA mutation associated advanced ovarian cancer, who have been treated with two or more chemotherapies, and selected for therapy by an FDA-approved companion diagnostic for Rubraca.
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