Millennium Management LLC Invests $17.65 Million in Clovis Oncology (CLVS)

Millennium Management LLC acquired a new stake in Clovis Oncology (NASDAQ:CLVS) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 259,592 shares of the biopharmaceutical company’s stock, valued at approximately $17,652,000.

Several other institutional investors have also made changes to their positions in the company. Franklin Resources Inc. boosted its stake in shares of Clovis Oncology by 13.8% in the 4th quarter. Franklin Resources Inc. now owns 2,634,401 shares of the biopharmaceutical company’s stock valued at $179,138,000 after purchasing an additional 318,931 shares in the last quarter. Orbimed Advisors LLC boosted its stake in shares of Clovis Oncology by 13.5% in the 3rd quarter. Orbimed Advisors LLC now owns 2,388,670 shares of the biopharmaceutical company’s stock valued at $196,826,000 after purchasing an additional 284,300 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Clovis Oncology by 4.3% in the 4th quarter. Alliancebernstein L.P. now owns 1,002,897 shares of the biopharmaceutical company’s stock valued at $68,197,000 after purchasing an additional 41,120 shares in the last quarter. HealthCor Management L.P. boosted its stake in shares of Clovis Oncology by 50.4% in the 4th quarter. HealthCor Management L.P. now owns 973,840 shares of the biopharmaceutical company’s stock valued at $66,221,000 after purchasing an additional 326,420 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of Clovis Oncology by 0.6% in the 4th quarter. Jennison Associates LLC now owns 603,672 shares of the biopharmaceutical company’s stock valued at $41,050,000 after purchasing an additional 3,503 shares in the last quarter.

How to Become a New Pot Stock Millionaire

Shares of NASDAQ CLVS opened at $52.80 on Monday. The company has a current ratio of 7.69, a quick ratio of 7.35 and a debt-to-equity ratio of 0.77. Clovis Oncology has a 12 month low of $45.42 and a 12 month high of $99.45.

Clovis Oncology (NASDAQ:CLVS) last issued its quarterly earnings data on Monday, February 26th. The biopharmaceutical company reported ($1.04) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.29) by $0.25. Clovis Oncology had a negative net margin of 624.02% and a negative return on equity of 81.34%. The business had revenue of $17.04 million during the quarter, compared to analyst estimates of $19.42 million. During the same period in the prior year, the business earned ($1.83) EPS. The company’s revenue for the quarter was up 21746.2% on a year-over-year basis. sell-side analysts anticipate that Clovis Oncology will post -4.85 EPS for the current year.

A number of research firms recently commented on CLVS. BidaskClub upgraded shares of Clovis Oncology from a “strong sell” rating to a “sell” rating in a report on Thursday. Cann began coverage on shares of Clovis Oncology in a report on Friday, March 23rd. They set a “hold” rating for the company. SunTrust Banks lowered their price target on shares of Clovis Oncology from $95.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. ValuEngine upgraded shares of Clovis Oncology from a “sell” rating to a “hold” rating in a report on Friday, December 29th. Finally, Barclays set a $85.00 price target on shares of Clovis Oncology and gave the company a “buy” rating in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $88.57.

In other Clovis Oncology news, Director Thorlef Spickschen sold 4,500 shares of the company’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $64.97, for a total value of $292,365.00. Following the completion of the transaction, the director now directly owns 21,118 shares in the company, valued at approximately $1,372,036.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gillian C. Ivers-Read sold 3,000 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $54.09, for a total transaction of $162,270.00. Following the completion of the transaction, the insider now owns 180,571 shares of the company’s stock, valued at $9,767,085.39. The disclosure for this sale can be found here. Insiders sold a total of 19,500 shares of company stock valued at $1,178,730 over the last 90 days. Company insiders own 12.50% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This report was first reported by WKRB News and is the sole property of of WKRB News. If you are reading this report on another website, it was illegally copied and reposted in violation of US & international trademark and copyright laws. The original version of this report can be accessed at https://www.wkrb13.com/2018/04/02/millennium-management-llc-invests-17-65-million-in-clovis-oncology-clvs.html.

About Clovis Oncology

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.

Want to see what other hedge funds are holding CLVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Clovis Oncology (NASDAQ:CLVS).

Institutional Ownership by Quarter for Clovis Oncology (NASDAQ:CLVS)

Receive News & Ratings for Clovis Oncology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clovis Oncology and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply