Clovis Oncology (NASDAQ:CLVS) had its price objective cut by investment analysts at HC Wainwright from $15.00 to $13.00 in a report released on Tuesday, The Fly reports. The firm currently has a "buy" rating on the biopharmaceutical company's stock. HC Wainwright's target price indicates a potential upside of 116.67% from the stock's previous close.
Other analysts have also recently issued research reports about the company. Piper Sandler decreased their target price on Clovis Oncology from $6.00 to $5.00 and set a "neutral" rating for the company in a research report on Thursday, November 5th. JPMorgan Chase & Co. reaffirmed a "hold" rating on shares of Clovis Oncology in a research report on Sunday, November 1st. Finally, SVB Leerink reduced their price objective on Clovis Oncology from $4.00 to $3.00 and set an "underperform" rating for the company in a research report on Friday, November 6th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Clovis Oncology has a consensus rating of "Hold" and a consensus price target of $8.58.
Shares of Clovis Oncology stock traded down $0.68 during midday trading on Tuesday, hitting $6.00. The company's stock had a trading volume of 382,213 shares, compared to its average volume of 9,443,767. The firm has a market capitalization of $529.91 million, a P/E ratio of -1.15 and a beta of 2.10. The stock has a 50-day simple moving average of $7.06 and a 200-day simple moving average of $5.72. Clovis Oncology has a 1-year low of $3.62 and a 1-year high of $11.10.
In related news, insider Gillian C. Ivers-Read sold 10,990 shares of Clovis Oncology stock in a transaction on Tuesday, February 2nd. The stock was sold at an average price of $7.97, for a total transaction of $87,590.30. 6.60% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. S&T Bank raised its holdings in Clovis Oncology by 100.0% during the fourth quarter. S&T Bank now owns 20,000 shares of the biopharmaceutical company's stock valued at $96,000 after buying an additional 10,000 shares in the last quarter. Squarepoint Ops LLC bought a new position in Clovis Oncology during the fourth quarter valued at about $542,000. Armistice Capital LLC raised its holdings in Clovis Oncology by 22.1% during the fourth quarter. Armistice Capital LLC now owns 2,256,000 shares of the biopharmaceutical company's stock valued at $10,829,000 after buying an additional 408,000 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in Clovis Oncology by 1.1% during the fourth quarter. Nuveen Asset Management LLC now owns 398,282 shares of the biopharmaceutical company's stock valued at $23,503,000 after buying an additional 4,425 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Clovis Oncology by 24.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 73,286 shares of the biopharmaceutical company's stock valued at $352,000 after buying an additional 14,423 shares in the last quarter. Institutional investors own 57.83% of the company's stock.
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.
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