SSgA Funds Management, Inc. recently announced the acquisition of new stake in Clovis Oncology Inc. (NASDAQ:CLVS). The institutional investor has increased its shareholding in the Healthcare company by 151.72% to 9.24 million shares with purchase of 5.57 million shares. This fresh investment now brings its stake to 10.50% valued currently at $53.49 million. In addition, The Vanguard Group, Inc. raised its holdings by 1.68 million to 6.01 million shares. And BlackRock Fund Advisors has lifted its position by 42.70% or 1.46 million shares – to 4.89 million shares.
With over 3.26 million Clovis Oncology Inc. (CLVS) shares trading Monday and a closing price of $5.21 on the day, the dollar volume was approximately $16.98 million. The shares have shown a positive weekly performance of 3.58% and its price on 08/31/20 gained nearly 0.39%. Currently, there are 88.20M common shares owned by the public and among those 85.08M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for CLVS have a consensus price objective of $8.67. The analysts have set the share’s price value over the next 12 months at a high of $23.00 and a low of $4.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Clovis Oncology Inc. stock is 3.10 for the next 12 months. But an upside of 77.35% will see the stock hit the forecast high price target while mean target price for the stock is $6.00.
Insiders at the company have transacted a total of 120 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 60 of these insider trades were purchases, accounting for 153,635 shares. Insider sales of the common stock occurred on 60 occasions, with total insider shares sold totaling 71,596 shares.
The top 3 mutual fund holders in Clovis Oncology Inc. are SPDR S&P Biotech ETF, Vanguard Total Stock Market Index, and iShares Russell 2000 ETF. SPDR S&P Biotech ETF owns 8.59 million shares of the company’s stock, all valued at over $49.75 million. The company sold 86079.0 shares recently to bring their total holdings to about 9.76% of the shares outstanding. Vanguard Total Stock Market Index bought 762.0 shares to see its total holdings expand to 2.42 million shares valued at over $13.98 million and representing 2.75% of the shares outstanding. iShares Russell 2000 ETF sold 69020.0 shares to bring its total holdings to over 1.48 million shares at a value of $8.56 million. iShares Russell 2000 ETF now owns shares totaling to 1.68% of the shares outstanding.
Shares of Clovis Oncology Inc. (NASDAQ: CLVS) opened at $5.21, up $0.02 from a prior closing price of $5.19. However, the script later closed the day at $5.21, up 0.39%. The company’s stock has a 5-day price change of 3.58% and -25.36% over the past three months. CLVS shares are trading -50.02% year to date (YTD), with the 12-month market performance down to -7.13% lower. It has a 12-month low price of $2.93 and touched a high of $17.37 over the same period. Currently, 3.26 million shares have been traded, compared to an average intraday trading volume of 4.64 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.95%, -14.82%, and -33.81% respectively.
Institutional ownership of Clovis Oncology Inc. (NASDAQ: CLVS) shares accounts for 55.20% of the company’s 88.20M shares outstanding. Mutual fund holders own 27.60%, while other institutional holders and individual stakeholders account for 5.12% and 26.30% respectively.
It has a market capitalization of $452.44M and a beta (3y monthly) value of 2.25. The earnings-per-share (ttm) stands at -$6.07. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.00% over the week and 7.34% over the month.
Analysts forecast that Clovis Oncology Inc. (CLVS) will achieve an EPS of -$1 for the current quarter, -$0.9 for the next quarter and -$2.54 for 2021. The lowest estimate earnings-per-share for the quarter is -$1.11 while analysts give the company a high EPS estimate of -$0.91. Comparatively, EPS for the current quarter was -$1.72 a year ago. Earnings per share for the fiscal year are expected to decrease by -5.20%, and 44.80% over the next financial year. EPS should grow at an annualized rate of 71.60% over the next five years, compared to -9.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate Clovis Oncology Inc. (CLVS) as a “Hold” at a consensus score of 3.10. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 4 of the 8 advise that investors “hold,” and 2 rated it as a “Sell.”
Looking at the support for the CLVS, a number of firms have released research notes about the stock. H.C. Wainwright stated their Buy rating for the stock in a research note on May 18, 2020, with the firm’s price target at $29-$33. SVB Leerink coverage for the Clovis Oncology Inc. (CLVS) stock in a research note released on April 27, 2020 offered a Underperform rating with a price target of $5. BofA/Merrill was of a view on April 09, 2020 that the stock is Underperform, while H.C. Wainwright gave the stock Buy rating on January 08, 2020, issuing a price target of $36- $27. Evercore ISI on their part issued In-line rating on November 19, 2019.