Equities research analysts at StockNews.com initiated coverage on shares of Clovis Oncology (NASDAQ:CLVS – Get Rating) in a research report issued on Thursday. The brokerage set a "hold" rating on the biopharmaceutical company's stock.

Separately, JPMorgan Chase & Co. cut Clovis Oncology from a "neutral" rating to an "underweight" rating in a research note on Wednesday, November 9th.

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Clovis Oncology Trading Down 7.0 %

Shares of CLVS opened at $0.08 on Thursday. The firm has a fifty day moving average price of $0.43 and a 200-day moving average price of $1.12. The firm has a market capitalization of $11.60 million, a P/E ratio of -0.04 and a beta of 0.24. Clovis Oncology has a 12-month low of $0.08 and a 12-month high of $3.32.

Clovis Oncology (NASDAQ:CLVS – Get Rating) last announced its quarterly earnings data on Wednesday, November 9th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, beating analysts' consensus estimates of ($0.42) by $0.03. The company had revenue of $30.66 million for the quarter, compared to the consensus estimate of $34.79 million. Analysts predict that Clovis Oncology will post -1.68 earnings per share for the current year.

Institutional Investors Weigh In On Clovis Oncology

Hedge funds have recently made changes to their positions in the stock. First Republic Investment Management Inc. purchased a new stake in shares of Clovis Oncology during the first quarter valued at about $27,000. Mirabella Financial Services LLP purchased a new position in Clovis Oncology during the first quarter valued at approximately $36,000. Objective Capital Management LLC acquired a new stake in Clovis Oncology during the second quarter valued at $44,000. Bank of Montreal Can acquired a new stake in Clovis Oncology in the first quarter valued at approximately $48,000. Finally, Virtu Financial LLC acquired a new position in shares of Clovis Oncology during the 3rd quarter worth about $64,000. 24.53% of the stock is currently owned by hedge funds and other institutional investors.

About Clovis Oncology

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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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