Clovis Oncology Inc. [NASDAQ: CLVS] closed the trading session at $5.49 on 05/18/21. The day’s price range saw the stock hit a low of $5.49, while the highest price level was $5.7927. The company report on May 18, 2021 that Clovis Oncology Announces At-The-Market Equity Offering Program.
Clovis Oncology, Inc. (NASDAQ:CLVS) announced that it has filed a prospectus supplement with the U.S. Securities and Exchange Commission (“SEC”), under which it may offer and sell, from time to time, shares of its common stock having an aggregate offering price of up to $75,000,000 million through an “at-the-market” equity offering program (the “ATM Program”). The timing and amount of any sales will be determined by a variety of factors considered by Clovis Oncology.
Shares of Clovis Oncology common stock will be offered through J.P. Morgan Securities LLC (“JPM”) and BofA Securities, Inc. (“BofA Securities”), who are serving as the distribution agents. JPM and BofA Securities may sell the shares of our common stock by any method deemed to be an “at-the-market offering” defined by Rule 415(a)(4) of the Securities Act of 1933, as amended, including without limitation, sales in ordinary brokers’ transactions, including directly on the Nasdaq Global Select Market or into any other existing trading market for the shares, or to or through a market maker, in block transactions or by any other method permitted by law, including negotiated transactions and to JPM and BofA Securities as principals for their own account. Sales may be made at market prices prevailing at the time of a sale or at prices related to prevailing market prices or at negotiated prices. As a result, sales prices may vary.
The stocks have a year to date performance of 14.37 percent and weekly performance of -2.14 percent. The stock has been moved at 28.87 percent over the last six months. The stock has performed -5.02 percent around the most recent 30 days and changed -22.89 percent over the most recent 3-months.
If compared to the average trading volume of 11.22M shares, CLVS reached to a volume of 4599378 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Clovis Oncology Inc. [CLVS]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CLVS shares is $7.13 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CLVS stock is a recommendation set at 3.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
H.C. Wainwright have made an estimate for Clovis Oncology Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 18, 2020. The new note on the price target was released on April 27, 2020, representing the official price target for Clovis Oncology Inc. stock. Previously, the target price had yet another raise to $6, while BofA/Merrill analysts kept a Underperform rating on CLVS stock. On January 08, 2020, analysts decreased their price target for CLVS shares from 36 to 27.
The Average True Range (ATR) for Clovis Oncology Inc. is set at 0.41, with the Price to Sales ratio for CLVS stock in the period of the last 12 months amounting to 3.34.
CLVS stock trade performance evaluation
Clovis Oncology Inc. [CLVS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.14. With this latest performance, CLVS shares dropped by -5.02% in over the last four-week period, additionally plugging by 28.87% over the last 6 months – not to mention a drop of -38.73% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CLVS stock in for the last two-week period is set at 42.01, with the RSI for the last a single of trading hit 40.36, and the three-weeks RSI is set at 43.60 for Clovis Oncology Inc. [CLVS]. The present Moving Average for the last 50 days of trading for this stock 6.15, while it was recorded at 5.71 for the last single week of trading, and 5.87 for the last 200 days.
Clovis Oncology Inc. [CLVS]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Clovis Oncology Inc. [CLVS] shares currently have an operating margin of -183.68 and a Gross Margin at +74.89. Clovis Oncology Inc.’s Net Margin is presently recorded at -224.41.
Return on Total Capital for CLVS is now -58.76, given the latest momentum, and Return on Invested Capital for the company is -77.43. Additionally, CLVS Total Debt to Total Capital is recorded at 132.52, with Total Debt to Total Assets ending up at 105.60.
Reflecting on the efficiency of the workforce at the company, Clovis Oncology Inc. [CLVS] managed to generate an average of -$860,634 per employee. Receivables Turnover for the company is 5.04 with a Total Asset Turnover recorded at a value of 0.26.Clovis Oncology Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.50.
Earnings per share (EPS) analysis for Clovis Oncology Inc. [CLVS] stock
With the latest financial reports released by the company, Clovis Oncology Inc. posted -1.15/share EPS, while the average EPS was predicted by analysts to be reported at -1.04/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -10.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CLVS. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Clovis Oncology Inc. go to 63.10%.
Clovis Oncology Inc. [CLVS]: Insider Ownership positions
There are presently around $275 million, or 52.10% of CLVS stock, in the hands of institutional investors. The top three institutional holders of CLVS stocks are: STATE STREET CORP with ownership of 9,892,877, which is approximately -31.942% of the company’s market cap and around 0.40% of the total institutional ownership; BLACKROCK INC., holding 7,819,010 shares of the stock with an approximate value of $42.93 million in CLVS stocks shares; and VANGUARD GROUP INC, currently with $41.85 million in CLVS stock with ownership of nearly 19.344% of the company’s market capitalization.
Positions in Clovis Oncology Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 85 institutional holders increased their position in Clovis Oncology Inc. [NASDAQ:CLVS] by around 7,797,530 shares. Additionally, 75 investors decreased positions by around 12,841,912 shares, while 37 investors held positions by with 29,503,983 shares. The mentioned changes placed institutional holdings at 50,143,425 shares, according to the latest SEC report filing. CLVS stock had 39 new institutional investments in for a total of 1,558,575 shares, while 31 institutional investors sold positions of 4,915,779 shares during the same period.