Clovis Oncology Inc. [CLVS] moved up 8.50: Why It’s Important


Clovis Oncology Inc. [NASDAQ: CLVS] gained 8.50% or 0.13 points to close at $1.66 with a heavy trading volume of 30718115 shares. The company report on March 16, 2022 that Clovis Oncology and Evergreen Theragnostics Initiate Development and Manufacturing Services Agreement for Actinium-225-Labeled FAP-2286.

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Clovis Oncology, Inc. (NASDAQ: CLVS) today announced the initiation of a development, manufacturing, and services agreement with Evergreen Theragnostics to develop actinium-225-labeled-FAP-2286 (225Ac-FAP-2286). Under the agreement, Clovis and Evergreen intend to develop radiolabeling chemistry and analytical methods for use in potential future pre-clinical and clinical studies.

“This agreement with Evergreen Theragnostics represents an important step forward for Clovis in our efforts to optimize our clinical development program for FAP-2286,” said Patrick J. Mahaffy, President and CEO of Clovis Oncology. “We are enthusiastic about exploring the potential of FAP-2286 labeled with actinium-225 in our targeted radiopharmaceuticals program. Actinium-225 represents an emerging radionuclide that is generating significant interest for its potential for therapeutic use.”.

It opened the trading session at $1.50, the shares rose to $1.74 and dropped to $1.50, the range by which the price of stock traded the whole day. The daily chart for CLVS points out that the company has recorded -65.70% loss over the past six months. However, it is still -22.96% lower than its most recent low trading price.

If we look at the average trading volume of 4.46M shares, CLVS reached to a volume of 30718115 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $3.17 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 3.20. 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 0.17, with the Price to Sales ratio for CLVS stock in the period of the last 12 months amounting to 1.46.

Trading performance analysis for CLVS stock

Clovis Oncology Inc. [CLVS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.06. With this latest performance, CLVS shares dropped by -13.54% in over the last four-week period, additionally sinking by -65.70% over the last 6 months – not to mention a drop of -78.88% 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 46.77, with the RSI for the last a single of trading hit 51.14, and the three-weeks RSI is set at 44.42 for Clovis Oncology Inc. [CLVS]. The present Moving Average for the last 50 days of trading for this stock 1.9608, while it was recorded at 1.5020 for the last single week of trading, and 3.8220 for the last 200 days.

Clovis Oncology Inc. [CLVS]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Clovis Oncology Inc. [CLVS] shares currently have an operating margin of -148.09 and a Gross Margin at +73.90. Clovis Oncology Inc.’s Net Margin is presently recorded at -177.82.

Clovis Oncology Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 1.60.

An analysis of insider ownership at Clovis Oncology Inc. [CLVS]

There are presently around $110 million, or 47.50% of CLVS stock, in the hands of institutional investors. The top three institutional holders of CLVS stocks are: STATE STREET CORP with ownership of 16,114,542, which is approximately 9.811% of the company’s market cap and around 0.40% of the total institutional ownership; VANGUARD GROUP INC, holding 10,115,101 shares of the stock with an approximate value of $16.79 million in CLVS stocks shares; and BLACKROCK INC., currently with $16.16 million in CLVS stock with ownership of nearly 2.501% of the company’s market capitalization.

Positions in Clovis Oncology Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 79 institutional holders increased their position in Clovis Oncology Inc. [NASDAQ:CLVS] by around 9,395,520 shares. Additionally, 66 investors decreased positions by around 5,039,251 shares, while 37 investors held positions by with 51,626,871 shares. The mentioned changes placed institutional holdings at 66,061,642 shares, according to the latest SEC report filing. CLVS stock had 25 new institutional investments in for a total of 2,013,504 shares, while 26 institutional investors sold positions of 645,463 shares during the same period.