The President & CEO of Clovis Oncology (NASDAQ: CLVS) is Buying Shares

By Carrie Williams

Today, the President & CEO of Clovis Oncology (CLVSResearch Report), Patrick Mahaffy, bought shares of CLVS for $279.6K.

Following this transaction Patrick Mahaffy’s holding in the company was increased by 5.74% to a total of $5.18 million. In addition to Patrick Mahaffy, 3 other CLVS executives reported Buy trades in the last month.

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Based on Clovis Oncology’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $32.98 million and GAAP net loss of $120 million. In comparison, last year the company earned revenue of $23.76 million and had a GAAP net loss of $101 million. The company has a one-year high of $37.27 and a one-year low of $4.98.

Three different firms, including Barclays and RBC Capital, currently also have a Buy rating on the stock.

The insider sentiment on Clovis Oncology has been positive according to 39 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.

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Clovis Oncology, Inc. is a commercial stage biotechnology company, which engages in the acquisition, development, and commercialization of cancer treatments in the United States, Europe, and other markets. Its product development programs target specific subsets of cancer, and simultaneously develop, with partners, diagnostic tools intended to direct a compound in development to the patients most likely to benefit from its use. The company was founded by Andrew R. Allen, Gillian C. Ivers-Read, Patrick J. Mahaffy, and Erle T. Mast on April 20, 2009 and is headquartered in Boulder, CO.