Is It Right Time to Be Bearish on Clovis Oncology Inc. (NASDAQ:CLVS), Organovo Holdings Inc. (NASDAQ:ONVO)?

The shares of Clovis Oncology Inc. (NASDAQ:CLVS) has been pegged with a rating of Buy by H.C. Wainwright in its latest research note that was published on January 08, 2020. The Healthcare company has also assigned a $27 price target. H.C. Wainwright wasn’t the only research firm that published a report of Clovis Oncology Inc., with other equities research analysts also giving their opinion on the stock. Evercore ISI advised investors in its research note published on November 19, 2019, to In-line the CLVS stock while also putting a $8 price target. The stock had earned Mkt Perform rating from SVB Leerink Markets when it published its report on September 24, 2019. That day the SVB Leerink set price target on the stock to $10. Guggenheim was of a view that CLVS is Neutral in its latest report on August 02, 2019. Goldman thinks that CLVS is worth Sell rating.

Amongst the analysts that rated the stock, 1 have recommended investors to sell it, 6 believe it has the potential for further growth, thus rating it as Hold while 3 advised investors to purchase the stock. The consensus currently stands at a Hold while its average price target is $13.53. The price of the stock the last time has raised by 51.19% from its 52-Week high price while it is -82.88% than its 52-Week low price. A look at the stock’s other technical shows that its 14-day RSI now stands at 35.26.

The shares of the company dipped by -5.14% during the trading session on Wednesday, reaching a low of $4.40 while ending the day at $4.43. During the trading session, a total of 7.61 million shares were traded which represents a -3.9% decline from the average session volume which is 7.32 million shares. CLVS had ended its last session trading at $4.67. CLVS 52-week low price stands at $2.93 while its 52-week high price is $25.88.

The company in its last quarterly report recorded -$1.81 earnings per share which is below the predicted by most analysts. The Clovis Oncology Inc. generated 161.83 million in revenue during the last quarter. In the second quarter last year, the firm recorded -$1.89 earnings per share. Compared to the same quarter last year, the firm’s revenue was up by 9.94%. Clovis Oncology Inc. has the potential to record -4.67 EPS for the current fiscal year, according to equities analysts.

Investment analysts at H.C. Wainwright published a research note on December 13, 2018 where it informed investors and clients that Organovo Holdings Inc. (NASDAQ:ONVO) is now rated as Buy. Their price target on the stock stands at $2.50. Even though the stock has been trading at $0.25/share, analysts expect it to surge by 8.17% to reach $3.00/share. It started the day trading at $0.2849 and traded between $0.25 and $0.27 throughout the trading session.

A look at its technical shows that ONVO’s 50-day SMA is 0.3215 while its 200-day SMA stands at 0.3677. The stock has a high of $1.10 for the year while the low is $0.19. The stock, however, witnessed a rise in its short on 03/13/20. Compared to previous close which recorded 1.99 M shorted shares, the short percentage went higher by 15.09%, as 2.29M CLVS shares were shorted. The company’s average trading volume currently stands at 572.54K shares, which means that the short-interest ratio is just 3.47 days. Over the past seven days, the company moved, with its shift of 29.81%. Looking further, the stock has dropped -36.87% over the past 90 days while it gained 3.49% over the last six months.

The change in the stock’s fortunes has led to several institutional investors altering their holdings of the stock. The ARK Investment Management LLC bought more ONVO shares, increasing its portfolio by 2.91% during the last quarter. This move now sees The ARK Investment Management LLC purchasing 550,517 shares in the last quarter, thus it now holds 19,499,439 shares of ONVO, with a total valuation of $6,298,319.

Similarly, Nikko Asset Management Co., Ltd. decreased its Organovo Holdings Inc. shares by 0.00% during the recently filed quarter. After selling 12,807,832 shares in the last quarter, the firm now controls 0 shares of Organovo Holdings Inc. which are valued at $4,136,930. In the same vein, Renaissance Technologies LLC decreased its Organovo Holdings Inc. shares by during the most recent reported quarter. The firm bought 591,174 shares during the quarter which decreased its stakes to 7,023,760 shares and is now valued at $2,268,674. Following these latest developments, around 0.50% of Organovo Holdings Inc. stocks are owned by institutional investors and hedge funds.