On the second to last day before the end of the quarter, all three indexes and crude futures are higher.
Among the stocks showing more volatility than usual are TESARO Inc (NASDAQ:TSRO), Clovis Oncology Inc (NASDAQ:CLVS), PrivateBancorp Inc (NASDAQ:PVTB), Southwestern Energy Company (NYSE:SWN), and Blue Buffalo Pet Products Inc (NASDAQ:BUFF). Let’s find out why traders are watching these stocks and analyze what the smart money thinks about each stock.
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TESARO Surge on Study Results
TESARO Inc (NASDAQ:TSRO) shares have more than doubled out of the gate after a phase 3 clinical trial showed that the company’s product candidate Niraparib significantly improved the progression-free survival metric for patients with ovarian cancer. The drug successfully achieved its primary endpoint in patients who are germline BRCA mutation carriers, among patients who are not germline BRCA mutation carriers but who have homologous recombination deficient tumors, and overall in patients who are not germline BRCA mutation carriers. TESARO plans to file an NDA and MAA for the drug in the fourth quarter of 2016. Of the 766 elite funds we track, 19 funds owned $281.63 million worth of TESARO Inc (NASDAQ:TSRO)’s stock, which accounted for 15.90% of the float on March 31, versus 16 funds and $308.68 million, respectively, a quarter earlier.
Follow Tesaro Inc. (NASDAQ:TSRO)
Follow Tesaro Inc. (NASDAQ:TSRO)
Clovis Rallies on TESARO’s Coattails
Clovis Oncology Inc (NASDAQ:CLVS)’s stock has surged by 18% today as some traders pile into the stock due to TESARO’s positive Phase 3 clinical trial results. As mentioned earlier, TESARO’s product candidate Niraparib, a PARP inhibitor, significantly improved the progression-free survival metric for patients with ovarian cancer in a Phase 3 trial. Clovis’ rucaparib is a PARP inhibitor too. A total of 24 funds tracked by us were long Clovis Oncology Inc (NASDAQ:CLVS) at the end of the first quarter, unchanged from the previous quarter.
Follow Clovis Oncology Inc. (NASDAQ:CLVS)
Follow Clovis Oncology Inc. (NASDAQ:CLVS)
On the next page, we examine PrivateBancorp, Southwestern Energy Company, and Blue Buffalo Pet Products.
