Why Clovis Oncology Shares Got a Bump This Week

Clovis Oncology (NASDAQ: CLVS) saw its shares climb more than 12% this week. The stock was as low as $4.07 last Friday, but closed the day at $4.24. It opened at $4.27 on Monday and rose to as high as $4.78 on Thursday. Over the past 52 weeks, it has been as high as $11.10 and as low as $4.06.

The stock certainly wasn't buoyed by its fundamentals. It was coming off of disappointing second-quarter earnings. Clovis is a small-cap pharmaceutical company that focuses on oncology drugs, but sales of its only marketed drug, Rubraca, used to treat ovarian cancer, are down at the year's halfway point.

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Source Fool.com