Vanguard becomes largest Clovis shareholder

BOULDER  — Retirement fund giant The Vanguard Group Inc. increased its stake in Clovis Oncology Inc. (Nasdaq: CLVS) to become its largest institutional shareholder.

Pennsylvania-based Vanguard bought 986,547 shares of the Boulder oncology company Aug. 30 to bring its overall holdings to 5,567,857, according to disclosures filed this week with the U.S. Securities and Exchange Commission.

That figure gives Vanguard a 10.12 percent stake in Clovis, leapfrogging the second-largest position of 10.06 percent ownership held by Boston-based State Street Corp. (NYSE: STT) State Street took that position in July, shortly before Clovis reported weaker-than-expected earnings and launched a $225 million private fundraiser that drove the company’s stock to an all-time low of $4.98 per share.

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Clovis shares have rebounded to around the $6 mark due to other institutional investors taking stakes in the company, including Citadel Advisors LLC purchasing 3.6 million shares last month.