Shares of Clovis Oncology (NASDAQ:CLVS) are up 25% today on rumors that the cancer treatment company could be acquired by pharmaceutical giant Sanofi (NASDAQ:SNY). The movement in CLVS stock is largely being driven by online chatter, as no announcement has been made concerning an acquisition.
There is also a report on Seeking Alpha today about the possible takeover, further intensifying interest in CLVS stock. Before today’s move higher, Clovis Oncology’s stock was down 78% this year at just 70 cents per share.
The post Clovis Oncology (CLVS) Stock Rallies on Buyout Rumors originally appeared at InvestorPlace.