Leerink Partners Cuts Clover Health Investments (NASDAQ:CLOV) Price Target to $2.50

Clover Health Investments (NASDAQ:CLOV) had its price objective decreased by Leerink Partners from $3.00 to $2.50 in a research report sent to investors on Thursday morning,Benzinga reports. Leerink Partners currently has a market perform rating on the stock.

Several other research analysts have also recently issued reports on CLOV. Zacks Research cut shares of Clover Health Investments from a “strong-buy” rating to a “hold” rating in a report on Monday, November 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clover Health Investments in a research note on Monday, December 29th. Wall Street Zen raised shares of Clover Health Investments from a “sell” rating to a “hold” rating in a research report on Sunday, February 15th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $3.70 price objective on shares of Clover Health Investments in a report on Tuesday, January 20th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.07.

Clover Health Investments Stock Down 3.4%

Shares of CLOV opened at $2.00 on Thursday. The stock has a 50 day moving average price of $2.29 and a 200 day moving average price of $2.61. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of -11.76 and a beta of 2.15. Clover Health Investments has a 52-week low of $1.93 and a 52-week high of $3.92.

Clover Health Investments (NASDAQ:CLOV) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.05). Clover Health Investments had a negative net margin of 4.45% and a negative return on equity of 25.17%. The company had revenue of $487.71 million during the quarter, compared to analysts’ expectations of $467.06 million. On average, equities analysts anticipate that Clover Health Investments will post -0.12 EPS for the current fiscal year.

Insider Activity

In other news, CEO Brady Patrick Priest sold 175,000 shares of Clover Health Investments stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $2.17, for a total value of $379,750.00. Following the transaction, the chief executive officer directly owned 1,998,584 shares of the company’s stock, valued at $4,336,927.28. The trade was a 8.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 24.07% of the company’s stock.

Institutional Trading of Clover Health Investments

Large investors have recently bought and sold shares of the business. Ketron Financial purchased a new position in Clover Health Investments during the 4th quarter worth $39,000. Virtu Financial LLC raised its holdings in shares of Clover Health Investments by 532.9% in the fourth quarter. Virtu Financial LLC now owns 209,204 shares of the company’s stock valued at $492,000 after buying an additional 176,150 shares during the last quarter. Tudor Investment Corp ET AL acquired a new stake in shares of Clover Health Investments during the fourth quarter worth about $458,000. Quadrature Capital Ltd purchased a new position in shares of Clover Health Investments during the fourth quarter worth about $29,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in shares of Clover Health Investments during the fourth quarter worth about $29,000. Institutional investors and hedge funds own 19.77% of the company’s stock.

Clover Health Investments Company Profile

Clover Health Investments is a technology-driven healthcare company specializing in Medicare Advantage plans for senior populations. The company combines insurance coverage with a proprietary software platform to improve care coordination, outcomes tracking and cost management. By leveraging data analytics, Clover Health aims to deliver personalized care pathways and preventive interventions for its members.

At the core of Clover’s offering is its Clover Assistant platform, which aggregates clinical and claims data from multiple sources to create real-time insights for physicians and care teams.