AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) was down 5.1% during trading on Thursday . The company traded as low as $2.59 and last traded at $2.60. Approximately 2,061,175 shares changed hands during trading, a decline of 2% from the average daily volume of 2,093,356 shares. The stock had previously closed at $2.74.
A number of equities research analysts have recently commented on AVEO shares. BidaskClub upgraded shares of AVEO Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 11th. HC Wainwright started coverage on shares of AVEO Pharmaceuticals in a report on Thursday, August 16th. They set a “buy” rating and a $6.50 price target on the stock. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $5.50.
The stock has a market cap of $393.99 million, a price-to-earnings ratio of -16.88 and a beta of 1.67. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of -0.36.
AVEO Pharmaceuticals (NASDAQ:AVEO) last issued its quarterly earnings data on Tuesday, August 7th. The biopharmaceutical company reported ($0.15) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.09). The company had revenue of $0.43 million for the quarter, compared to the consensus estimate of $1.35 million. On average, equities analysts forecast that AVEO Pharmaceuticals, Inc. will post -0.26 earnings per share for the current fiscal year.
In related news, major shareholder Equity Opportunities Iv Growth acquired 663,716 shares of the stock in a transaction that occurred on Tuesday, August 21st. The shares were bought at an average price of $2.26 per share, for a total transaction of $1,499,998.16. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.40% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the stock. NEA Management Company LLC lifted its position in AVEO Pharmaceuticals by 8.7% during the second quarter. NEA Management Company LLC now owns 17,783,722 shares of the biopharmaceutical company’s stock valued at $40,091,000 after purchasing an additional 1,421,028 shares during the period. BlackRock Inc. raised its position in AVEO Pharmaceuticals by 271.9% in the second quarter. BlackRock Inc. now owns 6,977,746 shares of the biopharmaceutical company’s stock worth $15,770,000 after acquiring an additional 5,101,281 shares during the period. Northern Trust Corp raised its position in AVEO Pharmaceuticals by 396.0% in the second quarter. Northern Trust Corp now owns 1,098,075 shares of the biopharmaceutical company’s stock worth $2,482,000 after acquiring an additional 876,703 shares during the period. Point72 Asset Management L.P. raised its position in AVEO Pharmaceuticals by 213.5% in the first quarter. Point72 Asset Management L.P. now owns 940,403 shares of the biopharmaceutical company’s stock worth $2,727,000 after acquiring an additional 640,403 shares during the period. Finally, Bank of New York Mellon Corp raised its position in AVEO Pharmaceuticals by 279.0% in the second quarter. Bank of New York Mellon Corp now owns 288,073 shares of the biopharmaceutical company’s stock worth $651,000 after acquiring an additional 212,059 shares during the period. Institutional investors own 50.53% of the company’s stock.
AVEO Pharmaceuticals Company Profile (NASDAQ:AVEO)
AVEO Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes a portfolio of targeted medicines for oncology and other areas of unmet medical need. It markets its lead candidate, tivozanib, an oral, once-daily, vascular endothelial growth factor receptor tyrosine kinase inhibitor, which is used for the treatment of renal cell carcinoma (RCC).
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