Aura Biosciences (NASDAQ:AURA) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Aura Biosciences, Inc. (NASDAQ:AURA) saw unusually-high trading volume on Monday . Approximately 718,007 shares changed hands during mid-day trading, an increase of 63% from the previous session’s volume of 439,304 shares.The stock last traded at $7.6070 and had previously closed at $7.69.

Analysts Set New Price Targets

AURA has been the subject of a number of recent analyst reports. Weiss Ratings raised Aura Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th. Leerink Partners set a $17.00 price target on shares of Aura Biosciences in a report on Tuesday, May 12th. HC Wainwright reduced their price target on shares of Aura Biosciences from $24.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Finally, Wall Street Zen cut shares of Aura Biosciences from a “hold” rating to a “sell” rating in a report on Sunday. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $17.50.

Aura Biosciences Trading Up 6.3%

The stock has a 50 day simple moving average of $7.08 and a 200-day simple moving average of $6.78. The firm has a market capitalization of $846.27 million, a P/E ratio of -4.66 and a beta of 0.40.

Aura Biosciences (NASDAQ:AURA) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.10). As a group, sell-side analysts expect that Aura Biosciences, Inc. will post -1.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Aura Biosciences news, insider Anthony S. Gibney sold 12,824 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $6.42, for a total value of $82,330.08. Following the transaction, the insider directly owned 265,354 shares in the company, valued at approximately $1,703,572.68. This trade represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Aura Biosciences

A number of hedge funds have recently modified their holdings of the business. Legal & General Group Plc bought a new position in Aura Biosciences in the 2nd quarter worth $29,000. Parallel Advisors LLC lifted its position in Aura Biosciences by 130.4% during the first quarter. Parallel Advisors LLC now owns 5,665 shares of the company’s stock valued at $38,000 after purchasing an additional 3,206 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Aura Biosciences by 49.3% during the second quarter. Tower Research Capital LLC TRC now owns 6,372 shares of the company’s stock valued at $40,000 after purchasing an additional 2,104 shares during the period. ProShare Advisors LLC purchased a new stake in Aura Biosciences in the fourth quarter worth about $59,000. Finally, Water Island Capital LLC purchased a new stake in Aura Biosciences in the third quarter worth about $64,000. Institutional investors own 96.75% of the company’s stock.

About Aura Biosciences

Aura Biosciences is a clinical‐stage biopharmaceutical company focused on the development of novel virus‐like particle (VLP) therapies for the treatment of cancer. By combining proprietary VLP technology with photoactivatable dyes, Aura aims to deliver highly selective photodynamic therapies that target and destroy tumor cells while sparing healthy tissue. The company’s platform is designed to address solid tumors in both ophthalmic and non‐ophthalmic settings, leveraging precision activation via near‐infrared light to induce localized tumor cell apoptosis and stimulate anti‐tumor immune responses.

The lead product candidate, AU-011, is being evaluated in patients with choroidal melanoma, a rare but potentially sight-threatening eye cancer.