AVEO Pharmaceuticals (AVEO) Shares Down 5.1%

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AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO)’s share price fell 5.1% during trading on Thursday . The stock traded as low as $2.59 and last traded at $2.60. 2,061,175 shares traded hands during trading, a decline of 2% from the average session volume of 2,093,356 shares. The stock had previously closed at $2.74.

Several brokerages have recently commented on AVEO. BidaskClub raised shares of AVEO Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 11th. HC Wainwright began coverage on shares of AVEO Pharmaceuticals in a research note on Thursday, August 16th. They set a “buy” rating and a $6.50 price objective for the company. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. AVEO Pharmaceuticals has a consensus rating of “Buy” and an average target price of $5.50.

The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of -0.36. The company has a market cap of $393.99 million, a P/E ratio of -16.88 and a beta of 1.67.

AVEO Pharmaceuticals (NASDAQ:AVEO) last announced its quarterly earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.15) earnings per share (EPS) for the quarter, missing the 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. As a group, equities analysts predict that AVEO Pharmaceuticals, Inc. will post -0.26 EPS for the current fiscal year.

In related news, major shareholder Equity Opportunities Iv Growth purchased 250,600 shares of AVEO Pharmaceuticals stock in a transaction that occurred on Thursday, July 19th. The shares were bought at an average price of $1.96 per share, for a total transaction of $491,176.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.40% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in AVEO. Verition Fund Management LLC purchased a new stake in AVEO Pharmaceuticals in the first quarter worth about $122,000. Creative Planning purchased a new stake in AVEO Pharmaceuticals in the second quarter worth about $143,000. Rhumbline Advisers purchased a new stake in AVEO Pharmaceuticals in the second quarter worth about $209,000. Element Capital Management LLC purchased a new stake in AVEO Pharmaceuticals in the first quarter worth about $388,000. Finally, Granahan Investment Management Inc. MA grew its holdings in AVEO Pharmaceuticals by 16.3% in the second quarter. Granahan Investment Management Inc. MA now owns 179,512 shares of the biopharmaceutical company’s stock worth $406,000 after purchasing an additional 25,134 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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