AVEO Pharmaceuticals (AVEO) Shares Gap Down to $1.91

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AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) gapped down before the market opened on Thursday . The stock had previously closed at $1.96, but opened at $1.91. AVEO Pharmaceuticals shares last traded at $1.85, with a volume of 2359401 shares changing hands.

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 set a $7.00 price target on shares of AVEO Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, October 23rd. Zacks Investment Research upgraded shares of AVEO Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.25 price target on the stock in a report on Monday. Finally, National Securities cut shares of AVEO Pharmaceuticals from a “buy” rating to a “neutral” rating in a report on Tuesday, November 6th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $5.31.

The firm has a market capitalization of $214.25 million, a PE ratio of -11.56 and a beta of 2.00.

In related news, major shareholder Equity Opportunities Iv Growth bought 663,716 shares of the company’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.40% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. NEA Management Company LLC boosted its holdings in AVEO Pharmaceuticals by 5.1% in the third quarter. NEA Management Company LLC now owns 18,698,038 shares of the biopharmaceutical company’s stock worth $61,891,000 after purchasing an additional 914,316 shares during the last quarter. BlackRock Inc. boosted its holdings in AVEO Pharmaceuticals by 2.1% in the third quarter. BlackRock Inc. now owns 7,120,894 shares of the biopharmaceutical company’s stock worth $23,570,000 after purchasing an additional 143,148 shares during the last quarter. Northern Trust Corp boosted its holdings 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 purchasing an additional 876,703 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in AVEO Pharmaceuticals by 14.9% in the third quarter. Bank of New York Mellon Corp now owns 331,010 shares of the biopharmaceutical company’s stock worth $1,096,000 after purchasing an additional 42,937 shares during the last quarter. Finally, Fosun International Ltd purchased a new stake in AVEO Pharmaceuticals in the third quarter worth approximately $1,090,000. Institutional investors own 50.92% of the company’s stock.

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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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