AVEO Pharmaceuticals, Inc. (AVEO) Sees Large Increase in Short Interest

AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) was the target of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 22,599,619 shares, an increase of 18.2% from the October 15th total of 19,120,393 shares. Approximately 23.2% of the company’s shares are short sold. Based on an average daily trading volume, of 2,980,606 shares, the short-interest ratio is currently 7.6 days.

AVEO has been the subject of a number of analyst reports. BidaskClub raised shares of AVEO Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, September 11th. HC Wainwright set a $9.00 price objective on shares of AVEO Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday. Zacks Investment Research lowered shares of AVEO Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, October 23rd. Finally, National Securities lowered shares of AVEO Pharmaceuticals from a “buy” rating to a “neutral” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. AVEO Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $6.33.

In other news, major shareholder Equity Opportunities Iv Growth acquired 663,716 shares of the business’s stock in a transaction dated Tuesday, August 21st. The stock was acquired at an average price of $2.26 per share, with a total value of $1,499,998.16. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.40% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Creative Planning purchased a new stake in AVEO Pharmaceuticals in the second quarter valued at approximately $143,000. Rhumbline Advisers purchased a new stake in AVEO Pharmaceuticals in the second quarter valued at approximately $209,000. Birchview Capital LP grew its holdings in AVEO Pharmaceuticals by 20.0% in the third quarter. Birchview Capital LP now owns 120,000 shares of the biopharmaceutical company’s stock valued at $397,000 after purchasing an additional 20,000 shares during the period. 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 valued at $406,000 after purchasing an additional 25,134 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its holdings in AVEO Pharmaceuticals by 661.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 218,129 shares of the biopharmaceutical company’s stock valued at $493,000 after purchasing an additional 189,500 shares during the period. Hedge funds and other institutional investors own 50.84% of the company’s stock.

AVEO Pharmaceuticals stock opened at $1.86 on Friday. AVEO Pharmaceuticals has a 1 year low of $1.78 and a 1 year high of $3.59. The company has a market capitalization of $241.63 million, a P/E ratio of -11.63 and a beta of 2.00.

AVEO Pharmaceuticals (NASDAQ:AVEO) last released its earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.09). The company had revenue of $0.43 million for the quarter, compared to analysts’ expectations of $1.35 million. As a group, equities analysts anticipate that AVEO Pharmaceuticals will post -0.25 EPS for the current year.

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AVEO Pharmaceuticals Company Profile

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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