AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) was the recipient of a large decrease in short interest in September. As of September 29th, there was short interest totalling 8,289,832 shares, a decrease of 23.6% from the September 15th total of 10,847,618 shares. Approximately 8.6% of the company’s shares are short sold. Based on an average daily trading volume, of 2,356,573 shares, the days-to-cover ratio is presently 3.5 days.
Several research analysts have issued reports on AVEO shares. FBR & Co reaffirmed a “buy” rating and set a $3.00 price objective on shares of AVEO Pharmaceuticals in a report on Friday, June 30th. Zacks Investment Research raised AVEO Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.75 price objective on the stock in a report on Monday, July 24th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $3.50 price objective on shares of AVEO Pharmaceuticals in a report on Thursday, August 10th. BidaskClub raised AVEO Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 16th. Finally, Seaport Global Securities reaffirmed a “buy” rating on shares of AVEO Pharmaceuticals in a report on Friday, October 6th. One analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $3.42.
Large investors have recently added to or reduced their stakes in the business. Clear Harbor Asset Management LLC bought a new stake in AVEO Pharmaceuticals during the 2nd quarter valued at about $289,000. Paloma Partners Management Co bought a new stake in AVEO Pharmaceuticals during the 1st quarter valued at about $184,000. EAM Investors LLC bought a new stake in shares of AVEO Pharmaceuticals in the second quarter worth approximately $1,979,000. UBS Oconnor LLC bought a new stake in shares of AVEO Pharmaceuticals in the first quarter worth approximately $291,000. Finally, Perceptive Advisors LLC grew its stake in shares of AVEO Pharmaceuticals by 64.3% in the first quarter. Perceptive Advisors LLC now owns 5,108,808 shares of the biopharmaceutical company’s stock worth $3,014,000 after acquiring an additional 2,000,000 shares during the period. Institutional investors and hedge funds own 53.76% of the company’s stock.
Shares of AVEO Pharmaceuticals (AVEO) opened at 2.72 on Friday. The company has a 50 day moving average of $3.56 and a 200-day moving average of $2.19. The company’s market cap is $321.80 million. AVEO Pharmaceuticals has a 52-week low of $0.50 and a 52-week high of $4.24.
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About AVEO Pharmaceuticals
AVEO Pharmaceuticals, Inc is a biopharmaceutical company. The Company’s platform delivers insights into cancer and related disease. The Company’s product candidates include Tivozanib, Ficlatuzumab, AV-203 and AV-380. Tivozanib is a selective long half-life vascular endothelial growth factor tyrosine kinase inhibitor (VEGF TKI) that inhibits over three VEGF receptors.
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