AVEO Pharmaceuticals, Inc. (AVEO) Sees Significant Drop in Short Interest

AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) was the target of a large drop in short interest during the month of November. As of November 30th, there was short interest totalling 6,805,914 shares, a drop of 15.4% from the November 15th total of 8,047,193 shares. Based on an average daily volume of 1,479,580 shares, the short-interest ratio is currently 4.6 days. Currently, 7.0% of the company’s shares are sold short.

Several brokerages recently commented on AVEO. Zacks Investment Research raised AVEO Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday. B. Riley assumed coverage on AVEO Pharmaceuticals in a report on Monday, November 13th. They issued a “buy” rating and a $5.00 price objective for the company. started coverage on AVEO Pharmaceuticals in a report on Wednesday, November 15th. They set a “buy” rating and a $5.00 price target for the company. BidaskClub downgraded shares of AVEO Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Tuesday. Finally, Seaport Global Securities reiterated a “buy” rating on shares of AVEO Pharmaceuticals in a research report on Friday, October 6th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $4.05.

Several institutional investors and hedge funds have recently bought and sold shares of AVEO. RA Capital Management LLC acquired a new stake in shares of AVEO Pharmaceuticals in the 2nd quarter worth about $18,727,000. Vanguard Group Inc. increased its stake in AVEO Pharmaceuticals by 48.6% in the 2nd quarter. Vanguard Group Inc. now owns 3,551,360 shares of the biopharmaceutical company’s stock valued at $7,884,000 after buying an additional 1,162,232 shares during the last quarter. EAM Investors LLC purchased a new stake in AVEO Pharmaceuticals in the 2nd quarter valued at about $1,979,000. Essex Investment Management Co. LLC purchased a new stake in AVEO Pharmaceuticals in the 3rd quarter valued at about $550,000. Finally, OxFORD Asset Management LLP purchased a new stake in AVEO Pharmaceuticals in the 3rd quarter valued at about $228,000. Institutional investors own 50.91% of the company’s stock.

Shares of AVEO Pharmaceuticals (AVEO) traded down $0.03 on Thursday, reaching $2.77. 944,342 shares of the company’s stock were exchanged, compared to its average volume of 1,400,000. AVEO Pharmaceuticals has a twelve month low of $0.50 and a twelve month high of $4.24. The company has a market capitalization of $327.71, a PE ratio of -3.90 and a beta of 1.14. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of -0.32.

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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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