AVEO Pharmaceuticals, Inc. (AVEO) Short Interest Up 63.9% in June

AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) was the target of a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 3,657,353 shares, an increase of 63.9% from the June 15th total of 2,231,389 shares. Based on an average daily volume of 16,762,289 shares, the days-to-cover ratio is presently 0.2 days. Approximately 4.2% of the shares of the company are sold short.

A number of hedge funds have recently bought and sold shares of AVEO. NEA Management Company LLC raised its stake in AVEO Pharmaceuticals by 57.9% in the first quarter. NEA Management Company LLC now owns 16,362,694 shares of the biopharmaceutical company’s stock valued at $9,654,000 after buying an additional 6,000,000 shares during the period. Sphera Funds Management LTD. bought a new stake in AVEO Pharmaceuticals during the first quarter valued at approximately $1,711,000. Perceptive Advisors LLC raised its stake in AVEO Pharmaceuticals by 64.3% in the first quarter. Perceptive Advisors LLC now owns 5,108,808 shares of the biopharmaceutical company’s stock valued at $3,014,000 after buying an additional 2,000,000 shares during the period. Sabby Management LLC bought a new stake in AVEO Pharmaceuticals during the first quarter valued at approximately $513,000. Finally, UBS Oconnor LLC bought a new stake in AVEO Pharmaceuticals during the first quarter valued at approximately $291,000. 50.96% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have issued reports on AVEO. FBR & Co restated a “buy” rating on shares of AVEO Pharmaceuticals in a research note on Saturday, April 8th. Piper Jaffray Companies set a $2.00 price target on AVEO Pharmaceuticals and gave the company a “buy” rating in a research note on Saturday, June 24th. Zacks Investment Research cut AVEO Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, March 27th. Finally, ValuEngine cut AVEO Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd.

AVEO Pharmaceuticals (NASDAQ AVEO) opened at 2.52 on Friday. The stock’s market capitalization is $278.11 million. AVEO Pharmaceuticals has a 52-week low of $0.50 and a 52-week high of $3.19. The stock’s 50 day moving average price is $1.65 and its 200-day moving average price is $0.93.

AVEO Pharmaceuticals (NASDAQ:AVEO) last posted its earnings results on Thursday, May 4th. The biopharmaceutical company reported ($0.12) EPS for the quarter, hitting the consensus estimate of ($0.12). The firm had revenue of $2.53 million for the quarter. AVEO Pharmaceuticals had a negative return on equity of 836.92% and a negative net margin of 728.85%. On average, equities analysts expect that AVEO Pharmaceuticals will post ($0.39) EPS for the current fiscal year.

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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.