AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) was the recipient of a significant growth in short interest in June. As of June 30th, there was short interest totalling 3,657,353 shares, a growth of 63.9% from the June 15th total of 2,231,389 shares. Based on an average trading volume of 16,762,289 shares, the days-to-cover ratio is presently 0.2 days. Currently, 4.2% of the shares of the stock are short sold.
Several research firms have issued reports on AVEO. Piper Jaffray Companies set a $2.00 price objective on AVEO Pharmaceuticals and gave the stock a “buy” rating in a research report on Saturday, June 24th. FBR & Co reiterated a “buy” rating and issued a $3.00 price objective on shares of AVEO Pharmaceuticals in a research report on Friday, June 30th. ValuEngine upgraded AVEO Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 24th. Finally, Zacks Investment Research upgraded AVEO Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, May 23rd.
AVEO Pharmaceuticals (AVEO) opened at 2.67 on Tuesday. The stock’s market cap is $294.67 million. The stock has a 50 day moving average price of $2.06 and a 200-day moving average price of $1.04. AVEO Pharmaceuticals has a 12 month low of $0.50 and a 12 month high of $3.19.
Several hedge funds have recently bought and sold shares of the company. Clear Harbor Asset Management LLC purchased a new stake in AVEO Pharmaceuticals during the second quarter worth approximately $289,000. Paloma Partners Management Co purchased a new stake in AVEO Pharmaceuticals during the first quarter worth approximately $184,000. UBS Oconnor LLC purchased a new stake in AVEO Pharmaceuticals during the first quarter worth approximately $291,000. Sabby Management LLC purchased a new stake in AVEO Pharmaceuticals during the first quarter worth approximately $513,000. Finally, Renaissance Technologies LLC increased its stake in AVEO Pharmaceuticals by 5.7% in the fourth quarter. Renaissance Technologies LLC now owns 2,743,900 shares of the biopharmaceutical company’s stock worth $1,482,000 after buying an additional 148,500 shares in the last quarter. 51.04% of the stock is currently owned by institutional investors.
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AVEO Pharmaceuticals Company Profile
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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