Aura Biosciences (NASDAQ:AURA) Shares Climb 3.6% – Here’s Why

Aura Biosciences, Inc. (NASDAQ:AURA) rose 3.6% on Wednesday. The company traded as high as $6.26 and last traded at $6.39. 33,722 shares were traded during trading, a decline of 94% from the average session volume of 531,157 shares. The stock had previously closed at $6.17.

Analysts Set New Price Targets

A number of research firms recently weighed in on AURA. Wall Street Zen lowered shares of Aura Biosciences from a “hold” rating to a “sell” rating in a research note on Sunday, August 16th. HC Wainwright lowered their price target on shares of Aura Biosciences from $24.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. Finally, Weiss Ratings upgraded shares of Aura Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 14th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $17.50.

Aura Biosciences Trading Up 0.8%

The firm has a 50-day moving average of $7.09 and a 200-day moving average of $7.07. The stock has a market capitalization of $675.15 million, a price-to-earnings ratio of -3.72 and a beta of 0.41.

Aura Biosciences (NASDAQ:AURA) last issued its earnings results on Tuesday, August 11th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.10). On average, equities research analysts anticipate that Aura Biosciences, Inc. will post -1.61 EPS for the current year.

Institutional Investors Weigh In On Aura Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC lifted its position in Aura Biosciences by 130.4% in the first quarter. Parallel Advisors LLC now owns 5,665 shares of the company’s stock valued at $38,000 after buying an additional 3,206 shares during the last quarter. Legal & General Group Plc acquired a new stake in shares of Aura Biosciences during the second quarter valued at about $29,000. Wellington Management Group LLP increased its position in shares of Aura Biosciences by 3.6% during the second quarter. Wellington Management Group LLP now owns 132,122 shares of the company’s stock valued at $938,000 after acquiring an additional 4,579 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Aura Biosciences in the 2nd quarter valued at approximately $54,000. Finally, Engineers Gate Manager LP purchased a new stake in shares of Aura Biosciences in the 2nd quarter valued at approximately $158,000. Hedge funds and other institutional investors own 96.75% of the company’s stock.

Aura Biosciences Company Profile

Aura Biosciences, Inc is a clinical-stage biotechnology company focused on developing precision oncology therapies that selectively target and destroy cancer cells while preserving surrounding healthy tissue. The company’s technology platform uses tumor-targeting virus-like particles and light-activated compounds to deliver localized anticancer treatment.

Aura’s lead product candidate is belzupacap sarotalocan, also known as AU-011, an investigational therapy designed for the treatment of primary choroidal melanoma, a rare cancer of the eye.