AVEO Pharmaceuticals (AVEO) Sees Strong Trading Volume
Shares of AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) saw unusually-high trading volume on Tuesday . Approximately 6,349,900 shares were traded during mid-day trading, an increase of 211% from the previous session’s volume of 2,038,523 shares.The stock last traded at $3.15 and had previously closed at $2.83.
AVEO has been the subject of a number of recent research reports. BidaskClub upgraded shares of AVEO Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 11th. HC Wainwright initiated coverage on shares of AVEO Pharmaceuticals in a research note on Thursday, August 16th. They set a “buy” rating and a $6.50 price target for the company. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $5.50.
The company has a market cap of $374.95 million, a P/E ratio of -20.94 and a beta of 1.64. The company has a debt-to-equity ratio of -0.36, a quick ratio of 1.16 and a current ratio of 1.16.
In other news, major shareholder Equity Opportunities Iv Growth acquired 663,716 shares of the business’s stock in a transaction on Tuesday, August 21st. The shares were purchased at an average cost of $2.26 per share, with a total value of $1,499,998.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 4.40% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Verition Fund Management LLC purchased a new position in AVEO Pharmaceuticals during the 1st quarter worth $122,000. Creative Planning purchased a new position in AVEO Pharmaceuticals during the 2nd quarter worth $143,000. Rhumbline Advisers purchased a new position in AVEO Pharmaceuticals during the 2nd quarter worth $209,000. Element Capital Management LLC purchased a new position in AVEO Pharmaceuticals during the 1st quarter worth $388,000. Finally, Granahan Investment Management Inc. MA boosted its holdings in AVEO Pharmaceuticals by 16.3% during the 2nd quarter. Granahan Investment Management Inc. MA now owns 179,512 shares of the biopharmaceutical company’s stock worth $406,000 after acquiring an additional 25,134 shares during the last quarter. 50.48% of the stock is currently owned by hedge funds and other institutional investors.
About AVEO Pharmaceuticals (NASDAQ:AVEO)
AVEO Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes a portfolio of targeted medicines for oncology and other areas of unmet medical need. It markets its lead candidate, tivozanib, an oral, once-daily, vascular endothelial growth factor receptor tyrosine kinase inhibitor, which is used for the treatment of renal cell carcinoma (RCC).
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