AVEO Pharmaceuticals, Inc. (AVEO) Short Interest Up 98.9% in July
AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) was the recipient of a significant increase in short interest in July. As of July 14th, there was short interest totalling 7,275,061 shares, an increase of 98.9% from the June 30th total of 3,657,353 shares. Based on an average daily trading volume, of 8,475,366 shares, the days-to-cover ratio is currently 0.9 days. Approximately 8.4% of the company’s stock are sold short.
A number of research analysts have weighed in on the stock. FBR & Co reaffirmed 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 shares of AVEO Pharmaceuticals and gave the company a “buy” rating in a research note on Saturday, June 24th. Zacks Investment Research raised shares of AVEO Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.75 price target on the stock in a research note on Monday. Finally, ValuEngine lowered shares of AVEO Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, June 2nd.
Shares of AVEO Pharmaceuticals (NASDAQ:AVEO) opened at 2.45 on Thursday. The stock has a 50 day moving average of $1.85 and a 200-day moving average of $0.98. The company’s market cap is $270.39 million. AVEO Pharmaceuticals has a 12 month low of $0.50 and a 12 month high of $3.19.
AVEO Pharmaceuticals (NASDAQ:AVEO) last announced its quarterly earnings data on Thursday, May 4th. The biopharmaceutical company reported ($0.12) EPS for the quarter, hitting the consensus estimate of ($0.12). The company had revenue of $2.53 million during the quarter. AVEO Pharmaceuticals had a negative net margin of 728.85% and a negative return on equity of 836.92%. On average, analysts forecast that AVEO Pharmaceuticals will post ($0.39) EPS for the current year.
Hedge funds have recently made changes to their positions in the company. Paloma Partners Management Co bought a new stake in shares of AVEO Pharmaceuticals during the first quarter valued at approximately $184,000. Clear Harbor Asset Management LLC bought a new stake in shares of AVEO Pharmaceuticals during the second quarter valued at approximately $289,000. UBS Oconnor LLC bought a new stake in shares of AVEO Pharmaceuticals during the first quarter valued at approximately $291,000. Sabby Management LLC bought a new stake in shares of AVEO Pharmaceuticals during the first quarter valued at approximately $513,000. Finally, Renaissance Technologies LLC increased its stake in shares of AVEO Pharmaceuticals by 5.7% in the fourth quarter. Renaissance Technologies LLC now owns 2,743,900 shares of the biopharmaceutical company’s stock valued at $1,482,000 after buying an additional 148,500 shares during the period. 50.96% of the stock is owned by institutional investors.
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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