AVEO Pharmaceuticals, Inc. (AVEO) Short Interest Update
AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) was the target of a significant drop in short interest in September. As of September 29th, there was short interest totalling 8,289,832 shares, a drop of 23.6% from the September 15th total of 10,847,618 shares. Based on an average daily trading volume, of 2,356,573 shares, the days-to-cover ratio is currently 3.5 days. Currently, 8.6% of the shares of the stock are sold short.
A number of brokerages have recently weighed in on AVEO. Piper Jaffray Companies set a $2.00 price target on AVEO Pharmaceuticals and gave the company a “buy” rating in a research report on Saturday, June 24th. Seaport Global Securities restated a “buy” rating on shares of AVEO Pharmaceuticals in a research report on Friday, October 6th. FBR & Co restated a “buy” rating and issued a $3.00 price target 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, BidaskClub upgraded AVEO Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $3.42.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Fore Research & Management LP purchased a new stake in shares of AVEO Pharmaceuticals during the second quarter valued at $111,000. Clear Harbor Asset Management LLC purchased a new stake in shares of AVEO Pharmaceuticals during the second quarter valued at $289,000. Cannell Peter B & Co. Inc. lifted its holdings in shares of AVEO Pharmaceuticals by 22.9% during the second quarter. Cannell Peter B & Co. Inc. now owns 109,875 shares of the biopharmaceutical company’s stock valued at $244,000 after purchasing an additional 20,500 shares during the last quarter. Paloma Partners Management Co purchased a new stake in shares of AVEO Pharmaceuticals during the first quarter valued at $184,000. Finally, UBS Oconnor LLC purchased a new stake in shares of AVEO Pharmaceuticals during the first quarter valued at $291,000. 53.76% of the stock is owned by institutional investors and hedge funds.
AVEO Pharmaceuticals (NASDAQ AVEO) opened at 3.68 on Friday. The stock’s market cap is $435.37 million. AVEO Pharmaceuticals has a 12 month low of $0.50 and a 12 month high of $4.24. The stock has a 50 day moving average price of $3.65 and a 200-day moving average price of $2.01.
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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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