NEA Management Company LLC boosted its position in AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) by 8.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,783,722 shares of the biopharmaceutical company’s stock after buying an additional 1,421,028 shares during the quarter. AVEO Pharmaceuticals makes up about 1.9% of NEA Management Company LLC’s portfolio, making the stock its 15th biggest position. NEA Management Company LLC owned about 0.15% of AVEO Pharmaceuticals worth $40,091,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in AVEO. Wells Fargo & Company MN acquired a new stake in shares of AVEO Pharmaceuticals during the 4th quarter worth about $298,000. Bank of New York Mellon Corp boosted its stake in shares of AVEO Pharmaceuticals by 40.2% during the 4th quarter. Bank of New York Mellon Corp now owns 91,625 shares of the biopharmaceutical company’s stock worth $256,000 after purchasing an additional 26,278 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of AVEO Pharmaceuticals by 6.5% during the 4th quarter. Geode Capital Management LLC now owns 667,956 shares of the biopharmaceutical company’s stock worth $1,863,000 after purchasing an additional 40,616 shares during the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of AVEO Pharmaceuticals during the 4th quarter worth about $672,000. Finally, Birchview Capital LP acquired a new stake in shares of AVEO Pharmaceuticals during the 1st quarter worth about $290,000. 55.31% of the stock is currently owned by institutional investors and hedge funds.
AVEO opened at $2.38 on Wednesday. The company has a debt-to-equity ratio of -0.36, a quick ratio of 1.16 and a current ratio of 1.16. AVEO Pharmaceuticals, Inc. has a 1 year low of $1.86 and a 1 year high of $4.24. The company has a market capitalization of $277.34 million, a P/E ratio of -15.20 and a beta of 1.55.
In related news, major shareholder Equity Opportunities Iv Growth bought 250,600 shares of the firm’s stock in a transaction that occurred on Thursday, July 19th. The shares were acquired at an average cost of $1.96 per share, with a total value of $491,176.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased 256,170 shares of company stock worth $503,152 over the last three months. Corporate insiders own 4.40% of the company’s stock.
Several equities research analysts have issued reports on the stock. ValuEngine raised shares of AVEO Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Zacks Investment Research raised shares of AVEO Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Friday, May 4th. BidaskClub raised shares of AVEO Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 21st. Finally, HC Wainwright assumed 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 on the stock. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. AVEO Pharmaceuticals presently has an average rating of “Buy” and an average target price of $5.25.
AVEO Pharmaceuticals Company Profile
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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