AVEO Pharmaceuticals (AVEO) Reaches New 1-Year Low at $1.78

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AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO)’s share price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $1.78 and last traded at $1.83, with a volume of 175698 shares traded. The stock had previously closed at $2.00.

AVEO has been the topic of a number of recent research reports. BidaskClub upgraded AVEO Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 11th. HC Wainwright set a $9.00 target price on AVEO Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday. Zacks Investment Research cut AVEO Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, October 23rd. Finally, National Securities cut AVEO Pharmaceuticals from a “buy” rating to a “neutral” rating in a report on Tuesday. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $6.33.

The firm has a market capitalization of $241.63 million, a PE ratio of -11.47 and a beta of 2.00.

AVEO Pharmaceuticals (NASDAQ:AVEO) last issued its earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.09). The company had revenue of $0.43 million during the quarter, compared to the consensus estimate of $1.35 million. As a group, equities analysts expect that AVEO Pharmaceuticals, Inc. will post -0.25 earnings per share for the current fiscal year.

In other news, major shareholder Equity Opportunities Iv Growth bought 663,716 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The shares were bought at an average cost of $2.26 per share, for a total transaction of $1,499,998.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 4.40% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. NEA Management Company LLC raised its position in AVEO Pharmaceuticals by 8.7% in the 2nd quarter. NEA Management Company LLC now owns 17,783,722 shares of the biopharmaceutical company’s stock valued at $40,091,000 after buying an additional 1,421,028 shares during the last quarter. BlackRock Inc. raised its position in AVEO Pharmaceuticals by 2.1% in the 3rd quarter. BlackRock Inc. now owns 7,120,894 shares of the biopharmaceutical company’s stock valued at $23,570,000 after buying an additional 143,148 shares during the last quarter. Northern Trust Corp raised its position in AVEO Pharmaceuticals by 396.0% in the 2nd quarter. Northern Trust Corp now owns 1,098,075 shares of the biopharmaceutical company’s stock valued at $2,482,000 after buying an additional 876,703 shares during the last quarter. Bank of New York Mellon Corp raised its position in AVEO Pharmaceuticals by 14.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 331,010 shares of the biopharmaceutical company’s stock valued at $1,096,000 after buying an additional 42,937 shares during the last quarter. Finally, Fosun International Ltd purchased a new stake in AVEO Pharmaceuticals in the 3rd quarter valued at $1,090,000. Institutional investors own 50.84% of the company’s stock.

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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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