Insider Buying: AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) Major Shareholder Acquires 4,347,827 Shares of Stock

AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) major shareholder Equity Opportunities Fu Growth bought 4,347,827 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were acquired at an average cost of $1.14 per share, for a total transaction of $4,956,522.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

NASDAQ:AVEO traded down $0.02 during mid-day trading on Monday, reaching $1.00. The stock had a trading volume of 2,940,007 shares, compared to its average volume of 7,235,716. AVEO Pharmaceuticals, Inc. has a 1-year low of $0.49 and a 1-year high of $3.59. The company has a market capitalization of $141.78 million, a price-to-earnings ratio of -5.26 and a beta of 1.19.

AVEO Pharmaceuticals (NASDAQ:AVEO) last issued its earnings results on Thursday, March 14th. The biopharmaceutical company reported ($0.03) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.03. The company had revenue of $1.48 million during the quarter, compared to analyst estimates of $2.48 million. As a group, analysts expect that AVEO Pharmaceuticals, Inc. will post -0.16 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of the business. Two Sigma Securities LLC acquired a new position in AVEO Pharmaceuticals in the fourth quarter valued at approximately $28,000. Chicago Equity Partners LLC acquired a new position in AVEO Pharmaceuticals in the fourth quarter valued at approximately $32,000. Albion Financial Group UT acquired a new position in AVEO Pharmaceuticals in the fourth quarter valued at approximately $38,000. Two Sigma Advisers LP boosted its stake in AVEO Pharmaceuticals by 7.2% in the fourth quarter. Two Sigma Advisers LP now owns 422,000 shares of the biopharmaceutical company’s stock valued at $675,000 after acquiring an additional 28,500 shares during the period. Finally, Northern Trust Corp boosted its stake in AVEO Pharmaceuticals by 3.0% in the fourth quarter. Northern Trust Corp now owns 1,175,604 shares of the biopharmaceutical company’s stock valued at $1,882,000 after acquiring an additional 34,164 shares during the period. Institutional investors own 35.72% of the company’s stock.

A number of brokerages have recently issued reports on AVEO. Zacks Investment Research raised AVEO Pharmaceuticals from a “hold” rating to a “buy” rating and set a $0.75 target price on the stock in a research report on Tuesday, March 19th. HC Wainwright reiterated a “hold” rating and issued a $1.00 price target on shares of AVEO Pharmaceuticals in a research note on Monday, March 18th. FBR & Co set a $3.00 price target on AVEO Pharmaceuticals and gave the stock a “buy” rating in a research note on Thursday, December 20th. BidaskClub upgraded AVEO Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, January 15th. Finally, Robert W. Baird began coverage on AVEO Pharmaceuticals in a research note on Thursday, January 3rd. They issued an “outperform” rating and a $3.00 price target for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $1.96.

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About AVEO Pharmaceuticals

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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Insider Buying and Selling by Quarter for AVEO Pharmaceuticals (NASDAQ:AVEO)

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