AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) saw unusually-high trading volume on Thursday . Approximately 16,232,755 shares traded hands during mid-day trading, an increase of 225% from the previous session’s volume of 4,994,236 shares.The stock last traded at $0.71 and had previously closed at $0.62.
Separately, Zacks Investment Research lowered shares of AVEO Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $1.96.
The stock’s 50-day simple moving average is $0.70. The stock has a market cap of $110.93 million, a PE ratio of -3.63 and a beta of 0.78.
Several hedge funds and other institutional investors have recently modified their holdings of the business. Two Sigma Advisers LP boosted its position in shares of AVEO Pharmaceuticals by 7.2% during the 4th quarter. Two Sigma Advisers LP now owns 422,000 shares of the biopharmaceutical company’s stock worth $675,000 after purchasing an additional 28,500 shares in the last quarter. Northern Trust Corp boosted its position in shares of AVEO Pharmaceuticals by 3.0% during the 4th quarter. Northern Trust Corp now owns 1,175,604 shares of the biopharmaceutical company’s stock worth $1,882,000 after purchasing an additional 34,164 shares in the last quarter. HCR Wealth Advisors purchased a new stake in shares of AVEO Pharmaceuticals during the 1st quarter worth $28,000. Excalibur Management Corp boosted its position in shares of AVEO Pharmaceuticals by 363.6% during the 1st quarter. Excalibur Management Corp now owns 51,000 shares of the biopharmaceutical company’s stock worth $42,000 after purchasing an additional 40,000 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of AVEO Pharmaceuticals during the 1st quarter worth $50,000. Institutional investors own 28.32% of the company’s stock.
AVEO Pharmaceuticals Company Profile (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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