Short Interest in AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) Declines By 7.4%

AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) was the target of a significant decline in short interest in June. As of June 15th, there was short interest totalling 20,409,600 shares, a decline of 7.4% from the May 15th total of 22,041,300 shares. Based on an average daily volume of 6,660,000 shares, the days-to-cover ratio is currently 3.1 days. Approximately 20.3% of the company’s stock are short sold.

NASDAQ AVEO traded down $0.01 during trading hours on Friday, reaching $0.71. The stock had a trading volume of 1,959,940 shares, compared to its average volume of 3,026,099. AVEO Pharmaceuticals has a 52-week low of $0.49 and a 52-week high of $3.59. The company’s fifty day moving average is $0.72. The stock has a market cap of $115.89 million, a PE ratio of -3.74 and a beta of 0.88.

AVEO Pharmaceuticals (NASDAQ:AVEO) last released its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.01). AVEO Pharmaceuticals had a negative return on equity of 24.50% and a net margin of 70.30%. The company had revenue of $1.61 million during the quarter, compared to analysts’ expectations of $0.74 million. As a group, equities research analysts forecast that AVEO Pharmaceuticals will post -0.17 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in the business. Two Sigma Securities LLC purchased a new stake in AVEO Pharmaceuticals in the 4th quarter worth approximately $28,000. Two Sigma Advisers LP raised its stake 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 buying an additional 28,500 shares during the period. Northern Trust Corp raised its stake 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 buying an additional 34,164 shares during the period. HCR Wealth Advisors acquired a new position in shares of AVEO Pharmaceuticals during the 1st quarter worth approximately $28,000. Finally, Excalibur Management Corp raised its stake 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 buying an additional 40,000 shares during the period. Institutional investors and hedge funds own 28.33% of the company’s stock.

A number of equities analysts have commented on the stock. Zacks Investment Research downgraded shares of HEXO from a “hold” rating to a “sell” rating in a report on Wednesday, May 15th. National Securities restated a “sell” rating and set a $5.00 price target on shares of Oxford Square Capital in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. AVEO Pharmaceuticals has an average rating of “Hold” and an average target price of $1.96.

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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