AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) was the recipient of a large growth in short interest in June. As of June 30th, there was short interest totalling 21,735,300 shares, a growth of 6.5% from the May 30th total of 20,409,600 shares. Based on an average daily trading volume, of 3,260,000 shares, the days-to-cover ratio is presently 6.7 days. Approximately 21.6% of the shares of the stock are sold short.
A number of large investors have recently modified their holdings of AVEO. Rhumbline Advisers grew its holdings in AVEO Pharmaceuticals by 50.4% during the 4th quarter. Rhumbline Advisers now owns 138,271 shares of the biopharmaceutical company’s stock valued at $221,000 after purchasing an additional 46,307 shares during the last quarter. New York State Common Retirement Fund grew its holdings in AVEO Pharmaceuticals by 261.3% during the 4th quarter. New York State Common Retirement Fund now owns 248,600 shares of the biopharmaceutical company’s stock valued at $398,000 after purchasing an additional 179,800 shares during the last quarter. BlackRock Inc. grew its holdings in AVEO Pharmaceuticals by 3.3% during the 4th quarter. BlackRock Inc. now owns 7,357,716 shares of the biopharmaceutical company’s stock valued at $11,773,000 after purchasing an additional 236,822 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in AVEO Pharmaceuticals by 28.0% during the 4th quarter. Bank of New York Mellon Corp now owns 423,673 shares of the biopharmaceutical company’s stock valued at $678,000 after purchasing an additional 92,663 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in AVEO Pharmaceuticals by 3.0% during the 4th quarter. Northern Trust Corp now owns 1,175,604 shares of the biopharmaceutical company’s stock valued at $1,882,000 after purchasing an additional 34,164 shares during the last quarter. Institutional investors own 28.33% of the company’s stock.
Several analysts have recently issued reports on the stock. National Securities restated a “sell” rating and set a $5.00 target price on shares of Oxford Square Capital in a research report on Thursday, March 28th. Zacks Investment Research cut shares of HEXO from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. AVEO Pharmaceuticals presently has an average rating of “Hold” and an average price target of $1.96.
AVEO Pharmaceuticals (NASDAQ:AVEO) last issued its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $1.61 million for the quarter, compared to the consensus estimate of $0.74 million. AVEO Pharmaceuticals had a net margin of 70.30% and a negative return on equity of 24.50%. On average, equities analysts predict that AVEO Pharmaceuticals will post -0.17 earnings per share for the current fiscal year.
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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