AVEO Pharmaceuticals, Inc. (AVEO) Downgraded to Strong Sell at ValuEngine
ValuEngine downgraded shares of AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) from a sell rating to a strong sell rating in a research note issued to investors on Friday.
AVEO has been the topic of several other reports. FBR & Co reiterated an outperform rating and set a $3.00 price target on shares of AVEO Pharmaceuticals in a research report on Monday, February 27th. Zacks Investment Research cut AVEO Pharmaceuticals from a hold rating to a sell rating in a research report on Monday, March 27th.
AVEO Pharmaceuticals (NASDAQ:AVEO) traded down 9.6694% during mid-day trading on Friday, reaching $0.7268. The company’s stock had a trading volume of 442,197 shares. The firm has a 50 day moving average price of $0.65 and a 200-day moving average price of $0.67. AVEO Pharmaceuticals has a 1-year low of $0.50 and a 1-year high of $1.09. The company’s market capitalization is $80.21 million.
AVEO Pharmaceuticals (NASDAQ:AVEO) last issued its quarterly earnings results on Thursday, May 4th. The biopharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.12). AVEO Pharmaceuticals had a negative return on equity of 286.18% and a negative net margin of 465.54%. The company had revenue of $2.53 million for the quarter. On average, equities analysts predict that AVEO Pharmaceuticals will post ($0.44) EPS for the current fiscal year.
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In related news, major shareholder Equity Opportunities Iv Growth bought 6,000,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 28th. The shares were acquired at an average cost of $0.50 per share, for a total transaction of $3,000,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 5.10% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. NEA Management Company LLC boosted its position in shares of AVEO Pharmaceuticals by 57.9% in the first quarter. NEA Management Company LLC now owns 16,362,694 shares of the biopharmaceutical company’s stock worth $9,654,000 after buying an additional 6,000,000 shares during the last quarter. Perceptive Advisors LLC bought a new position in shares of AVEO Pharmaceuticals during the fourth quarter worth about $1,678,000. Sphera Funds Management LTD. bought a new position in shares of AVEO Pharmaceuticals during the first quarter worth about $1,711,000. New Leaf Venture Partners L.L.C. bought a new position in shares of AVEO Pharmaceuticals during the fourth quarter worth about $1,399,000. Finally, Sarissa Capital Management LP bought a new position in shares of AVEO Pharmaceuticals during the fourth quarter worth about $917,000. Institutional investors and hedge funds own 37.94% of the company’s stock.
About AVEO Pharmaceuticals
AVEO Pharmaceuticals, Inc is a biopharmaceutical company. The Company’s platform delivers insights into cancer and related disease. The Company’s product candidates include Tivozanib, Ficlatuzumab, AV-203 and AV-380. Tivozanib is a selective long half-life vascular endothelial growth factor tyrosine kinase inhibitor (VEGF TKI) that inhibits over three VEGF receptors.
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