AVEO Pharmaceuticals, Inc. (AVEO) Short Interest Down 23.6% in September

AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) was the target of a large decline in short interest in the month of September. As of September 29th, there was short interest totalling 8,289,832 shares, a decline of 23.6% from the September 15th total of 10,847,618 shares. Based on an average daily volume of 2,356,573 shares, the days-to-cover ratio is presently 3.5 days. Approximately 8.6% of the shares of the company are short sold.

AVEO Pharmaceuticals (NASDAQ AVEO) opened at 3.05 on Wednesday. AVEO Pharmaceuticals has a 12 month low of $0.50 and a 12 month high of $4.24. The firm’s market cap is $360.84 million. The firm’s 50-day moving average price is $3.65 and its 200-day moving average price is $2.05.

A number of institutional investors and hedge funds have recently modified their holdings of AVEO. RA Capital Management LLC bought a new stake in AVEO Pharmaceuticals during the second quarter valued at $18,727,000. Perceptive Advisors LLC boosted its position in AVEO Pharmaceuticals by 64.3% during the first quarter. Perceptive Advisors LLC now owns 5,108,808 shares of the biopharmaceutical company’s stock valued at $3,014,000 after acquiring an additional 2,000,000 shares during the last quarter. Vanguard Group Inc. boosted its position in AVEO Pharmaceuticals by 48.6% during the second quarter. Vanguard Group Inc. now owns 3,551,360 shares of the biopharmaceutical company’s stock valued at $7,884,000 after acquiring an additional 1,162,232 shares during the last quarter. EAM Investors LLC bought a new stake in AVEO Pharmaceuticals during the second quarter valued at $1,979,000. Finally, Sabby Management LLC bought a new stake in AVEO Pharmaceuticals during the first quarter valued at $513,000. 53.76% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts recently issued reports on the company. Piper Jaffray Companies set a $2.00 price objective on AVEO Pharmaceuticals and gave the company a “buy” rating in a research report on Saturday, June 24th. FBR & Co reiterated a “buy” rating and set a $3.00 price target on shares of AVEO Pharmaceuticals in a research report on Friday, June 30th. BidaskClub upgraded AVEO Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 16th. Zacks Investment Research upgraded AVEO Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.75 price target for the company in a research report on Monday, July 24th. Finally, ValuEngine upgraded AVEO Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 24th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $3.42.

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AVEO Pharmaceuticals Company Profile

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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