AVEO Pharmaceuticals (AVEO) Shares Gap Up to $0.93

AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) gapped up prior to trading on Friday . The stock had previously closed at $0.89, but opened at $0.93. AVEO Pharmaceuticals shares last traded at $1.08, with a volume of 18583059 shares.

A number of brokerages have weighed in on AVEO. B. Riley reissued a “neutral” rating and set a $1.00 price objective (down previously from $5.00) on shares of AVEO Pharmaceuticals in a report on Monday, February 4th. HC Wainwright downgraded shares of AVEO Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $1.00 price target on the stock. in a report on Friday, February 1st. National Securities began coverage on shares of AVEO Pharmaceuticals in a research report on Thursday, March 28th. They issued a “sell” rating for the company. ValuEngine cut shares of AVEO Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, January 31st. Finally, FBR & Co set a $3.00 target price on shares of AVEO Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, December 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. AVEO Pharmaceuticals has a consensus rating of “Hold” and a consensus price target of $1.96.

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 shares of AVEO Pharmaceuticals in the fourth quarter worth $28,000. Chicago Equity Partners LLC purchased a new stake in AVEO Pharmaceuticals during the 4th quarter valued at about $32,000. Albion Financial Group UT purchased a new stake in AVEO Pharmaceuticals during the 4th quarter valued at about $38,000. Two Sigma Advisers LP increased its stake in AVEO Pharmaceuticals by 7.2% during the 4th quarter. Two Sigma Advisers LP now owns 422,000 shares of the biopharmaceutical company’s stock valued at $675,000 after purchasing an additional 28,500 shares in the last quarter. Finally, Northern Trust Corp increased its stake 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 in the last quarter. 35.72% of the stock is currently owned by institutional investors and hedge funds.

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About AVEO Pharmaceuticals (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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