BlackRock Inc. raised its position in AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) by 271.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,977,746 shares of the biopharmaceutical company’s stock after purchasing an additional 5,101,281 shares during the quarter. BlackRock Inc. owned 0.06% of AVEO Pharmaceuticals worth $15,770,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of AVEO. NEA Management Company LLC raised its position in shares of AVEO Pharmaceuticals by 8.7% during the second quarter. NEA Management Company LLC now owns 17,783,722 shares of the biopharmaceutical company’s stock worth $40,091,000 after acquiring an additional 1,421,028 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of AVEO Pharmaceuticals by 279.0% during the second quarter. Bank of New York Mellon Corp now owns 288,073 shares of the biopharmaceutical company’s stock worth $651,000 after acquiring an additional 212,059 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of AVEO Pharmaceuticals by 661.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 218,129 shares of the biopharmaceutical company’s stock worth $493,000 after acquiring an additional 189,500 shares during the last quarter. Rhumbline Advisers bought a new position in shares of AVEO Pharmaceuticals during the second quarter worth about $209,000. Finally, Creative Planning bought a new position in shares of AVEO Pharmaceuticals during the second quarter worth about $143,000. Hedge funds and other institutional investors own 50.82% of the company’s stock.
A number of brokerages have recently issued reports on AVEO. HC Wainwright began coverage on AVEO Pharmaceuticals in a research report on Thursday, August 16th. They set a “buy” rating and a $6.50 price objective for the company. BidaskClub upgraded AVEO Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 29th. Finally, Zacks Investment Research downgraded AVEO Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, October 23rd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $5.67.
AVEO Pharmaceuticals (NASDAQ:AVEO) last issued its earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.15) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.09). The business had revenue of $0.43 million during the quarter, compared to analyst estimates of $1.35 million. On average, equities analysts anticipate that AVEO Pharmaceuticals, Inc. will post -0.25 EPS for the current year.
In other AVEO Pharmaceuticals news, major shareholder Equity Opportunities Iv Growth bought 663,716 shares of the stock in a transaction on Tuesday, August 21st. The stock was acquired at an average cost of $2.26 per share, for a total transaction of $1,499,998.16. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.40% of the company’s stock.
About AVEO Pharmaceuticals
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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