SG Americas Securities LLC bought a new position in shares of AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 60,472 shares of the biopharmaceutical company’s stock, valued at approximately $50,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. raised its stake in AVEO Pharmaceuticals by 3.3% in the 4th quarter. BlackRock Inc. now owns 7,357,716 shares of the biopharmaceutical company’s stock worth $11,773,000 after purchasing an additional 236,822 shares in the last quarter. Vanguard Group Inc. raised its stake in AVEO Pharmaceuticals by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 5,066,360 shares of the biopharmaceutical company’s stock worth $16,770,000 after purchasing an additional 73,519 shares in the last quarter. Geode Capital Management LLC raised its stake in AVEO Pharmaceuticals by 36.3% in the 4th quarter. Geode Capital Management LLC now owns 1,394,576 shares of the biopharmaceutical company’s stock worth $2,231,000 after purchasing an additional 371,327 shares in the last quarter. Northern Trust Corp raised its stake in AVEO Pharmaceuticals by 3.0% in the 4th quarter. Northern Trust Corp now owns 1,175,604 shares of the biopharmaceutical company’s stock worth $1,882,000 after purchasing an additional 34,164 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in AVEO Pharmaceuticals by 28.0% in the 4th quarter. Bank of New York Mellon Corp now owns 423,673 shares of the biopharmaceutical company’s stock worth $678,000 after purchasing an additional 92,663 shares in the last quarter. Institutional investors own 28.31% of the company’s stock.
Several brokerages have weighed in on AVEO. Zacks Investment Research cut shares of AVEO Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th. National Securities began coverage on shares of AVEO Pharmaceuticals in a research note on Thursday, March 28th. They issued a “sell” rating for the company. Finally, HC Wainwright reiterated a “hold” rating and issued a $1.00 price objective on shares of AVEO Pharmaceuticals in a research note on Monday, March 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. AVEO Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $1.96.
Shares of NASDAQ:AVEO opened at $0.71 on Friday. The company has a market capitalization of $122.02 million, a PE ratio of -3.74 and a beta of 1.26. AVEO Pharmaceuticals, Inc. has a 12 month low of $0.49 and a 12 month high of $3.59.
AVEO Pharmaceuticals (NASDAQ:AVEO) last issued its 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 during the quarter, compared to analyst estimates of $0.74 million. AVEO Pharmaceuticals had a net margin of 70.30% and a negative return on equity of 24.50%. Sell-side analysts predict that AVEO Pharmaceuticals, Inc. will post -0.17 earnings per share for the current fiscal year.
In other news, major shareholder Equity Opportunities Fu Growth bought 4,347,827 shares of the company’s stock in a transaction dated Monday, April 8th. The stock was bought at an average cost of $1.14 per share, for a total transaction of $4,956,522.78. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 4.40% of the stock is currently owned by insiders.
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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