Insider Buying: AVEO Pharmaceuticals, Inc. (AVEO) Major Shareholder Purchases 24,500 Shares of Stock

AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) major shareholder Peter W. Sonsini acquired 24,500 shares of the stock in a transaction dated Wednesday, November 28th. The stock was bought at an average price of $1.99 per share, for a total transaction of $48,755.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

AVEO opened at $2.07 on Monday. AVEO Pharmaceuticals, Inc. has a fifty-two week low of $1.49 and a fifty-two week high of $3.59. The firm has a market cap of $259.47 million, a price-to-earnings ratio of -12.94 and a beta of 1.98.

AVEO Pharmaceuticals (NASDAQ:AVEO) last posted its quarterly earnings results on Friday, November 9th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.01. The business had revenue of $2.47 million for the quarter, compared to analyst estimates of $0.68 million. Equities analysts forecast that AVEO Pharmaceuticals, Inc. will post -0.23 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of AVEO. Creative Planning acquired a new stake in AVEO Pharmaceuticals during the second quarter worth $143,000. Rhumbline Advisers acquired a new stake in AVEO Pharmaceuticals during the second quarter worth $209,000. MetLife Investment Advisors LLC acquired a new stake in AVEO Pharmaceuticals during the third quarter worth $275,000. Birchview Capital LP boosted its stake in AVEO Pharmaceuticals by 20.0% during the third quarter. Birchview Capital LP now owns 120,000 shares of the biopharmaceutical company’s stock worth $397,000 after buying an additional 20,000 shares in the last quarter. Finally, Granahan Investment Management Inc. MA boosted its stake in AVEO Pharmaceuticals by 16.3% during the second quarter. Granahan Investment Management Inc. MA now owns 179,512 shares of the biopharmaceutical company’s stock worth $406,000 after buying an additional 25,134 shares in the last quarter. Hedge funds and other institutional investors own 40.07% of the company’s stock.

Several equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of AVEO Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.25 price objective on the stock in a research note on Monday, November 12th. National Securities downgraded shares of AVEO Pharmaceuticals from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 6th. HC Wainwright set a $9.00 price objective on shares of AVEO Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, November 6th. Finally, BidaskClub downgraded shares of AVEO Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, October 19th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. AVEO Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $5.42.

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AVEO Pharmaceuticals Company Profile

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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