AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) Short Interest Down 14.8% in December

AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO – Get Rating) was the target of a large decline in short interest in the month of December. As of December 30th, there was short interest totalling 816,800 shares, a decline of 14.8% from the December 15th total of 958,500 shares. Based on an average daily volume of 1,230,000 shares, the short-interest ratio is currently 0.7 days. Approximately 2.7% of the company’s shares are short sold.

AVEO Pharmaceuticals Stock Performance

NASDAQ AVEO opened at $15.00 on Friday. The company has a quick ratio of 2.35, a current ratio of 2.37 and a debt-to-equity ratio of 0.94. AVEO Pharmaceuticals has a twelve month low of $3.06 and a twelve month high of $15.00. The firm has a market capitalization of $521.45 million, a PE ratio of -17.86 and a beta of 1.00. The stock’s 50 day moving average is $14.92 and its 200 day moving average is $11.25.

AVEO Pharmaceuticals (NASDAQ:AVEO – Get Rating) last released its quarterly earnings results on Monday, November 7th. The biopharmaceutical company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.07. AVEO Pharmaceuticals had a negative return on equity of 81.66% and a negative net margin of 30.79%. The company had revenue of $30.45 million for the quarter, compared to analyst estimates of $29.95 million. Research analysts forecast that AVEO Pharmaceuticals will post -0.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AVEO. Robert W. Baird cut AVEO Pharmaceuticals from an “outperform” rating to a “neutral” rating in a research note on Tuesday, October 18th. StockNews.com raised AVEO Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, January 10th. SVB Leerink cut AVEO Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Monday, October 24th. Stifel Nicolaus cut AVEO Pharmaceuticals from a “buy” rating to a “hold” rating and set a $15.00 target price on the stock. in a research note on Tuesday, November 8th. Finally, Jonestrading cut AVEO Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, October 31st. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $15.00.

Institutional Investors Weigh In On AVEO Pharmaceuticals

Several hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp bought a new stake in AVEO Pharmaceuticals in the third quarter worth $133,000. BNP Paribas Arbitrage SNC bought a new stake in AVEO Pharmaceuticals in the third quarter worth $49,000. Alliancebernstein L.P. bought a new stake in AVEO Pharmaceuticals in the third quarter worth $1,026,000. Two Sigma Advisers LP bought a new stake in AVEO Pharmaceuticals in the third quarter worth $132,000. Finally, Two Sigma Investments LP bought a new stake in AVEO Pharmaceuticals in the third quarter worth $387,000. 49.95% of the stock is currently owned by institutional investors.

About AVEO Pharmaceuticals

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AVEO Pharmaceuticals, Inc is a biopharmaceutical company, which engages in the advancement of therapeutics for oncology, and other areas of unmet medical need. Its product candidates include Tivozanib, Ficlatuzmab, AV-203, AV-380 and AV-353. The company was founded by Ronald A. DePinho, Lynda Chin, and Kenneth E.