Fosun International Ltd acquired a new stake in shares of AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 313,306 shares of the biopharmaceutical company’s stock, valued at approximately $1,090,000. Fosun International Ltd owned 0.26% of AVEO Pharmaceuticals at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp increased its position in shares of AVEO Pharmaceuticals by 14.9% during the third quarter. Bank of New York Mellon Corp now owns 331,010 shares of the biopharmaceutical company’s stock worth $1,096,000 after acquiring an additional 42,937 shares during the period. Wells Fargo & Company MN increased its position in shares of AVEO Pharmaceuticals by 56.8% during the third quarter. Wells Fargo & Company MN now owns 195,143 shares of the biopharmaceutical company’s stock worth $646,000 after acquiring an additional 70,678 shares during the period. Birchview Capital LP increased its position in shares of 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 acquiring an additional 20,000 shares during the period. Northern Trust Corp increased its position in shares of AVEO Pharmaceuticals by 396.0% during the second quarter. Northern Trust Corp now owns 1,098,075 shares of the biopharmaceutical company’s stock worth $2,482,000 after acquiring an additional 876,703 shares during the period. Finally, Granahan Investment Management Inc. MA increased its position in shares of 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 acquiring an additional 25,134 shares during the period. Institutional investors and hedge funds own 49.77% of the company’s stock.

Shares of AVEO stock opened at $2.00 on Wednesday. The firm has a market cap of $235.65 million, a P/E ratio of -12.50 and a beta of 2.00. AVEO Pharmaceuticals, Inc. has a 12 month low of $1.49 and a 12 month high of $3.59.

A number of research firms have recently weighed in 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 on the stock. BidaskClub raised AVEO Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 29th. Zacks Investment Research upgraded shares of AVEO Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.25 target price for the company in a research note on Monday, November 12th. Finally, National Securities downgraded shares of AVEO Pharmaceuticals from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 6th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $5.42.

In other news, major shareholder Peter W. Sonsini bought 340,000 shares of the stock in a transaction that occurred on Thursday, November 15th. The stock was purchased at an average price of $1.86 per share, for a total transaction of $632,400.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Equity Opportunities Iv Growth bought 1,200,000 shares of the stock in a transaction that occurred on Monday, November 19th. The shares were purchased at an average price of $1.86 per share, with a total value of $2,232,000.00. The disclosure for this purchase can be found here. Insiders own 4.40% of the company’s stock.

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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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Institutional Ownership by Quarter for AVEO Pharmaceuticals (NASDAQ:AVEO)

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