Aura Biosciences (NASDAQ:AURA) Stock Price Up 6.5% – Here’s Why

Aura Biosciences, Inc. (NASDAQ:AURA) shares rose 6.5% during trading on Tuesday . The stock traded as high as $8.13 and last traded at $8.18. 424,368 shares were traded during mid-day trading, a decline of 8% from the average session volume of 462,903 shares. The stock had previously closed at $7.68.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AURA. HC Wainwright reduced their target price on Aura Biosciences from $24.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Wall Street Zen cut Aura Biosciences from a “hold” rating to a “sell” rating in a research note on Sunday. Weiss Ratings upgraded Aura Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th. Finally, Leerink Partners set a $17.00 price target on Aura Biosciences in a research note on Tuesday, May 12th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Aura Biosciences presently has an average rating of “Hold” and a consensus target price of $17.50.

Aura Biosciences Price Performance

The stock’s 50 day simple moving average is $7.11 and its two-hundred day simple moving average is $6.80. The firm has a market cap of $807.90 million, a P/E ratio of -4.45 and a beta of 0.40.

Aura Biosciences (NASDAQ:AURA) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.10). Equities research analysts anticipate that Aura Biosciences, Inc. will post -1.61 earnings per share for the current year.

Insider Transactions at Aura Biosciences

In other Aura Biosciences news, insider Anthony S. Gibney sold 12,824 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $6.42, for a total value of $82,330.08. Following the sale, the insider directly owned 265,354 shares of the company’s stock, valued at approximately $1,703,572.68. The trade was a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Aura Biosciences

Several institutional investors and hedge funds have recently modified their holdings of AURA. Legal & General Group Plc bought a new position in Aura Biosciences in the 2nd quarter worth about $29,000. Parallel Advisors LLC raised its holdings in Aura Biosciences by 130.4% in the first quarter. Parallel Advisors LLC now owns 5,665 shares of the company’s stock worth $38,000 after buying an additional 3,206 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Aura Biosciences by 49.3% in the second quarter. Tower Research Capital LLC TRC now owns 6,372 shares of the company’s stock worth $40,000 after buying an additional 2,104 shares during the last quarter. ProShare Advisors LLC bought a new position in shares of Aura Biosciences in the fourth quarter worth approximately $59,000. Finally, Water Island Capital LLC purchased a new stake in shares of Aura Biosciences during the third quarter valued at approximately $64,000. 96.75% of the stock is currently owned by institutional investors.

About Aura Biosciences

Aura Biosciences is a clinical‐stage biopharmaceutical company focused on the development of novel virus‐like particle (VLP) therapies for the treatment of cancer. By combining proprietary VLP technology with photoactivatable dyes, Aura aims to deliver highly selective photodynamic therapies that target and destroy tumor cells while sparing healthy tissue. The company’s platform is designed to address solid tumors in both ophthalmic and non‐ophthalmic settings, leveraging precision activation via near‐infrared light to induce localized tumor cell apoptosis and stimulate anti‐tumor immune responses.

The lead product candidate, AU-011, is being evaluated in patients with choroidal melanoma, a rare but potentially sight-threatening eye cancer.