Could AVEO Pharmaceuticals, Inc. (AVEO) See a Reversal After Having Formed Several Months Wedge Down Chart Pattern

June 24, 2018 - By Darrin Black

AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) Logo

Investors sentiment decreased to 1.24 in 2018 Q1. Its down 1.57, from 2.81 in 2017Q4. It fall, as 12 investors sold AVEO Pharmaceuticals, Inc. shares while 17 reduced holdings. 16 funds opened positions while 20 raised stakes. 57.68 million shares or 3.14% less from 59.55 million shares in 2017Q4 were reported.
Sg Americas Securities Ltd Llc accumulated 12,085 shares or 0% of the stock. Grimes And Co Inc holds 0.01% in AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) or 22,600 shares. Savings Bank Of America De invested in 0% or 37,353 shares. Atlantic Trust Gru Ltd Liability Corporation has invested 0% in AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO). National Asset Management Inc has 0.1% invested in AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) for 239,455 shares. Schwab Charles Invest Mgmt Inc reported 28,629 shares stake. Ontario – Canada-based Scotia Cap Inc has invested 0% in AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO). Bluecrest Cap Mgmt Ltd, a Guernsey-based fund reported 172,314 shares. Edge Wealth Limited Liability Co invested in 0.01% or 10,000 shares. Moreover, Grp One Trading L P has 0% invested in AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO). New Leaf Venture Ptnrs Limited Liability Co holds 1.51% or 964,520 shares in its portfolio. United Services Automobile Association has 13,305 shares. The Connecticut-based Point72 Asset Mngmt Ltd Partnership has invested 0.01% in AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO). Prelude Cap Limited Company reported 131,501 shares. California Public Employees Retirement invested in 33,400 shares or 0% of the stock.

Since April 6, 2018, it had 40 buys, and 0 insider sales for $27.70 million activity. $2.12 million worth of AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) shares were bought by Florence Anthony A. Jr.. Sakoda Jon bought 70,873 shares worth $151,250. $2.12M worth of stock was bought by Growth Equity Opportunities IV – LLC on Friday, April 6. On Thursday, May 17 Sonsini Peter W. bought $503,423 worth of AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) or 236,479 shares. 70,873 AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) shares with value of $151,250 were bought by MOTT DAVID M. 70,873 AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) shares with value of $151,250 were bought by SANDELL SCOTT D.

The stock of AVEO Pharmaceuticals, Inc. (AVEO) formed a down wedge with $2.26 target or 6.00 % below today’s $2.40 share price. The 9 months wedge indicates high risk for the $369.97M company. If the $2.26 price target is reached, the company will be worth $22.20M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock increased 4.35% or $0.1 during the last trading session, reaching $2.4. About 2.92M shares traded or 60.73% up from the average. AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) has risen 182.80% since June 24, 2017 and is uptrending. It has outperformed by 170.23% the S&P500.

Analysts await AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) to report earnings on August, 8. They expect $-0.06 earnings per share, up 25.00 % or $0.02 from last year’s $-0.08 per share. After $-0.08 actual earnings per share reported by AVEO Pharmaceuticals, Inc. for the previous quarter, Wall Street now forecasts -25.00 % EPS growth.

AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) Ratings Coverage

Among 2 analysts covering AVEO Pharma (NASDAQ:AVEO), 2 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. AVEO Pharma had 5 analyst reports since January 16, 2018 according to SRatingsIntel. The firm has “Buy” rating given on Monday, February 12 by FBR Capital. On Tuesday, January 16 the stock rating was maintained by FBR Capital with “Buy”. The firm earned “Buy” rating on Tuesday, March 13 by FBR Capital. FBR Capital maintained it with “Buy” rating and $5.0 target in Thursday, March 22 report. The stock of AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) has “Buy” rating given on Thursday, March 29 by Piper Jaffray.

More news for AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) were recently published by: Digitaljournal.com, which released: “Deadline Upcoming in $15 Million Settlement in the AVEO Pharmaceuticals Inc (NASDAQ:AVEO) Investor Lawsuit” on May 25, 2018. Seekingalpha.com‘s article titled: “AVEO Pharmacueticals: Handicapping TIVO-3” and published on June 20, 2018 is yet another important article.

AVEO Pharmaceuticals, Inc., a biopharmaceutical company, develops targeted therapies for cancer and related diseases. The company has market cap of $369.97 million. The companyÂ’s pipeline of product candidates include Tivozanib, a vascular endothelial growth factor to optimize VEGF blockade; Ficlatuzumab, a hepatocyte growth factor (HGF) inhibitory antibody, which has completed Phase II trial that inhibits the activity of the HGF/c-Met pathway; and AV-203, an anti-ErbB3 specific monoclonal antibody that has completed a Phase I dose escalation study. It currently has negative earnings. The Company’s development programs also comprise AV-380, a humanized IgG1 inhibitory monoclonal antibody for the treatment or prevention of cachexia; and the AV-353 platform for the potential treatment of pulmonary arterial hypertension.

AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) Institutional Positions Chart

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