AAL

AVEO Stock Sinks on Cancer Drug Data Delay

AVEO is on track for its worst day since 2013

Jul 17, 2018 at 10:05 AM
facebook X logo linkedin


The shares of AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) are spiraling, after the drugmaker said it has postponed the results of its late-stage TIVO-3 study for its kidney cancer treatment, with the results now expected for release in the fourth quarter. At last check, AVEO stock was down 20.4% to trade at $2.27 -- on track for its worst day since May 2013.

The volatile price action has sparked heavy options trading on AVEO already today, with more than 3,200 contracts traded -- 10 times what's typically seen at this point in the session. Most active is the August 3 call, where it looks like traders may be liquidating their positions.

And while short sellers are sidelined from getting in on today's action -- the sharp losses have AVEO stock on the short-sale restricted list -- these bearish bettors have been quick to target the drugmaker. Short interest spiked 62.6% in the most recent reporting period to a record 14.39 million shares.

Technically speaking, AVEO shares began trending lower after topping out at a four-year high of $4.24 last August. A late-June bounce from the $2.00-$2.20 region had the security rallying back up near $3, but today's bear gap has it once again testing the neighborhood that's served as support since April.

 

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.