Aura Biosciences (NASDAQ:AURA) Shares Break Above Fifty Day Moving Average - Time to Sell?

Key Points

• Aura Biosciences shares rose 6.6% and briefly crossed above their 50-day moving average of $6.59, trading as high as $6.66.
• Analyst views are mixed: MarketBeat reports an average Hold rating and $17.50 price target, with two Buy ratings and one Sell; HC Wainwright recently cut its target to $18.
• The company reported a quarterly loss of $0.48 per share, missing the $0.38 loss analysts expected. Analysts forecast a full-year loss of $1.61 per share.

Aura Biosciences, Inc. (NASDAQ:AURA - Get Free Report) shares crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $6.59 and traded as high as $6.66. Aura Biosciences shares last traded at $6.65, with a volume of 1,001,899 shares.

Analyst Ratings Changes

AURA has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Aura Biosciences in a research report on Monday, October 12th. Wall Street Zen lowered shares of Aura Biosciences from a "hold" rating to a "sell" rating in a research report on Sunday, August 16th. Finally, HC Wainwright cut their target price on shares of Aura Biosciences from $24.00 to $18.00 and set a "buy" rating on the stock in a research note on Tuesday, August 11th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $17.50.

Aura Biosciences Trading Up 6.6%

The firm has a 50-day moving average of $6.59 and a 200 day moving average of $6.71. The stock has a market capitalization of $689.67 million, a price-to-earnings ratio of -3.80 and a beta of 0.41.

Aura Biosciences (NASDAQ:AURA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.10). As a group, research analysts forecast that Aura Biosciences, Inc. will post -1.61 EPS for the current year.

Institutional Investors Weigh In On Aura Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Aura Biosciences during the second quarter worth about $33,424,000. Nantahala Capital Management LLC purchased a new position in Aura Biosciences in the second quarter valued at about $20,952,313. Montanova Capital LLC boosted its holdings in Aura Biosciences by 64.8% in the second quarter. Montanova Capital LLC now owns 7,206,217 shares of the company's stock valued at $51,164,000 after purchasing an additional 2,833,333 shares during the last quarter. Jupiter Topco LLC acquired a new stake in Aura Biosciences during the 2nd quarter valued at approximately $17,788,000. Finally, Frazier Life Sciences Management L.P. grew its stake in Aura Biosciences by 39.2% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 7,100,000 shares of the company's stock valued at $50,410,000 after purchasing an additional 2,000,000 shares in the last quarter. Hedge funds and other institutional investors own 96.75% of the company's stock.

Aura Biosciences Company Profile

Aura Biosciences, Inc NASDAQ: AURA is a clinical-stage biotechnology company developing targeted therapies for cancer. The company's platform is designed to use tumor-targeting virus-like particles to selectively bind to cancer cells and deliver therapeutic payloads, with the goal of treating tumors while limiting damage to surrounding healthy tissue.

Aura's lead product candidate is AU-011, also known as belzupacap sarotalocan, an investigational therapy being developed for primary choroidal melanoma, a form of eye cancer.

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