Aura Biosciences (NASDAQ:AURA) Stock Jumps 3.6% - Still a Buy?

Key Points

• Aura Biosciences shares rose 3.6% to $6.39, though trading volume was 94% below the average daily volume.
• Analyst sentiment is mixed: two analysts rate the stock Buy and one rates it Sell, resulting in a consensus Hold rating and a $17.50 average price target.
• The company reported a quarterly loss of $0.48 per share, missing estimates by $0.10; analysts expect a full-year loss of $1.61 per share. Institutional investors own 96.75% of the stock.

Shares of Aura Biosciences, Inc. (NASDAQ:AURA - Get Free Report) rose 3.6% on Wednesday. The company traded as high as $6.26 and last traded at $6.39. 33,722 shares changed hands during trading, a decline of 94% from the average daily volume of 531,157 shares. The stock had previously closed at $6.17.

Analyst Upgrades and Downgrades

A number of analysts recently commented on AURA shares. Wall Street Zen cut shares of Aura Biosciences from a "hold" rating to a "sell" rating in a research report on Sunday, August 16th. Weiss Ratings upgraded Aura Biosciences from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, July 14th. Finally, HC Wainwright reduced their price target on Aura Biosciences from $24.00 to $18.00 and set a "buy" rating for the company in a research report on Tuesday, August 11th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $17.50.

Aura Biosciences Stock Performance

The business's 50-day moving average price is $7.11 and its 200 day moving average price is $7.07. The company has a market cap of $671.59 million, a P/E ratio of -3.70 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 for the quarter, missing the consensus estimate of ($0.38) by ($0.10). Equities research analysts forecast that Aura Biosciences, Inc. will post -1.61 earnings per share for the current year.

Institutional Trading of Aura Biosciences

Several large investors have recently made changes to their positions in AURA. Engineers Gate Manager LP bought a new stake in Aura Biosciences during the 2nd quarter worth approximately $158,000. Integrated Wealth Concepts LLC bought a new position in shares of Aura Biosciences during the second quarter valued at $54,000. Frazier Life Sciences Management L.P. lifted its holdings in shares of Aura Biosciences by 39.2% during the second quarter. Frazier Life Sciences Management L.P. now owns 7,100,000 shares of the company's stock worth $50,410,000 after purchasing an additional 2,000,000 shares during the period. Montanova Capital LLC grew its stake in shares of Aura Biosciences by 64.8% in the second quarter. Montanova Capital LLC now owns 7,206,217 shares of the company's stock worth $51,164,000 after purchasing an additional 2,833,333 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Aura Biosciences by 3.6% in the second quarter. Wellington Management Group LLP now owns 132,122 shares of the company's stock worth $938,000 after purchasing an additional 4,579 shares during the last quarter. Institutional investors and hedge funds own 96.75% of the company's stock.

Aura Biosciences Company Profile

Aura Biosciences, Inc is a clinical-stage biotechnology company focused on developing precision oncology therapies that selectively target and destroy cancer cells while preserving surrounding healthy tissue. The company's technology platform uses tumor-targeting virus-like particles and light-activated compounds to deliver localized anticancer treatment.

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

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