Aura Biosciences (NASDAQ:AURA) Shares Climb 3.6% – Here’s What Happened

Aura Biosciences, Inc. (NASDAQ:AURA)’s share price traded up 3.6% during trading on Wednesday. The company traded as high as $6.26 and last traded at $6.39. 33,722 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 531,157 shares. The stock had previously closed at $6.17.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Aura Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th. Wall Street Zen downgraded shares of Aura Biosciences from a “hold” rating to a “sell” rating in a research note on Sunday, August 16th. Finally, HC Wainwright dropped their target price on shares of Aura Biosciences from $24.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.50.

Aura Biosciences Stock Up 5.0%

The firm’s 50-day moving average price is $7.11 and its 200 day moving average price is $7.07. The company has a market capitalization of $671.59 million, a P/E ratio of -3.70 and a beta of 0.41.

Aura Biosciences (NASDAQ:AURA) last released 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). As a group, equities research analysts expect that Aura Biosciences, Inc. will post -1.61 EPS for the current year.

Institutional Trading of Aura Biosciences

Large investors have recently bought and sold shares of the company. Legal & General Group Plc bought a new stake in Aura Biosciences during the 2nd quarter valued at $29,000. Parallel Advisors LLC grew its position in shares of Aura Biosciences by 130.4% in the first quarter. Parallel Advisors LLC now owns 5,665 shares of the company’s stock valued at $38,000 after purchasing an additional 3,206 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Aura Biosciences during the 2nd quarter valued at $54,000. Engineers Gate Manager LP purchased a new stake in Aura Biosciences during the 2nd quarter worth about $158,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Aura Biosciences during the 2nd quarter worth about $192,000. 96.75% of the stock is owned by hedge funds and other institutional investors.

About Aura Biosciences

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.