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

Aura Biosciences, Inc. (NASDAQ:AURA)’s stock price passed above its 50 day moving average during trading on Wednesday. The stock has a 50 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 traded.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. HC Wainwright decreased their price objective on shares of Aura Biosciences from $24.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Aura Biosciences in a research note on Monday, October 12th. Finally, Wall Street Zen cut shares of Aura Biosciences from a “hold” rating to a “sell” rating in a research report on Sunday, August 16th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Aura Biosciences currently has an average rating of “Hold” and a consensus price target of $17.50.

Aura Biosciences Trading Up 6.6%

The business’s 50-day moving average is $6.59 and its two-hundred day moving average is $6.71. The firm has a market cap of $689.67 million, a P/E ratio of -3.80 and a beta of 0.41.

Aura Biosciences (NASDAQ:AURA) last issued its earnings results on Tuesday, August 11th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.10). On average, analysts anticipate that Aura Biosciences, Inc. will post -1.61 earnings per share for the current year.

Institutional Trading of Aura Biosciences

Several hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Aura Biosciences in the 2nd quarter worth approximately $33,424,000. Nantahala Capital Management LLC bought a new position in Aura Biosciences during the 2nd quarter worth $20,952,313. Montanova Capital LLC grew its stake in Aura Biosciences by 64.8% during the 2nd quarter. Montanova Capital LLC now owns 7,206,217 shares of the company’s stock worth $51,164,000 after buying an additional 2,833,333 shares during the last quarter. Jupiter Topco LLC bought a new position in Aura Biosciences during the 2nd quarter worth $17,788,000. Finally, Frazier Life Sciences Management L.P. increased its position in Aura Biosciences by 39.2% in 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 buying an additional 2,000,000 shares during the period. Institutional investors own 96.75% of the company’s stock.

About Aura Biosciences

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.