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NEW YORK ( TheStreet) -- AVEO Pharmaceuticals (Nasdaq: AVEO) hit a new 52-week low Tuesday as it is currently trading at $12.92, below its previous 52-week low of $13 with 446,169 shares traded as of 2:40 p.m. ET. Average volume has been 306,900 shares over the past 30 days. AVEO has a market cap of $604.4 million and is part of the health care sector and drugs industry. Shares are down 20% year to date as of the close of trading on Monday. AVEO Pharmaceuticals, Inc., a biopharmaceutical company, engages in the discovery and development of cancer therapeutics. The company has a P/E ratio of 11.3, above the average drugs industry P/E ratio of 10 and below the S&P 500 P/E ratio of 17.7.