Aptevo Therapeutics Inc. (NASDAQ:APVO) Sees Significant Increase in Short Interest

Aptevo Therapeutics Inc. (NASDAQ:APVO) was the target of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 1,200,000 shares, a growth of 675.7% from the October 15th total of 154,700 shares. Based on an average trading volume of 6,330,000 shares, the days-to-cover ratio is currently 0.2 days.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on APVO shares. Roth Mkm decreased their price target on shares of Aptevo Therapeutics from $15.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. StockNews.com assumed coverage on shares of Aptevo Therapeutics in a research note on Thursday, November 7th. They set a “sell” rating for the company.

Aptevo Therapeutics Trading Down 11.6 %

Shares of APVO stock opened at $0.24 on Thursday. The business’s 50 day moving average is $0.24 and its two-hundred day moving average is $0.45. Aptevo Therapeutics has a twelve month low of $0.14 and a twelve month high of $10.80.

Hedge Funds Weigh In On Aptevo Therapeutics

An institutional investor recently bought a new position in Aptevo Therapeutics stock. Armistice Capital LLC bought a new stake in Aptevo Therapeutics Inc. (NASDAQ:APVO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 749,234 shares of the biotechnology company’s stock, valued at approximately $229,000. Armistice Capital LLC owned approximately 18.36% of Aptevo Therapeutics as of its most recent SEC filing. 8.06% of the stock is owned by hedge funds and other institutional investors.

About Aptevo Therapeutics

Aptevo Therapeutics Inc, a clinical-stage research and development biotechnology company, focuses on developing immunotherapeutic candidates for the treatment of various forms of cancer in the United States. It develops its products using ADAPTIR and ADAPTIR-FLEX platforms to generate monospecific, bispecific, and multi-specific antibody candidates capable of enhancing the human immune system against cancer cells.