Aptevo Therapeutics (NASDAQ:APVO) Releases Quarterly Earnings Results, Beats Estimates By $0.70 EPS

Aptevo Therapeutics (NASDAQ:APVO) announced its quarterly earnings results on Friday. The biotechnology company reported ($5.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($6.01) by $0.70, FiscalAI reports.

Aptevo Therapeutics Stock Down 13.5%

Shares of APVO traded down $0.46 during trading on Friday, reaching $2.94. 79,027 shares of the company traded hands, compared to its average volume of 96,711. The stock has a 50-day simple moving average of $4.40 and a 200-day simple moving average of $5.11. Aptevo Therapeutics has a twelve month low of $2.84 and a twelve month high of $48.78. The stock has a market cap of $4.47 million, a PE ratio of -0.01 and a beta of 1.65.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Aptevo Therapeutics from a “sell (e)” rating to a “sell (e+)” rating in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Aptevo Therapeutics has an average rating of “Hold”.

Institutional Trading of Aptevo Therapeutics

A hedge fund recently bought a new position in Aptevo Therapeutics stock. Virtu Financial LLC acquired a new stake in Aptevo Therapeutics Inc. (NASDAQ:APVO) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 38,282 shares of the biotechnology company’s stock, valued at approximately $56,000. Virtu Financial LLC owned approximately 1.16% of Aptevo Therapeutics at the end of the most recent quarter. 8.06% of the stock is currently owned by institutional investors.

About Aptevo Therapeutics

Aptevo Therapeutics, Inc is a clinical-stage biopharmaceutical company headquartered in Seattle, Washington, focused on the discovery and development of novel immunotherapies for oncology and autoimmune diseases. Founded in 2012 as a spin-off from Emergent BioSolutions, the company builds on expertise in protein engineering and translational research to create targeted biologics that engage the body’s immune system.

The company’s core technologies include the ADAPTIR platform, which enables the design of bispecific and multispecific protein scaffolds with customizable binding domains, and the KNOCKOUT platform, which incorporates non-natural amino acids to enhance therapeutic properties such as stability and half-life.