Short Interest in Aptevo Therapeutics Inc. (NASDAQ:APVO) Declines By 36.2%

Aptevo Therapeutics Inc. (NASDAQ:APVO) was the recipient of a significant decrease in short interest in July. As of July 31st, there was short interest totaling 87,627 shares, a decrease of 36.2% from the July 15th total of 137,249 shares. Approximately 5.8% of the company’s stock are sold short. Based on an average daily volume of 19,324 shares, the short-interest ratio is currently 4.5 days.

Aptevo Therapeutics Stock Down 4.4%

Shares of APVO stock opened at $2.81 on Tuesday. Aptevo Therapeutics has a 12 month low of $2.81 and a 12 month high of $48.78. The business’s 50 day moving average is $4.33 and its two-hundred day moving average is $5.03. The company has a market cap of $4.27 million, a PE ratio of -0.01 and a beta of 1.65.

Aptevo Therapeutics (NASDAQ:APVO) last issued its quarterly earnings data on Friday, August 14th. The biotechnology company reported ($5.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($5.57) by $0.26. As a group, equities analysts expect that Aptevo Therapeutics will post -23.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Aptevo Therapeutics

An institutional investor recently bought a new stake in Aptevo Therapeutics stock. Virtu Financial LLC purchased a new stake in Aptevo Therapeutics Inc. (NASDAQ:APVO) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 38,282 shares of the biotechnology company’s stock, valued at approximately $56,000. Virtu Financial LLC owned about 1.16% of Aptevo Therapeutics as of its most recent filing with the Securities & Exchange Commission. 8.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings cut Aptevo Therapeutics from a “sell (e+)” rating to a “sell (e)” rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Aptevo Therapeutics Company Profile

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.