Aptevo Therapeutics (NASDAQ:APVO) Announces Earnings Results

Aptevo Therapeutics (NASDAQ:APVO) issued its quarterly earnings results on Wednesday. The biotechnology company reported ($6.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($5.60) by ($0.81), Zacks reports.

Aptevo Therapeutics Price Performance

Shares of APVO traded down $0.07 during trading hours on Wednesday, hitting $4.76. The stock had a trading volume of 17,850 shares, compared to its average volume of 129,409. The firm has a 50 day simple moving average of $4.93 and a 200-day simple moving average of $11.89. The firm has a market capitalization of $5.62 million, a P/E ratio of 0.00 and a beta of 1.64. Aptevo Therapeutics has a 1-year low of $3.80 and a 1-year high of $258.01.

Institutional Trading of Aptevo Therapeutics

A hedge fund recently bought a new stake in Aptevo Therapeutics stock. Virtu Financial LLC bought a new stake in Aptevo Therapeutics Inc. (NASDAQ:APVO) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 38,282 shares of the biotechnology company’s stock, valued at approximately $56,000. Virtu Financial LLC owned 1.16% of Aptevo Therapeutics at the end of the most recent reporting period. Institutional investors own 8.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on APVO shares. Weiss Ratings upgraded Aptevo Therapeutics from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday. Wall Street Zen upgraded Aptevo Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, March 29th. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus 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.