Aptevo Therapeutics (NASDAQ:APVO) Coverage Initiated at StockNews.com
by Scott Moore · The Cerbat GemStockNews.com started coverage on shares of Aptevo Therapeutics (NASDAQ:APVO – Free Report) in a report issued on Thursday. The firm issued a sell rating on the biotechnology company’s stock.
Aptevo Therapeutics Stock Performance
Shares of APVO opened at $0.17 on Thursday. Aptevo Therapeutics has a fifty-two week low of $0.14 and a fifty-two week high of $21.56. The firm’s 50-day simple moving average is $0.37 and its two-hundred day simple moving average is $1.23.
Aptevo Therapeutics (NASDAQ:APVO – Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($1.67) earnings per share for the quarter, topping the consensus estimate of ($1.93) by $0.26. As a group, equities analysts expect that Aptevo Therapeutics will post -4.3 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Aptevo Therapeutics
An institutional investor recently bought a new position in Aptevo Therapeutics stock. Armistice Capital LLC purchased a new stake in shares of Aptevo Therapeutics Inc. (NASDAQ:APVO – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 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. Hedge funds and other institutional investors own 8.06% of the company’s stock.
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.
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