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

Aptevo Therapeutics Inc. (NASDAQ:APVO) was the recipient of a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 38,000 shares, a drop of 94.8% from the November 15th total of 734,600 shares. Based on an average trading volume of 190,900 shares, the days-to-cover ratio is presently 0.2 days. Currently, 7.6% of the company’s stock are sold short.

Aptevo Therapeutics Stock Down 27.4 %

Shares of APVO traded down $1.54 during midday trading on Friday, reaching $4.09. 805,783 shares of the stock were exchanged, compared to its average volume of 131,620. Aptevo Therapeutics has a 12-month low of $4.09 and a 12-month high of $399.60. The firm has a 50 day simple moving average of $289.00 and a 200-day simple moving average of $482.52.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on APVO shares. Roth Mkm cut their price target on Aptevo Therapeutics from $20,535.00 to $10,952.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. StockNews.com started coverage on Aptevo Therapeutics in a research note on Monday. They set a “sell” rating for the company.

Institutional Investors Weigh In On Aptevo Therapeutics

A hedge fund recently bought a new stake in Aptevo Therapeutics stock. Armistice Capital LLC acquired a new stake in Aptevo Therapeutics Inc. (NASDAQ:APVO) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 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 filing with the SEC. 8.06% of the stock is currently owned by 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.