Aptevo Therapeutics (NASDAQ:APVO) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Aptevo Therapeutics (NASDAQ:APVO) in a research report released on Thursday morning. The firm issued a sell rating on the biotechnology company’s stock.

Aptevo Therapeutics Stock Performance

Shares of Aptevo Therapeutics stock opened at $0.17 on Thursday. Aptevo Therapeutics has a 52-week low of $0.14 and a 52-week high of $21.56. The company’s 50 day moving average price is $0.37 and its 200-day moving average price is $1.23.

Aptevo Therapeutics (NASDAQ:APVO) last announced its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($1.67) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.93) by $0.26. Sell-side analysts anticipate 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 bought a new position in shares of Aptevo Therapeutics Inc. (NASDAQ:APVO) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 749,234 shares of the biotechnology company’s stock, valued at approximately $229,000. Armistice Capital LLC owned 18.36% of Aptevo Therapeutics as of its most recent filing with the Securities and Exchange Commission. 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.