Aptevo Therapeutics (NASDAQ:APVO) Issues Earnings Results, Misses Expectations By $0.40 EPS

Aptevo Therapeutics (NASDAQ:APVOGet Rating) announced its quarterly earnings data on Thursday. The biotechnology company reported ($1.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.15) by ($0.40), Fidelity Earnings reports. Aptevo Therapeutics had a negative net margin of 231.51% and a negative return on equity of 357.62%.

Shares of NASDAQ APVO opened at $4.60 on Friday. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 3.05. The stock’s fifty day simple moving average is $4.96 and its two-hundred day simple moving average is $7.18. Aptevo Therapeutics has a 12-month low of $3.45 and a 12-month high of $31.76.

Several institutional investors and hedge funds have recently modified their holdings of APVO. Bank of New York Mellon Corp purchased a new stake in shares of Aptevo Therapeutics during the 1st quarter valued at $152,000. Morgan Stanley lifted its holdings in shares of Aptevo Therapeutics by 31.9% during the 3rd quarter. Morgan Stanley now owns 11,028 shares of the biotechnology company’s stock valued at $170,000 after purchasing an additional 2,664 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Aptevo Therapeutics by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 39,924 shares of the biotechnology company’s stock valued at $616,000 after purchasing an additional 1,007 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Aptevo Therapeutics during the 4th quarter valued at $1,233,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Aptevo Therapeutics by 7.3% during the 1st quarter. Vanguard Group Inc. now owns 240,819 shares of the biotechnology company’s stock valued at $1,414,000 after purchasing an additional 16,337 shares during the last quarter. Hedge funds and other institutional investors own 33.64% of the company’s stock.

Several equities research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Aptevo Therapeutics from a “hold” rating to a “buy” rating and set a $6.75 price target for the company in a research report on Tuesday, March 29th. StockNews.com lowered Aptevo Therapeutics from a “hold” rating to a “sell” rating in a report on Friday. Finally, Piper Sandler dropped their target price on Aptevo Therapeutics from $69.00 to $20.00 in a research report on Friday.

About Aptevo Therapeutics (Get Rating)

Aptevo Therapeutics Inc, a clinical-stage biotechnology company, focuses on developing immunotherapeutic candidates for the treatment of various forms of cancer in the United States. Its lead clinical candidate is APVO436, a bispecific T-cell engaging antibody candidate that is in Phase 1b clinical trial for acute myelogenous leukemia and myelodysplastic syndrome.

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Earnings History for Aptevo Therapeutics (NASDAQ:APVO)

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