Aptevo Therapeutics (NASDAQ:APVO) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Aptevo Therapeutics (NASDAQ:APVO) in a report issued on Wednesday morning. The brokerage issued a sell rating on the biotechnology company’s stock.

Separately, Roth Mkm dropped their target price on Aptevo Therapeutics from $15.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, September 23rd.

Aptevo Therapeutics Trading Down 8.1 %

Shares of NASDAQ:APVO opened at $0.25 on Wednesday. Aptevo Therapeutics has a twelve month low of $0.14 and a twelve month high of $13.11. The firm’s 50 day moving average price is $0.25 and its 200-day moving average price is $0.47.

Aptevo Therapeutics (NASDAQ:APVO) last released its earnings results on Thursday, August 8th. The biotechnology company reported ($1.67) EPS for the quarter, topping the consensus estimate of ($1.93) by $0.26. As a group, analysts predict that Aptevo Therapeutics will post -2.97 EPS for the current fiscal year.

Institutional Investors Weigh In On Aptevo Therapeutics

A hedge fund recently bought a new stake in Aptevo Therapeutics stock. Armistice Capital LLC bought a new stake in Aptevo Therapeutics Inc. (NASDAQ:APVO) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 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 Securities & Exchange Commission. 8.06% of the stock is 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.