Aptevo Therapeutics Inc. (NASDAQ:APVO) Sees Large Decrease in Short Interest

Aptevo Therapeutics Inc. (NASDAQ:APVO) saw a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 87,627 shares, a drop of 36.2% from the July 15th total of 137,249 shares. Approximately 5.8% of the company’s stock are short sold. Based on an average daily trading volume, of 19,324 shares, the days-to-cover ratio is presently 4.5 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Aptevo Therapeutics from a “sell (e+)” rating to a “sell (e)” rating in a research report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Institutional Investors Weigh In On Aptevo Therapeutics

A hedge fund recently bought a new stake in Aptevo Therapeutics stock. Virtu Financial LLC acquired a new position in Aptevo Therapeutics Inc. (NASDAQ:APVO) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 38,282 shares of the biotechnology company’s stock, valued at approximately $56,000. Virtu Financial LLC owned 1.16% of Aptevo Therapeutics as of its most recent SEC filing. 8.06% of the stock is currently owned by institutional investors and hedge funds.

Aptevo Therapeutics Stock Performance

Aptevo Therapeutics stock traded down $0.09 during midday trading on Wednesday, hitting $2.81. 73,162 shares of the company’s stock were exchanged, compared to its average volume of 95,997. Aptevo Therapeutics has a 12-month low of $2.60 and a 12-month high of $48.78. The firm’s 50 day simple moving average is $4.29 and its 200 day simple moving average is $5.00. The stock has a market cap of $4.27 million, a price-to-earnings ratio of -0.01 and a beta of 1.65.

Aptevo Therapeutics (NASDAQ:APVO) last issued its earnings results on Friday, August 14th. The biotechnology company reported ($5.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($6.02) by $0.71. On average, equities research analysts forecast that Aptevo Therapeutics will post -23.35 EPS for the current fiscal year.

About Aptevo Therapeutics

Aptevo Therapeutics, Inc is a clinical-stage biopharmaceutical company headquartered in Seattle, Washington, focused on the discovery and development of novel immunotherapies for oncology and autoimmune diseases. Founded in 2012 as a spin-off from Emergent BioSolutions, the company builds on expertise in protein engineering and translational research to create targeted biologics that engage the body’s immune system.

The company’s core technologies include the ADAPTIR platform, which enables the design of bispecific and multispecific protein scaffolds with customizable binding domains, and the KNOCKOUT platform, which incorporates non-natural amino acids to enhance therapeutic properties such as stability and half-life.