Aptevo Therapeutics (NASDAQ:APVO) Announces Quarterly Earnings Results

Aptevo Therapeutics (NASDAQ:APVO) posted its earnings results on Friday. The biotechnology company reported ($5.31) EPS for the quarter, topping analysts’ consensus estimates of ($6.01) by $0.70, FiscalAI reports.

Aptevo Therapeutics Price Performance

NASDAQ:APVO opened at $2.94 on Friday. The firm’s 50 day simple moving average is $4.37 and its 200 day simple moving average is $5.10. Aptevo Therapeutics has a one year low of $2.84 and a one year high of $48.78. The company has a market cap of $4.46 million, a PE ratio of -0.01 and a beta of 1.65.

Hedge Funds Weigh In On Aptevo Therapeutics

A hedge fund recently bought a new position in Aptevo Therapeutics stock. Virtu Financial LLC purchased a new stake in shares of Aptevo Therapeutics Inc. (NASDAQ:APVO) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 38,282 shares of the biotechnology company’s stock, valued at approximately $56,000. Virtu Financial LLC owned about 1.16% of Aptevo Therapeutics as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 8.06% of the company’s stock.

Wall Street Analyst Weigh In

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

Aptevo Therapeutics Company Profile

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.