Aptevo Therapeutics (NASDAQ:APVO) Stock Passes Below 50-Day Moving Average of $3.62

Aptevo Therapeutics Inc. (NASDAQ:APVO) shares passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $3.62 and traded as low as $1.04. Aptevo Therapeutics shares last traded at $1.13, with a volume of 25,926,523 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Aptevo Therapeutics in a report on Thursday, April 18th. They set a “sell” rating on the stock.

Aptevo Therapeutics Trading Down 12.5 %

The stock has a fifty day simple moving average of $3.52 and a two-hundred day simple moving average of $6.81.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Aptevo Therapeutics stock. Sabby Management LLC acquired a new position in shares of Aptevo Therapeutics Inc. (NASDAQ:APVO) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,334,169 shares of the biotechnology company’s stock, valued at approximately $440,000. Aptevo Therapeutics makes up about 0.3% of Sabby Management LLC’s investment portfolio, making the stock its 11th biggest position. Sabby Management LLC owned 11.58% of Aptevo Therapeutics at the end of the most recent quarter. Institutional investors and hedge funds own 8.06% of the company’s stock.

Aptevo Therapeutics Company Profile

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.