Aptevo Therapeutics (NASDAQ:APVO) Stock Passes Below 50 Day Moving Average – Time to Sell?

Aptevo Therapeutics Inc. (NASDAQ:APVO) passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $3.94 and traded as low as $2.31. Aptevo Therapeutics shares last traded at $2.37, with a volume of 21,523 shares traded.

Wall Street Analyst Weigh In

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

Aptevo Therapeutics Stock Performance

The company’s 50-day moving average price is $3.94 and its 200 day moving average price is $4.77. The stock has a market capitalization of $4.29 million, a P/E ratio of -0.05 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 for the quarter, topping the consensus estimate of ($6.02) by $0.71. Analysts predict that Aptevo Therapeutics Inc. will post -19.3 earnings per share for the current year.

Hedge Funds Weigh In On Aptevo Therapeutics

An institutional investor recently bought a new stake in Aptevo Therapeutics stock. Virtu Financial LLC bought a new position in shares of Aptevo Therapeutics Inc. (NASDAQ:APVO) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 38,282 shares of the biotechnology company’s stock, valued at approximately $56,000. Virtu Financial LLC owned approximately 1.16% of Aptevo Therapeutics at the end of the most recent quarter. 8.06% of the stock is currently owned by institutional investors.

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.