Aptevo Therapeutics (NASDAQ:APVO) Receives New Coverage from Analysts at StockNews.com

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

Aptevo Therapeutics Stock Performance

Shares of APVO opened at $0.33 on Tuesday. The firm’s 50-day simple moving average is $0.38 and its two-hundred day simple moving average is $1.78. Aptevo Therapeutics has a fifty-two week low of $0.28 and a fifty-two week high of $21.56.

Aptevo Therapeutics (NASDAQ:APVO) last posted its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($1.67) earnings per share for the quarter, topping the consensus estimate of ($1.93) by $0.26. As a group, equities analysts expect that Aptevo Therapeutics will post -4.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aptevo Therapeutics

An institutional investor recently bought a new position in Aptevo Therapeutics stock. Armistice Capital LLC acquired a new stake in shares of Aptevo Therapeutics Inc. (NASDAQ:APVO) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 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 and Exchange Commission. Hedge funds and other institutional investors 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.