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

Aptevo Therapeutics Inc. (NASDAQ:APVO) was the target of a significant increase in short interest in October. As of October 31st, there was short interest totalling 1,200,000 shares, an increase of 675.7% from the October 15th total of 154,700 shares. Based on an average daily volume of 6,330,000 shares, the days-to-cover ratio is currently 0.2 days.

Aptevo Therapeutics Trading Down 3.9 %

NASDAQ APVO traded down $0.01 during trading on Tuesday, reaching $0.28. 587,630 shares of the company’s stock were exchanged, compared to its average volume of 3,826,096. Aptevo Therapeutics has a fifty-two week low of $0.14 and a fifty-two week high of $10.80. The company’s fifty day simple moving average is $0.24 and its 200-day simple moving average is $0.45.

Institutional Investors Weigh In On Aptevo Therapeutics

An institutional investor recently bought a new position in Aptevo Therapeutics stock. Armistice Capital LLC bought a new position in shares of Aptevo Therapeutics Inc. (NASDAQ:APVO) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 749,234 shares of the biotechnology company’s stock, valued at approximately $229,000. Armistice Capital LLC owned about 18.36% of Aptevo Therapeutics at the end of the most recent reporting period. 8.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on APVO shares. StockNews.com began coverage on shares of Aptevo Therapeutics in a research note on Thursday, November 7th. They set a “sell” rating for the company. Roth Mkm reduced their price objective on Aptevo Therapeutics from $15.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, September 23rd.

About Aptevo Therapeutics

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.