Short Interest in Aptevo Therapeutics Inc. (NASDAQ:APVO) Decreases By 92.1%

Aptevo Therapeutics Inc. (NASDAQ:APVO) was the target of a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 19,000 shares, a drop of 92.1% from the December 15th total of 241,700 shares. Based on an average trading volume of 325,400 shares, the days-to-cover ratio is currently 0.1 days. Approximately 1.3% of the shares of the stock are sold short.

Analyst Ratings Changes

A number of brokerages recently commented on APVO. StockNews.com began coverage on Aptevo Therapeutics in a research note on Monday, December 9th. They set a “sell” rating for the company. Roth Mkm decreased their price target on shares of Aptevo Therapeutics from $20,535.00 to $10,952.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Aptevo Therapeutics stock. Armistice Capital LLC purchased a new stake in shares of Aptevo Therapeutics Inc. (NASDAQ:APVO) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 749,234 shares of the biotechnology company’s stock, valued at approximately $229,000. Armistice Capital LLC owned about 18.36% of Aptevo Therapeutics as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 8.06% of the company’s stock.

Aptevo Therapeutics Price Performance

Aptevo Therapeutics stock opened at $4.55 on Tuesday. The firm has a 50-day moving average of $161.91 and a two-hundred day moving average of $329.93. Aptevo Therapeutics has a 1 year low of $3.65 and a 1 year high of $399.60.

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.