Aptevo Therapeutics (NASDAQ:APVO) Issues Earnings Results, Hits Expectations

Aptevo Therapeutics (NASDAQ:APVO) released its earnings results on Wednesday. The biotechnology company reported ($6.41) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($6.41), Zacks reports.

Aptevo Therapeutics Stock Performance

Aptevo Therapeutics stock opened at $4.80 on Friday. Aptevo Therapeutics has a 1 year low of $3.80 and a 1 year high of $258.01. The firm has a 50 day moving average price of $4.84 and a 200 day moving average price of $11.57. The company has a market cap of $5.66 million, a price-to-earnings ratio of 0.00 and a beta of 1.64.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on APVO shares. Wall Street Zen upgraded shares of Aptevo Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, March 29th. Weiss Ratings upgraded shares of Aptevo Therapeutics from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Aptevo Therapeutics currently has an average rating of “Hold”.

Institutional Investors Weigh In On Aptevo Therapeutics

A hedge fund recently bought a new stake in Aptevo Therapeutics stock. Virtu Financial LLC bought a new stake in shares of Aptevo Therapeutics Inc. (NASDAQ:APVO) during the 3rd quarter, according to its most recent filing with the SEC. The firm bought 38,282 shares of the biotechnology company’s stock, valued at approximately $56,000. Virtu Financial LLC owned 1.16% of Aptevo Therapeutics as of its most recent filing with the SEC. Institutional investors own 8.06% of the company’s stock.

Aptevo Therapeutics Company Profile

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.