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

Aptevo Therapeutics Inc. (NASDAQ:APVO) was the target of a large growth in short interest in July. As of July 15th, there was short interest totaling 137,249 shares, a growth of 72.8% from the June 30th total of 79,436 shares. Based on an average daily trading volume, of 165,612 shares, the days-to-cover ratio is presently 0.8 days. Approximately 11.0% of the shares of the company are short sold.

Aptevo Therapeutics Stock Down 0.5%

Shares of APVO opened at $4.11 on Friday. The firm has a 50-day moving average price of $4.59 and a 200 day moving average price of $5.47. The firm has a market capitalization of $5.14 million, a PE ratio of -0.02 and a beta of 1.66. Aptevo Therapeutics has a 52-week low of $3.68 and a 52-week high of $52.73.

Aptevo Therapeutics (NASDAQ:APVO) last released its earnings results on Wednesday, May 13th. The biotechnology company reported ($6.41) EPS for the quarter, meeting the consensus estimate of ($6.41). On average, equities analysts expect that Aptevo Therapeutics will post -23.35 EPS for the current year.

Institutional Investors Weigh In On Aptevo Therapeutics

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

Analyst Ratings Changes

Separately, Weiss Ratings raised Aptevo Therapeutics from a “sell (e)” rating to a “sell (e+)” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

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.