StockNews.com Initiates Coverage on Aptevo Therapeutics (NASDAQ:APVO)

Investment analysts at StockNews.com started coverage on shares of Aptevo Therapeutics (NASDAQ:APVO) in a report issued on Tuesday. The brokerage set a “sell” rating on the biotechnology company’s stock.

Aptevo Therapeutics Stock Performance

Shares of APVO opened at $0.36 on Tuesday. Aptevo Therapeutics has a 52 week low of $0.28 and a 52 week high of $21.56. The stock’s 50-day moving average price is $0.38 and its 200-day moving average price is $1.80.

Aptevo Therapeutics (NASDAQ:APVO) last issued its earnings results on Thursday, August 8th. The biotechnology company reported ($1.67) EPS for the quarter, topping analysts’ consensus estimates of ($1.93) by $0.26. Research analysts predict that Aptevo Therapeutics will post -4.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

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.