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

StockNews.com initiated coverage on shares of Aptevo Therapeutics (NASDAQ:APVO) in a research note released on Tuesday morning. The brokerage issued a sell rating on the biotechnology company’s stock.

Separately, Roth Mkm decreased their price target on shares of Aptevo Therapeutics from $15.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, September 23rd.

Aptevo Therapeutics Trading Down 10.3 %

Shares of NASDAQ:APVO opened at $0.25 on Tuesday. Aptevo Therapeutics has a 52-week low of $0.14 and a 52-week high of $15.14. The firm has a fifty day moving average of $0.26 and a 200 day moving average of $0.55.

Aptevo Therapeutics (NASDAQ:APVO) last announced its earnings results on Thursday, August 8th. The biotechnology company reported ($1.67) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.93) by $0.26. As a group, equities analysts anticipate that Aptevo Therapeutics will post -2.97 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Aptevo Therapeutics

An institutional investor recently bought a new position in Aptevo Therapeutics stock. Armistice Capital LLC purchased a new position in shares of Aptevo Therapeutics Inc. (NASDAQ:APVO) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period. 8.06% of the stock is currently owned by institutional investors and hedge funds.

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.