Aptevo Therapeutics Inc. (NASDAQ:APVO) Short Interest Down 78.8% in September

Aptevo Therapeutics Inc. (NASDAQ:APVO) saw a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 13,000 shares, a decrease of 78.8% from the August 31st total of 61,400 shares. Based on an average daily trading volume, of 6,410,000 shares, the days-to-cover ratio is currently 0.0 days.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. StockNews.com initiated coverage on Aptevo Therapeutics in a report on Friday. They set a “sell” rating on the stock. Roth Mkm reduced their target price on Aptevo Therapeutics from $15.00 to $8.00 and set a “buy” rating for the company in a research note on Monday.

Institutional Investors Weigh In On Aptevo Therapeutics

A hedge fund recently bought a new stake in Aptevo Therapeutics stock. Armistice Capital LLC purchased a new stake in Aptevo Therapeutics Inc. (NASDAQ:APVO) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). 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 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 8.06% of the company’s stock.

Aptevo Therapeutics Trading Down 2.8 %

Aptevo Therapeutics stock traded down $0.01 during midday trading on Friday, reaching $0.18. The company had a trading volume of 344,159 shares, compared to its average volume of 2,561,803. Aptevo Therapeutics has a 12-month low of $0.14 and a 12-month high of $21.56. The firm’s fifty day simple moving average is $0.36 and its 200-day simple moving average is $1.14.

Aptevo Therapeutics (NASDAQ:APVO) last released its earnings results on Thursday, August 8th. The biotechnology company reported ($1.67) earnings per share for the quarter, beating the consensus estimate of ($1.93) by $0.26. On average, sell-side analysts predict that Aptevo Therapeutics will post -4.3 EPS for the current fiscal year.

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.