Aptevo Therapeutics (NASDAQ:APVO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, July 24th.
According to Zacks, “Aptevo Therapeutics Inc. is a biotechnology company which focused on developing oncology and hematology therapeutics. The company’s platform consists of ADAPTIR(TM). Its product pipeline includes WinRho (R) SDF, HepaGam B (R), VARIZIG(R) and IXINITY (R) which are in pre-clinical stage. Aptevo Therapeutics Inc. is based in Seattle, Washington. “
Other analysts have also issued reports about the company. Piper Jaffray Companies increased their price objective on Aptevo Therapeutics from $6.00 to $9.00 and gave the stock an “overweight” rating in a report on Thursday, May 10th. ValuEngine upgraded Aptevo Therapeutics from a “hold” rating to a “buy” rating in a report on Friday, June 1st. Finally, Roth Capital began coverage on Aptevo Therapeutics in a report on Wednesday, April 11th. They set a “buy” rating and a $12.00 price objective for the company.
Aptevo Therapeutics (NASDAQ:APVO) last issued its earnings results on Thursday, August 9th. The biotechnology company reported ($0.58) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.65) by $0.07. The business had revenue of $6.83 million during the quarter, compared to analyst estimates of $4.17 million. analysts predict that Aptevo Therapeutics will post -2.63 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of APVO. Citadel Advisors LLC increased its stake in shares of Aptevo Therapeutics by 215.4% in the first quarter. Citadel Advisors LLC now owns 39,653 shares of the biotechnology company’s stock worth $130,000 after purchasing an additional 27,079 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Aptevo Therapeutics in the second quarter worth about $148,000. Spark Investment Management LLC increased its stake in shares of Aptevo Therapeutics by 82.8% in the first quarter. Spark Investment Management LLC now owns 129,400 shares of the biotechnology company’s stock worth $423,000 after purchasing an additional 58,600 shares during the period. EAM Investors LLC bought a new position in shares of Aptevo Therapeutics in the second quarter worth about $552,000. Finally, Park West Asset Management LLC bought a new position in shares of Aptevo Therapeutics in the first quarter worth about $604,000. Institutional investors own 34.49% of the company’s stock.
About Aptevo Therapeutics
Aptevo Therapeutics Inc, a biotechnology company, engages in the discovery, development, commercialization, and sale of novel oncology and hematology therapeutics in the United States. Its marketed products include IXINITY, which is indicated in adults and children 12 years of age and older with hemophilia B for control and prevention of bleeding episodes, and management of bleeding during operations; and WinRho SDF for the treatment of autoimmune platelet disorders, as well as for the treatment of hemolytic disease of the newborn.
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