Aptevo Therapeutics (NASDAQ:APVO) Earns Sell Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Aptevo Therapeutics (NASDAQ:APVO) in a report released on Wednesday morning. The firm issued a sell rating on the biotechnology company’s stock.

Aptevo Therapeutics Price Performance

NASDAQ APVO opened at $0.35 on Wednesday. The stock has a fifty day moving average of $0.38 and a 200-day moving average of $1.49. Aptevo Therapeutics has a 52 week low of $0.28 and a 52 week high of $21.56.

Aptevo Therapeutics (NASDAQ:APVO) last announced its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($1.67) EPS for the quarter, topping analysts’ consensus estimates of ($1.93) by $0.26. On average, sell-side analysts anticipate that Aptevo Therapeutics will post -4.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 749,234 shares of the biotechnology company’s stock, valued at approximately $229,000. Armistice Capital LLC owned approximately 18.36% of Aptevo Therapeutics at the end of the most recent reporting period. 8.06% of the stock is owned by institutional investors.

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.