Aptevo Therapeutics Inc. (NASDAQ:APVO) Short Interest Down 38.8% in November

Aptevo Therapeutics Inc. (NASDAQ:APVO) was the target of a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 734,600 shares, a drop of 38.8% from the October 31st total of 1,200,000 shares. Based on an average daily volume of 6,700,000 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Investors Weigh In On Aptevo Therapeutics

An institutional investor recently bought a new position in Aptevo Therapeutics stock. Armistice Capital LLC bought a new position in shares of Aptevo Therapeutics Inc. (NASDAQ:APVO) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 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 quarter. 8.06% of the stock is currently owned by hedge funds and other institutional investors.

Aptevo Therapeutics Stock Performance

Shares of APVO traded down $0.07 during midday trading on Friday, hitting $0.28. The company had a trading volume of 2,663,165 shares, compared to its average volume of 3,761,649. Aptevo Therapeutics has a 1 year low of $0.14 and a 1 year high of $10.80. The company’s 50-day simple moving average is $0.23 and its 200-day simple moving average is $0.40.

Analyst Upgrades and Downgrades

APVO has been the topic of a number of research reports. Roth Mkm reduced their target price on shares of Aptevo Therapeutics from $15.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. StockNews.com assumed coverage on Aptevo Therapeutics in a research note on Saturday, November 23rd. They issued a “sell” rating on the stock.

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.