Aptevo Therapeutics (NASDAQ:APVO) Trading Down 4.3% – Here’s What Happened

Aptevo Therapeutics Inc. (NASDAQ:APVO)’s stock price fell 4.3% during trading on Monday . The company traded as low as $1.30 and last traded at $1.32. 501,542 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 2,308,950 shares. The stock had previously closed at $1.38.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on APVO. Roth Capital upgraded shares of Aptevo Therapeutics to a “strong-buy” rating in a research report on Tuesday, September 16th. Wall Street Zen raised shares of Aptevo Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Weiss Ratings reissued a “sell (e)” rating on shares of Aptevo Therapeutics in a research report on Monday, November 24th. Finally, Zacks Research raised Aptevo Therapeutics to a “hold” rating in a report on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Aptevo Therapeutics has a consensus rating of “Hold”.

Aptevo Therapeutics Trading Up 8.7%

The firm has a market cap of $23.25 million, a price-to-earnings ratio of -0.01 and a beta of 1.41. The firm’s 50-day moving average is $1.45 and its 200-day moving average is $2.50.

Aptevo Therapeutics (NASDAQ:APVO) last issued its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($2.23) EPS for the quarter, missing analysts’ consensus estimates of ($2.09) by ($0.14). Analysts forecast that Aptevo Therapeutics Inc. will post -15.84 EPS for the current fiscal year.

Institutional Trading of Aptevo Therapeutics

An institutional investor recently bought a new position in Aptevo Therapeutics stock. Virtu Financial LLC acquired a new position in Aptevo Therapeutics Inc. (NASDAQ:APVO) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 38,282 shares of the biotechnology company’s stock, valued at approximately $56,000. Virtu Financial LLC owned 1.16% of Aptevo Therapeutics as of its most recent filing with the Securities & Exchange Commission. 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.