Aptevo Therapeutics (NASDAQ:APVO) Shares Cross Below 50-Day Moving Average – What’s Next?

Aptevo Therapeutics Inc. (NASDAQ:APVO) passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $3.94 and traded as low as $2.31. Aptevo Therapeutics shares last traded at $2.37, with a volume of 21,523 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered shares of Aptevo Therapeutics from a “sell (e+)” rating to a “sell (e)” rating in a research note on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold”.

Aptevo Therapeutics Stock Down 2.1%

The firm has a market cap of $4.29 million, a PE ratio of -0.05 and a beta of 1.65. The business has a 50 day simple moving average of $3.94 and a two-hundred day simple moving average of $4.77.

Aptevo Therapeutics (NASDAQ:APVO) last posted its quarterly earnings results on Friday, August 14th. The biotechnology company reported ($5.31) EPS for the quarter, topping analysts’ consensus estimates of ($6.02) by $0.71. Equities analysts forecast that Aptevo Therapeutics Inc. will post -19.3 earnings per share for the current year.

Hedge Funds Weigh In On Aptevo Therapeutics

An institutional investor recently bought a new position in Aptevo Therapeutics stock. Virtu Financial LLC purchased a new stake in shares of Aptevo Therapeutics Inc. (NASDAQ:APVO) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 38,282 shares of the biotechnology company’s stock, valued at approximately $56,000. Virtu Financial LLC owned approximately 1.16% of Aptevo Therapeutics as of its most recent filing with the Securities & Exchange Commission. 8.06% of the stock is owned by institutional investors.

About Aptevo Therapeutics

Aptevo Therapeutics, Inc is a clinical-stage biopharmaceutical company headquartered in Seattle, Washington, focused on the discovery and development of novel immunotherapies for oncology and autoimmune diseases. Founded in 2012 as a spin-off from Emergent BioSolutions, the company builds on expertise in protein engineering and translational research to create targeted biologics that engage the body’s immune system.

The company’s core technologies include the ADAPTIR platform, which enables the design of bispecific and multispecific protein scaffolds with customizable binding domains, and the KNOCKOUT platform, which incorporates non-natural amino acids to enhance therapeutic properties such as stability and half-life.