Aptevo Therapeutics Inc. (NASDAQ:APVO) Stock Short Interest Drops 36.4%

Aptevo Therapeutics Inc. (NASDAQ:APVO) was the recipient of a large decline in short interest in September. As of September 30th, there was short interest totaling 119,457 shares, a decline of 36.4% from the September 15th total of 187,942 shares. Based on an average daily volume of 69,825 shares, the days-to-cover ratio is currently 1.7 days. Currently, 6.6% of the company’s stock are sold short.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Aptevo Therapeutics from a “sell (e)” rating to a “sell (e+)” rating in a report on Wednesday. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, Aptevo Therapeutics has an average rating of “Sell”.

Aptevo Therapeutics Stock Down 1.7%

Aptevo Therapeutics stock opened at $1.70 on Friday. The company has a fifty day simple moving average of $2.23 and a 200-day simple moving average of $3.79. Aptevo Therapeutics has a 12-month low of $1.37 and a 12-month high of $29.70.

Aptevo Therapeutics (NASDAQ:APVO) last posted its earnings results on Friday, August 14th. The biotechnology company reported ($5.31) EPS for the quarter, beating the consensus estimate of ($6.02) by $0.71. On average, equities research analysts expect that Aptevo Therapeutics will post -17.04 earnings per share for the current fiscal year.

About Aptevo Therapeutics

Aptevo Therapeutics Inc is a clinical-stage biotechnology company focused on developing targeted immunotherapies for cancer and other serious diseases. The company’s research programs are designed to harness the immune system by directing immune cells toward specific disease-associated targets.

Aptevo’s pipeline is built primarily around its proprietary ADAPTIR bispecific antibody technology, which is intended to create therapeutic antibodies capable of binding to two different targets.