StockNews.com Begins Coverage on Aptevo Therapeutics (NASDAQ:APVO)

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

Aptevo Therapeutics Price Performance

APVO stock opened at $0.35 on Wednesday. Aptevo Therapeutics has a 1-year low of $0.28 and a 1-year high of $21.56. The stock has a 50-day moving average price of $0.38 and a 200-day moving average price of $1.53.

Aptevo Therapeutics (NASDAQ:APVO) last issued its earnings results on Thursday, August 8th. The biotechnology company reported ($1.67) EPS for the quarter, beating analysts’ consensus estimates of ($1.93) by $0.26. As a group, equities research analysts forecast that Aptevo Therapeutics will post -4.3 earnings per share for the current year.

Institutional Trading of Aptevo Therapeutics

A hedge fund recently bought a new stake in Aptevo Therapeutics stock. Armistice Capital LLC bought a new stake in Aptevo Therapeutics Inc. (NASDAQ:APVO) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 reporting period. 8.06% of the stock is owned by hedge funds and other 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.