Aptevo Therapeutics (NASDAQ:APVO) Price Target Cut to $20.00 by Analysts at Piper Sandler

Aptevo Therapeutics (NASDAQ:APVO – Get Rating) had its price target dropped by analysts at Piper Sandler from $69.00 to $20.00 in a research report issued on Friday, The Fly reports. Piper Sandler’s price objective would indicate a potential upside of 370.59% from the stock’s previous close.

APVO has been the subject of a number of other reports. StockNews.com initiated coverage on shares of Aptevo Therapeutics in a research note on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research raised shares of Aptevo Therapeutics from a “hold” rating to a “buy” rating and set a $6.75 price target for the company in a research report on Tuesday, March 29th.

NASDAQ:APVO opened at $4.25 on Friday. Aptevo Therapeutics has a twelve month low of $3.45 and a twelve month high of $31.76. The company has a debt-to-equity ratio of 3.05, a quick ratio of 1.51 and a current ratio of 1.51. The company has a 50-day moving average of $4.97 and a 200-day moving average of $7.25.

Aptevo Therapeutics (NASDAQ:APVO – Get Rating) last posted its quarterly earnings data on Thursday, May 12th. The biotechnology company reported ($1.55) earnings per share for the quarter, missing the consensus estimate of ($1.15) by ($0.40). Aptevo Therapeutics had a negative net margin of 231.51% and a negative return on equity of 357.62%. Analysts forecast that Aptevo Therapeutics will post -4.43 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Morgan Stanley lifted its position in shares of Aptevo Therapeutics by 163.4% in the second quarter. Morgan Stanley now owns 8,364 shares of the biotechnology company’s stock worth $187,000 after purchasing an additional 5,189 shares in the last quarter. GSA Capital Partners LLP bought a new position in Aptevo Therapeutics during the third quarter valued at approximately $211,000. Franklin Resources Inc. bought a new position in Aptevo Therapeutics during the third quarter valued at approximately $242,000. Bank of New York Mellon Corp bought a new position in Aptevo Therapeutics during the first quarter valued at approximately $152,000. Finally, Marshall Wace LLP bought a new position in Aptevo Therapeutics during the first quarter valued at approximately $33,000. 33.64% of the stock is owned by institutional investors and hedge funds.

About Aptevo Therapeutics (Get Rating)

Aptevo Therapeutics Inc, a clinical-stage biotechnology company, focuses on developing immunotherapeutic candidates for the treatment of various forms of cancer in the United States. Its lead clinical candidate is APVO436, a bispecific T-cell engaging antibody candidate that is in Phase 1b clinical trial for acute myelogenous leukemia and myelodysplastic syndrome.

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