Aptevo Therapeutics (NASDAQ:APVO) Cut to Sell at StockNews.com

StockNews.com cut shares of Aptevo Therapeutics (NASDAQ:APVOGet Rating) from a hold rating to a sell rating in a research note issued to investors on Friday morning.

A number of other brokerages also recently issued reports on APVO. Zacks Investment Research raised shares of Aptevo Therapeutics from a hold rating to a buy rating and set a $6.75 price objective for the company in a research report on Tuesday, March 29th. Piper Sandler cut their price objective on shares of Aptevo Therapeutics from $69.00 to $20.00 in a research report on Friday.

Shares of APVO opened at $4.60 on Friday. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 3.05. The firm has a fifty day simple moving average of $4.96 and a two-hundred day simple moving average of $7.18. Aptevo Therapeutics has a 1-year low of $3.45 and a 1-year high of $31.76.

Aptevo Therapeutics (NASDAQ:APVOGet Rating) last issued its quarterly earnings data on Thursday, May 12th. The biotechnology company reported ($1.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. As a group, analysts forecast that Aptevo Therapeutics will post -4.43 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Aptevo Therapeutics by 7.3% in the 1st quarter. Vanguard Group Inc. now owns 240,819 shares of the biotechnology company’s stock worth $1,414,000 after buying an additional 16,337 shares during the period. Schonfeld Strategic Advisors LLC bought a new position in Aptevo Therapeutics in the 4th quarter worth $1,233,000. Geode Capital Management LLC boosted its holdings in Aptevo Therapeutics by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 39,924 shares of the biotechnology company’s stock worth $616,000 after buying an additional 1,007 shares during the period. Morgan Stanley boosted its holdings in Aptevo Therapeutics by 163.4% in the 2nd quarter. Morgan Stanley now owns 8,364 shares of the biotechnology company’s stock worth $187,000 after buying an additional 5,189 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in Aptevo Therapeutics in the 1st quarter worth $152,000. 33.64% of the stock is owned by institutional investors.

Aptevo Therapeutics Company Profile (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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