Aptevo Therapeutics (NASDAQ:APVO) Posts Earnings Results, Misses Expectations By $0.40 EPS

Aptevo Therapeutics (NASDAQ:APVOGet Rating) announced its earnings results on Thursday. The biotechnology company reported ($1.55) EPS for the quarter, missing the consensus estimate of ($1.15) by ($0.40), Fidelity Earnings reports. Aptevo Therapeutics had a negative return on equity of 357.62% and a negative net margin of 231.51%.

APVO opened at $4.60 on Friday. 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 stock’s fifty day simple moving average is $4.96 and its 200 day simple moving average is $7.18. Aptevo Therapeutics has a 1-year low of $3.45 and a 1-year high of $31.76.

A number of research firms recently issued reports on APVO. Piper Sandler lowered their target price on Aptevo Therapeutics from $69.00 to $20.00 in a research report on Friday. StockNews.com cut shares of Aptevo Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Zacks Investment Research upgraded 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 note on Tuesday, March 29th.

Hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp bought a new position in Aptevo Therapeutics during the 1st quarter worth $152,000. Morgan Stanley grew its stake in shares of Aptevo Therapeutics by 31.9% in the third quarter. Morgan Stanley now owns 11,028 shares of the biotechnology company’s stock valued at $170,000 after acquiring an additional 2,664 shares in the last quarter. Geode Capital Management LLC increased its position in Aptevo Therapeutics by 2.6% during the third quarter. Geode Capital Management LLC now owns 39,924 shares of the biotechnology company’s stock worth $616,000 after acquiring an additional 1,007 shares during the period. Schonfeld Strategic Advisors LLC acquired a new stake in Aptevo Therapeutics in the 4th quarter worth about $1,233,000. Finally, 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 valued at $1,414,000 after purchasing an additional 16,337 shares during the period. 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.

Featured Stories

Earnings History for Aptevo Therapeutics (NASDAQ:APVO)

Receive News & Ratings for Aptevo Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aptevo Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.