Aptevo Therapeutics (NASDAQ:APVO) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Aptevo Therapeutics (NASDAQ:APVOGet Rating) from a buy rating to a hold rating in a report issued on Monday, Zacks.com reports.

According to Zacks, “Aptevo Therapeutics Inc. is a biotechnology company which focused on developing oncology and hematology therapeutics. The company’s platform consists of ADAPTIR(TM). Its product pipeline includes WinRho (R) SDF, HepaGam B (R), VARIZIG(R) and IXINITY (R) which are in pre-clinical stage. Aptevo Therapeutics Inc. is based in Seattle, Washington. “

A number of other equities analysts have also recently weighed in on the stock. Piper Sandler reduced their price objective on shares of 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 report on Friday.

Shares of NASDAQ APVO opened at $4.63 on Monday. The company’s fifty day moving average price is $4.95 and its 200 day moving average price is $7.00. Aptevo Therapeutics has a 1 year low of $3.45 and a 1 year high of $31.76. The company has a debt-to-equity ratio of 3.05, a current ratio of 1.75 and a quick ratio of 1.75.

Aptevo Therapeutics (NASDAQ:APVOGet Rating) last announced its quarterly earnings results 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 return on equity of 717.67% and a negative net margin of 222.55%. As a group, analysts anticipate that Aptevo Therapeutics will post -4.94 earnings per share for the current year.

A number of large investors have recently bought and sold shares of the business. Moors & Cabot Inc. acquired a new position in Aptevo Therapeutics during the third quarter worth $3,729,000. Vanguard Group Inc. raised its position in shares of Aptevo Therapeutics by 7.3% in the first quarter. Vanguard Group Inc. now owns 240,819 shares of the biotechnology company’s stock valued at $1,414,000 after buying an additional 16,337 shares during the last quarter. Towercrest Capital Management acquired a new stake in shares of Aptevo Therapeutics in the third quarter valued at about $3,261,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Aptevo Therapeutics in the fourth quarter valued at about $1,233,000. Finally, BlackRock Inc. raised its position in shares of Aptevo Therapeutics by 1.9% in the third quarter. BlackRock Inc. now owns 55,394 shares of the biotechnology company’s stock valued at $856,000 after buying an additional 1,010 shares during the last quarter. Institutional investors own 33.64% of the company’s stock.

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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