Zacks: Brokerages Anticipate Aptevo Therapeutics Inc. (NASDAQ:APVO) to Post -$1.33 Earnings Per Share

Wall Street analysts predict that Aptevo Therapeutics Inc. (NASDAQ:APVOGet Rating) will post earnings per share of ($1.33) for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Aptevo Therapeutics’ earnings. The highest EPS estimate is ($1.11) and the lowest is ($1.55). Aptevo Therapeutics posted earnings of ($1.78) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 25.3%. The firm is expected to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Aptevo Therapeutics will report full year earnings of ($6.24) per share for the current financial year. For the next fiscal year, analysts expect that the business will report earnings of ($5.47) per share, with EPS estimates ranging from ($6.16) to ($4.78). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Aptevo Therapeutics.

Aptevo Therapeutics (NASDAQ:APVOGet Rating) last released its quarterly earnings results on Thursday, May 12th. The biotechnology company reported ($1.55) EPS for the quarter, missing analysts’ consensus estimates of ($1.15) by ($0.40). Aptevo Therapeutics had a negative net margin of 222.55% and a negative return on equity of 717.67%.

A number of equities analysts recently weighed in on the company. StockNews.com cut Aptevo Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, May 13th. Zacks Investment Research cut shares of Aptevo Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Piper Sandler dropped their price target on Aptevo Therapeutics from $69.00 to $20.00 in a research report on Friday, May 13th.

Hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP acquired a new position in Aptevo Therapeutics in the first quarter valued at approximately $33,000. Bank of New York Mellon Corp acquired a new position in shares of Aptevo Therapeutics in the 1st quarter valued at $152,000. Morgan Stanley grew its holdings in shares of Aptevo Therapeutics by 31.9% during the 3rd quarter. Morgan Stanley now owns 11,028 shares of the biotechnology company’s stock worth $170,000 after purchasing an additional 2,664 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Aptevo Therapeutics during the 3rd quarter worth about $211,000. Finally, Franklin Resources Inc. purchased a new stake in shares of Aptevo Therapeutics in the 3rd quarter valued at approximately $242,000. 33.64% of the stock is currently owned by hedge funds and other institutional investors.

APVO traded up $0.17 during midday trading on Thursday, hitting $4.85. 23 shares of the company were exchanged, compared to its average volume of 45,083. The company’s 50 day simple moving average is $4.94 and its 200 day simple moving average is $6.96. 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 has a 1-year low of $3.45 and a 1-year high of $31.76.

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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