Aptevo Therapeutics (NASDAQ:APVO) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of Aptevo Therapeutics (NASDAQ:APVO) in a research report issued to clients and investors on Friday. The brokerage set a “hold” rating on the biotechnology company’s stock.

Separately, Alliance Global Partners initiated coverage on Aptevo Therapeutics in a research report on Monday, October 9th. They set a “buy” rating for the company.

Aptevo Therapeutics Trading Down 2.5 %

Shares of APVO opened at $0.23 on Friday. The stock has a 50 day moving average of $0.33 and a 200-day moving average of $0.95. Aptevo Therapeutics has a 52 week low of $0.21 and a 52 week high of $7.20.

Aptevo Therapeutics (NASDAQ:APVO) last released its quarterly earnings data on Thursday, August 10th. The biotechnology company reported ($1.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.11). Analysts expect that Aptevo Therapeutics will post -2.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of APVO. Bank of New York Mellon Corp bought a new stake in Aptevo Therapeutics during the 1st quarter valued at approximately $152,000. Vanguard Group Inc. boosted its stake in Aptevo Therapeutics by 7.3% during 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. Renaissance Technologies LLC boosted its stake in Aptevo Therapeutics by 18.7% during the 2nd quarter. Renaissance Technologies LLC now owns 69,886 shares of the biotechnology company’s stock valued at $250,000 after purchasing an additional 11,000 shares during the period. Virtu Financial LLC bought a new stake in Aptevo Therapeutics during the 2nd quarter valued at approximately $46,000. Finally, Citadel Advisors LLC bought a new stake in Aptevo Therapeutics during the 3rd quarter valued at approximately $51,000. Hedge funds and other institutional investors own 8.06% of the company’s stock.

Aptevo Therapeutics Company Profile

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. The company's lead clinical candidates are APVO436, a bispecific T-cell engaging antibody candidate that is in Phase 1b clinical trial for acute myelogenous leukemia and myelodysplastic syndromes; and.