Armistice Capital LLC Makes New $229,000 Investment in Aptevo Therapeutics Inc. (NASDAQ:APVO)

Armistice Capital LLC purchased a new position in shares of Aptevo Therapeutics Inc. (NASDAQ:APVO) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 749,234 shares of the biotechnology company’s stock, valued at approximately $229,000. Armistice Capital LLC owned approximately 18.36% of Aptevo Therapeutics at the end of the most recent quarter.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on APVO shares. StockNews.com began coverage on Aptevo Therapeutics in a research note on Friday. They set a “sell” rating on the stock. Roth Mkm dropped their price target on Aptevo Therapeutics from $15.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday.

Aptevo Therapeutics Stock Performance

Shares of Aptevo Therapeutics stock opened at $0.18 on Friday. The firm’s 50 day simple moving average is $0.36 and its two-hundred day simple moving average is $1.14. Aptevo Therapeutics Inc. has a 12-month low of $0.14 and a 12-month high of $21.56.

Aptevo Therapeutics (NASDAQ:APVO) last released its earnings results on Thursday, August 8th. The biotechnology company reported ($1.67) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.93) by $0.26. Sell-side analysts anticipate that Aptevo Therapeutics Inc. will post -4.3 earnings per share for the current year.

About Aptevo Therapeutics

Aptevo Therapeutics Inc, a clinical-stage research and development biotechnology company, focuses on developing immunotherapeutic candidates for the treatment of various forms of cancer in the United States. It develops its products using ADAPTIR and ADAPTIR-FLEX platforms to generate monospecific, bispecific, and multi-specific antibody candidates capable of enhancing the human immune system against cancer cells.