Short Interest in Aptevo Therapeutics Inc. (NASDAQ:APVO) Drops By 86.5%

Aptevo Therapeutics Inc. (NASDAQ:APVO) was the recipient of a large decline in short interest in the month of December. As of December 31st, there was short interest totaling 139,996 shares, a decline of 86.5% from the December 15th total of 1,033,317 shares. Approximately 15.0% of the company’s shares are sold short. Based on an average daily trading volume, of 135,792 shares, the short-interest ratio is presently 1.0 days. Based on an average daily trading volume, of 135,792 shares, the short-interest ratio is presently 1.0 days. Approximately 15.0% of the company’s shares are sold short.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Aptevo Therapeutics stock. Virtu Financial LLC bought a new position in Aptevo Therapeutics Inc. (NASDAQ:APVO) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 38,282 shares of the biotechnology company’s stock, valued at approximately $56,000. Virtu Financial LLC owned 1.16% of Aptevo Therapeutics at the end of the most recent reporting period. 8.06% of the stock is currently owned by institutional investors.

Aptevo Therapeutics Stock Performance

Shares of NASDAQ APVO opened at $8.88 on Wednesday. The stock has a market cap of $8.35 million, a price-to-earnings ratio of -0.01 and a beta of 1.47. The business has a 50 day simple moving average of $19.05 and a 200 day simple moving average of $30.64. Aptevo Therapeutics has a 52 week low of $7.66 and a 52 week high of $1,807.20.

Aptevo Therapeutics (NASDAQ:APVO) last released its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($40.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($37.62) by ($2.52). On average, analysts predict that Aptevo Therapeutics will post -15.84 EPS for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on APVO. Roth Capital upgraded shares of Aptevo Therapeutics to a “strong-buy” rating in a research report on Tuesday, September 16th. Zacks Research upgraded Aptevo Therapeutics to a “hold” rating in a report on Thursday, September 18th. Finally, Weiss Ratings reissued a “sell (e)” rating on shares of Aptevo Therapeutics in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold”.

About Aptevo Therapeutics

Aptevo Therapeutics, Inc is a clinical-stage biopharmaceutical company headquartered in Seattle, Washington, focused on the discovery and development of novel immunotherapies for oncology and autoimmune diseases. Founded in 2012 as a spin-off from Emergent BioSolutions, the company builds on expertise in protein engineering and translational research to create targeted biologics that engage the body’s immune system.

The company’s core technologies include the ADAPTIR platform, which enables the design of bispecific and multispecific protein scaffolds with customizable binding domains, and the KNOCKOUT platform, which incorporates non-natural amino acids to enhance therapeutic properties such as stability and half-life.