Aptevo Therapeutics Inc. (NASDAQ:APVO) Sees Significant Drop in Short Interest

Aptevo Therapeutics Inc. (NASDAQ:APVO) was the recipient of a large decrease in short interest during the month of January. As of January 30th, there was short interest totaling 152,186 shares, a decrease of 30.8% from the January 15th total of 219,920 shares. Based on an average daily volume of 72,754 shares, the short-interest ratio is currently 2.1 days. Approximately 15.3% of the shares of the company are short sold. Approximately 15.3% of the shares of the company are short sold. Based on an average daily volume of 72,754 shares, the short-interest ratio is currently 2.1 days.

Hedge Funds Weigh In On Aptevo Therapeutics

An institutional investor recently bought a new position in Aptevo Therapeutics stock. Birchview Capital LP bought 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 fund bought 10,000 shares of the biotechnology company’s stock, valued at approximately $30,000. Birchview Capital LP owned 1.32% of Aptevo Therapeutics as of its most recent SEC filing. Hedge funds and other institutional investors own 8.06% of the company’s stock.

Aptevo Therapeutics Stock Up 1.8%

Shares of Aptevo Therapeutics stock opened at $6.71 on Monday. The business has a fifty day simple moving average of $11.55 and a 200-day simple moving average of $23.11. Aptevo Therapeutics has a fifty-two week low of $5.94 and a fifty-two week high of $1,439.96. The firm has a market cap of $6.71 million, a price-to-earnings ratio of 0.00 and a beta of 1.49.

Analysts Set New Price Targets

Several analysts recently commented on the company. Weiss Ratings restated a “sell (e)” rating on shares of Aptevo Therapeutics in a research report on Monday, December 29th. Wall Street Zen cut Aptevo Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Aptevo Therapeutics currently has a consensus rating of “Hold”.

Aptevo Therapeutics Company Profile

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.