Aptevo Therapeutics Inc (NASDAQ:APVO) Short Interest Down 5.5% in July

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Aptevo Therapeutics Inc (NASDAQ:APVO) was the target of a large decline in short interest during the month of July. As of July 31st, there was short interest totalling 233,400 shares, a decline of 5.5% from the June 30th total of 246,900 shares. Based on an average trading volume of 585,200 shares, the days-to-cover ratio is presently 0.4 days. Currently, 1.3% of the shares of the stock are short sold.

Shares of APVO stock opened at $0.77 on Friday. Aptevo Therapeutics has a twelve month low of $0.49 and a twelve month high of $5.80. The stock has a market capitalization of $33.69 million, a price-to-earnings ratio of -0.32 and a beta of 2.39. The stock has a fifty day simple moving average of $0.87 and a two-hundred day simple moving average of $0.98. The company has a current ratio of 2.63, a quick ratio of 2.91 and a debt-to-equity ratio of 0.89.

Aptevo Therapeutics (NASDAQ:APVO) last issued its earnings results on Friday, August 9th. The biotechnology company reported ($0.30) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.33) by $0.03. Aptevo Therapeutics had a negative return on equity of 148.97% and a negative net margin of 195.98%. The business had revenue of $7.36 million during the quarter, compared to analysts’ expectations of $6.95 million. Research analysts predict that Aptevo Therapeutics will post -1.42 EPS for the current fiscal year.

In related news, Director Fuad El-Hibri bought 100,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were purchased at an average price of $0.76 per share, with a total value of $76,000.00. Following the transaction, the director now owns 1,124,536 shares in the company, valued at approximately $854,647.36. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Marvin L. White bought 50,000 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were bought at an average cost of $0.88 per share, for a total transaction of $44,000.00. Following the transaction, the chief executive officer now owns 293,603 shares in the company, valued at approximately $258,370.64. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 416,380 shares of company stock worth $340,044. Corporate insiders own 11.74% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Stonepine Capital Management LLC lifted its stake in shares of Aptevo Therapeutics by 0.7% during the 2nd quarter. Stonepine Capital Management LLC now owns 3,922,891 shares of the biotechnology company’s stock worth $3,478,000 after purchasing an additional 28,672 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Aptevo Therapeutics by 6.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 2,350,000 shares of the biotechnology company’s stock worth $2,083,000 after purchasing an additional 150,000 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Aptevo Therapeutics by 32.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,644,856 shares of the biotechnology company’s stock worth $1,458,000 after purchasing an additional 406,930 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Aptevo Therapeutics by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,442,049 shares of the biotechnology company’s stock worth $1,831,000 after purchasing an additional 16,482 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in shares of Aptevo Therapeutics by 312.8% during the 2nd quarter. Acadian Asset Management LLC now owns 632,507 shares of the biotechnology company’s stock worth $560,000 after purchasing an additional 479,278 shares during the last quarter. Hedge funds and other institutional investors own 36.37% of the company’s stock.

Several equities analysts have recently weighed in on APVO shares. Roth Capital reissued a “buy” rating on shares of Aptevo Therapeutics in a research report on Thursday, May 23rd. ValuEngine raised Aptevo Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research downgraded Aptevo Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $7.81.

Aptevo Therapeutics Company Profile

Aptevo Therapeutics Inc, a clinical-stage biotechnology company, engages in the discovery, development, commercialization, and sale of novel oncology and hematology therapeutics in the United States. Its marketed product includes IXINITY, a coagulation factor IX therapeutic indicated in adults and children 12 years of age and older with hemophilia B for control and prevention of bleeding episodes, and management of bleeding during operations.

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