Aptevo Therapeutics (NASDAQ:APVO) Posts Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Aptevo Therapeutics (NASDAQ:APVO) announced its quarterly earnings results on Thursday. The biotechnology company reported ($0.48) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.09, reports.

Aptevo Therapeutics Price Performance

APVO opened at $0.28 on Friday. The business has a fifty day simple moving average of $0.24 and a 200-day simple moving average of $0.46. Aptevo Therapeutics has a fifty-two week low of $0.14 and a fifty-two week high of $10.90.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Roth Mkm cut their price target on Aptevo Therapeutics from $15.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. StockNews.com started coverage on Aptevo Therapeutics in a research note on Thursday. They set a “sell” rating on the stock.

Hedge Funds Weigh In On Aptevo Therapeutics

An institutional investor recently bought a new position in Aptevo Therapeutics stock. Armistice Capital LLC acquired a new stake in Aptevo Therapeutics Inc. (NASDAQ:APVO) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 749,234 shares of the biotechnology company’s stock, valued at approximately $229,000. Armistice Capital LLC owned approximately 18.36% of Aptevo Therapeutics as of its most recent filing with the SEC. Hedge funds and other institutional investors own 8.06% of the company’s stock.

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.