Aptevo Therapeutics (NASDAQ:APVO) Announces Quarterly Earnings Results

Aptevo Therapeutics (NASDAQ:APVO) issued its quarterly earnings data on Thursday. The biotechnology company reported $118.23 earnings per share (EPS) for the quarter, topping the consensus estimate of ($8.10) by $126.33, FiscalAI reports.

Aptevo Therapeutics Stock Performance

Aptevo Therapeutics stock traded up $0.08 during midday trading on Thursday, reaching $4.51. The company’s stock had a trading volume of 45,630 shares, compared to its average volume of 177,411. Aptevo Therapeutics has a fifty-two week low of $3.95 and a fifty-two week high of $1,299.60. The stock’s 50 day simple moving average is $6.72 and its 200 day simple moving average is $17.25. The firm has a market capitalization of $4.51 million, a PE ratio of 0.00 and a beta of 1.44.

Institutional Trading of Aptevo Therapeutics

A hedge fund recently bought a new stake in Aptevo Therapeutics stock. Virtu Financial LLC acquired a new position in Aptevo Therapeutics Inc. (NASDAQ:APVO) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 38,282 shares of the biotechnology company’s stock, valued at approximately $56,000. Virtu Financial LLC owned approximately 1.16% of Aptevo Therapeutics as of its most recent SEC filing. 8.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Aptevo Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Weiss Ratings reaffirmed a “sell (e)” rating on shares of Aptevo Therapeutics in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Aptevo Therapeutics 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.