Aptevo Therapeutics (NASDAQ:APVO) Shares Down 7.1% – Here’s Why

Aptevo Therapeutics Inc. (NASDAQ:APVO) shares fell 7.1% on Tuesday . The stock traded as low as $4.38 and last traded at $4.42. 26,537 shares traded hands during trading, a decline of 73% from the average session volume of 96,504 shares. The stock had previously closed at $4.76.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on APVO shares. Weiss Ratings downgraded Aptevo Therapeutics from a “sell (e+)” rating to a “sell (e)” rating in a research note on Wednesday, July 1st. Wall Street Zen raised Aptevo Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, March 29th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Aptevo Therapeutics Trading Down 2.4%

The stock has a market capitalization of $5.43 million, a price-to-earnings ratio of -0.02 and a beta of 1.66. The stock has a 50-day moving average price of $4.67 and a 200 day moving average price of $5.68.

Aptevo Therapeutics (NASDAQ:APVO) last released its quarterly earnings results on Wednesday, May 13th. The biotechnology company reported ($6.41) earnings per share for the quarter, hitting analysts’ consensus estimates of ($6.41). Equities research analysts anticipate that Aptevo Therapeutics Inc. will post -23.35 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Aptevo Therapeutics stock. Virtu Financial LLC purchased a new position in Aptevo Therapeutics Inc. (NASDAQ:APVO) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 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 filing with the Securities and Exchange Commission. 8.06% of the stock is currently owned by hedge funds and other institutional investors.

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.