ValuEngine Upgrades Aptevo Therapeutics Inc. (APVO) to Buy

Aptevo Therapeutics Inc. (NASDAQ:APVO) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

Separately, Piper Jaffray Companies restated an “overweight” rating and issued a $6.00 price target on shares of Aptevo Therapeutics in a research report on Thursday, October 5th.

Aptevo Therapeutics (NASDAQ APVO) opened at 2.43 on Thursday. Aptevo Therapeutics has a 12-month low of $1.15 and a 12-month high of $3.85. The firm’s 50-day moving average price is $2.19 and its 200 day moving average price is $2.19. The stock’s market cap is $52.05 million.

Aptevo Therapeutics (NASDAQ:APVO) last posted its quarterly earnings results on Thursday, August 10th. The biotechnology company reported ($0.53) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.08. The business had revenue of $10.76 million during the quarter. Aptevo Therapeutics had a negative return on equity of 64.80% and a negative net margin of 296.64%. Analysts anticipate that Aptevo Therapeutics will post $0.59 EPS for the current year.

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Hedge funds have recently bought and sold shares of the company. Spark Investment Management LLC grew its position in shares of Aptevo Therapeutics by 167.4% in the second quarter. Spark Investment Management LLC now owns 61,500 shares of the biotechnology company’s stock valued at $127,000 after purchasing an additional 38,500 shares in the last quarter. Legal & General Group Plc grew its position in shares of Aptevo Therapeutics by 11,751.3% in the second quarter. Legal & General Group Plc now owns 393,701 shares of the biotechnology company’s stock valued at $815,000 after purchasing an additional 390,379 shares in the last quarter. Precept Management LLC purchased a new stake in shares of Aptevo Therapeutics in the second quarter valued at approximately $1,210,000. Finally, Dimensional Fund Advisors LP grew its position in shares of Aptevo Therapeutics by 8.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,056,729 shares of the biotechnology company’s stock valued at $2,187,000 after purchasing an additional 78,109 shares in the last quarter. Institutional investors and hedge funds own 39.16% of the company’s stock.

About Aptevo Therapeutics

Aptevo Therapeutics Inc is a biotechnology company. The Company is focused on oncology and hematology therapeutics. The Company is engaged in the discovery, development, commercialization and sale of oncology and hematology therapeutics. The Company’s technology is the ADAPTIR (modular protein technology) platform.

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