Zacks Investment Research lowered shares of Aptevo Therapeutics (NASDAQ:APVO) from a buy rating to a hold rating in a research note released on Friday, Zacks.com reports.
According to Zacks, “Aptevo Therapeutics Inc. is a biotechnology company which focused on developing oncology and hematology therapeutics. The company’s platform consists of ADAPTIR(TM). Its product pipeline includes WinRho (R) SDF, HepaGam B (R), VARIZIG(R) and IXINITY (R) which are in pre-clinical stage. Aptevo Therapeutics Inc. is based in Seattle, Washington. “
A number of other equities research analysts have also issued reports on the company. Roth Capital reaffirmed 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. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $7.81.
APVO stock opened at $0.77 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.63 and a quick ratio of 2.91. The firm has a market capitalization of $33.69 million, a P/E ratio of -0.32 and a beta of 2.39. The business’s 50-day moving average is $0.87 and its two-hundred day moving average is $0.98. Aptevo Therapeutics has a 1 year low of $0.49 and a 1 year high of $5.80.
Aptevo Therapeutics (NASDAQ:APVO) last posted its quarterly earnings results on Friday, August 9th. The biotechnology company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.03. The company had revenue of $7.36 million for the quarter, compared to analyst estimates of $6.95 million. Aptevo Therapeutics had a negative return on equity of 148.97% and a negative net margin of 195.98%. On average, analysts expect that Aptevo Therapeutics will post -1.42 EPS for the current year.
In other Aptevo Therapeutics news, Director Fuad El-Hibri acquired 100,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $0.76 per share, for a total transaction of $76,000.00. Following the acquisition, the director now owns 1,124,536 shares in the company, valued at approximately $854,647.36. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Zsolt Harsanyi acquired 50,000 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was acquired at an average price of $0.78 per share, for a total transaction of $39,000.00. Following the acquisition, the director now owns 50,000 shares in the company, valued at approximately $39,000. The disclosure for this purchase can be found here. Insiders acquired a total of 416,380 shares of company stock worth $340,044 in the last ninety days. 11.74% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in APVO. Stonepine Capital Management LLC grew its position in shares of Aptevo Therapeutics by 0.7% in the second quarter. Stonepine Capital Management LLC now owns 3,922,891 shares of the biotechnology company’s stock valued at $3,478,000 after purchasing an additional 28,672 shares during the period. Point72 Asset Management L.P. grew its position in Aptevo Therapeutics by 6.8% during the second quarter. Point72 Asset Management L.P. now owns 2,350,000 shares of the biotechnology company’s stock valued at $2,083,000 after acquiring an additional 150,000 shares during the period. Renaissance Technologies LLC grew its position in Aptevo Therapeutics by 32.9% during the second quarter. Renaissance Technologies LLC now owns 1,644,856 shares of the biotechnology company’s stock valued at $1,458,000 after acquiring an additional 406,930 shares during the period. Dimensional Fund Advisors LP grew its position in Aptevo Therapeutics by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,442,049 shares of the biotechnology company’s stock valued at $1,831,000 after acquiring an additional 16,482 shares during the period. Finally, Acadian Asset Management LLC grew its position in Aptevo Therapeutics by 312.8% during the second quarter. Acadian Asset Management LLC now owns 632,507 shares of the biotechnology company’s stock valued at $560,000 after acquiring an additional 479,278 shares during the period. Institutional investors and hedge funds own 36.37% of the company’s stock.
About Aptevo Therapeutics
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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