Aptevo Therapeutics (NASDAQ:APVO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, Zacks.com reports. The brokerage currently has a $10.00 price target on the biotechnology company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 19.76% from the company’s previous close.
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. “
Other analysts have also recently issued research reports about the stock. ValuEngine raised shares of Aptevo Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Friday, May 1st. Piper Sandler cut their price target on shares of Aptevo Therapeutics from $24.00 to $18.50 in a research note on Friday, May 15th. Finally, Roth Capital reissued a “buy” rating on shares of Aptevo Therapeutics in a research report on Wednesday, March 4th.
APVO stock traded down $0.92 during mid-day trading on Tuesday, reaching $8.35. The company had a trading volume of 335,867 shares, compared to its average volume of 354,288. The firm has a fifty day simple moving average of $6.14 and a 200 day simple moving average of $2.69. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.12 and a current ratio of 2.12. The company has a market capitalization of $26.51 million, a price-to-earnings ratio of -0.55 and a beta of 2.71. Aptevo Therapeutics has a fifty-two week low of $2.94 and a fifty-two week high of $14.28.
Aptevo Therapeutics (NASDAQ:APVO) last posted its quarterly earnings results on Wednesday, May 13th. The biotechnology company reported ($2.84) EPS for the quarter, missing the consensus estimate of ($2.35) by ($0.49). Aptevo Therapeutics had a negative return on equity of 224.05% and a negative net margin of 102.54%. As a group, analysts predict that Aptevo Therapeutics will post -9.51 earnings per share for the current year.
Several institutional investors have recently modified their holdings of the company. Marshall Wace LLP acquired a new stake in shares of Aptevo Therapeutics in the 1st quarter valued at approximately $33,000. UBS Group AG raised its position in Aptevo Therapeutics by 27.3% in the fourth quarter. UBS Group AG now owns 175,092 shares of the biotechnology company’s stock worth $115,000 after acquiring an additional 37,554 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Aptevo Therapeutics by 9.8% in the fourth quarter. Renaissance Technologies LLC now owns 2,379,859 shares of the biotechnology company’s stock valued at $1,558,000 after acquiring an additional 212,524 shares during the period. Institutional investors and hedge funds own 15.78% of the company’s stock.
Aptevo Therapeutics Company Profile
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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