Aptevo Therapeutics (NASDAQ:APVO) Cut to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Aptevo Therapeutics (NASDAQ:APVO) from a buy rating to a hold rating in a research note published on Wednesday morning, 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. “

Other research analysts have also issued reports about the stock. UBS Group lowered shares of Aptevo Therapeutics from a buy rating to a neutral rating in a research note on Wednesday, December 22nd. Roth Capital reduced their price objective on shares of Aptevo Therapeutics from $50.00 to $36.00 and set a buy rating for the company in a research note on Monday, November 15th.

Shares of Aptevo Therapeutics stock opened at $7.22 on Wednesday. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.55. The company has a 50-day moving average of $8.99 and a 200 day moving average of $14.57. Aptevo Therapeutics has a 1 year low of $6.38 and a 1 year high of $43.21.

Aptevo Therapeutics (NASDAQ:APVO) last issued its quarterly earnings results on Friday, November 12th. The biotechnology company reported ($1.45) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.48) by $0.03. The company had revenue of $3.10 million during the quarter, compared to analyst estimates of $3.65 million. Aptevo Therapeutics had a negative net margin of 265.80% and a negative return on equity of 248.45%. Equities research analysts forecast that Aptevo Therapeutics will post -5.95 EPS for the current fiscal year.

In other news, major shareholder Kevin C. Tang sold 369,533 shares of the firm’s stock in a transaction dated Thursday, November 18th. The shares were sold at an average price of $8.34, for a total transaction of $3,081,905.22. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Kevin C. Tang sold 255,331 shares of the firm’s stock in a transaction dated Monday, November 22nd. The shares were sold at an average price of $7.03, for a total transaction of $1,794,976.93. The disclosure for this sale can be found here. 10.88% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. QS Investors LLC boosted its holdings in shares of Aptevo Therapeutics by 37.3% during the 2nd quarter. QS Investors LLC now owns 15,650 shares of the biotechnology company’s stock valued at $352,000 after acquiring an additional 4,250 shares during the last quarter. Boothbay Fund Management LLC boosted its holdings in shares of Aptevo Therapeutics by 4.9% during the 2nd quarter. Boothbay Fund Management LLC now owns 15,350 shares of the biotechnology company’s stock valued at $344,000 after acquiring an additional 720 shares during the last quarter. Moors & Cabot Inc. purchased a new stake in shares of Aptevo Therapeutics during the 3rd quarter valued at about $3,729,000. Kennedy Capital Management Inc. purchased a new stake in shares of Aptevo Therapeutics during the 2nd quarter valued at about $4,217,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Aptevo Therapeutics by 8.8% during the 2nd quarter. Geode Capital Management LLC now owns 38,917 shares of the biotechnology company’s stock valued at $872,000 after acquiring an additional 3,155 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Aptevo Therapeutics Company Profile

Aptevo Therapeutics, Inc is a clinical-stage biotechnology company, which focuses on developing novel immunotherapies for the treatment of cancer. Its pipeline APVO436, ALG.APV-527 and APVO603 were developed based on the ADAPTIR modular protein platform technology and APVO442 was developed based on the new ADAPTIR-FLE platform technology.

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