Short Interest in Aptevo Therapeutics Inc. (APVO) Rises By 31.1%
Aptevo Therapeutics Inc. (NASDAQ:APVO) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 777,111 shares, a growth of 31.1% from the October 13th total of 592,595 shares. Based on an average daily volume of 304,800 shares, the short-interest ratio is currently 2.5 days. Approximately 4.5% of the company’s shares are short sold.
Shares of Aptevo Therapeutics (NASDAQ APVO) opened at $3.02 on Monday. Aptevo Therapeutics has a 1 year low of $1.15 and a 1 year high of $3.85. The company has a current ratio of 5.66, a quick ratio of 4.98 and a debt-to-equity ratio of 0.36.
Aptevo Therapeutics (NASDAQ:APVO) last announced its quarterly earnings results on Thursday, August 10th. The biotechnology company reported ($0.53) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.08. Aptevo Therapeutics had a net margin of 5.40% and a negative return on equity of 32.64%. The company had revenue of $10.76 million during the quarter. equities research analysts forecast that Aptevo Therapeutics will post 0.59 earnings per share for the current fiscal year.
Several analysts have commented on APVO shares. ValuEngine upgraded shares of Aptevo Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 6th. Piper Jaffray Companies reiterated an “overweight” rating and set a $6.00 target price on shares of Aptevo Therapeutics in a research report on Thursday, October 5th.
Several hedge funds have recently made changes to their positions in APVO. Precept Management LLC acquired a new position in Aptevo Therapeutics in the 2nd quarter worth $1,210,000. Dimensional Fund Advisors LP lifted its position in Aptevo Therapeutics by 8.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,056,729 shares of the biotechnology company’s stock worth $2,187,000 after buying an additional 78,109 shares in the last quarter. Legal & General Group Plc lifted its position in Aptevo Therapeutics by 11,751.3% during the 2nd quarter. Legal & General Group Plc now owns 393,701 shares of the biotechnology company’s stock worth $815,000 after buying an additional 390,379 shares in the last quarter. Finally, Spark Investment Management LLC lifted its position in Aptevo Therapeutics by 167.4% during the 2nd quarter. Spark Investment Management LLC now owns 61,500 shares of the biotechnology company’s stock worth $127,000 after buying an additional 38,500 shares in the last quarter. 39.19% of the stock is owned by institutional investors.
Aptevo Therapeutics Company Profile
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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