Aptevo Therapeutics Inc. (NASDAQ:APVO) Short Interest Up 324.5% in April

Aptevo Therapeutics Inc. (NASDAQ:APVO) was the recipient of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 145,600 shares, an increase of 324.5% from the March 31st total of 34,300 shares. Currently, 9.1% of the shares of the company are short sold. Based on an average daily trading volume, of 264,000 shares, the days-to-cover ratio is currently 0.6 days.

Aptevo Therapeutics Stock Performance

NASDAQ:APVO traded up $0.03 during midday trading on Friday, reaching $0.71. The stock had a trading volume of 172,519 shares, compared to its average volume of 569,581. Aptevo Therapeutics has a 12-month low of $0.67 and a 12-month high of $87.56. The firm has a fifty day simple moving average of $4.06 and a two-hundred day simple moving average of $7.28.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Aptevo Therapeutics stock. Sabby Management LLC bought a new position in shares of Aptevo Therapeutics Inc. (NASDAQ:APVO) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,334,169 shares of the biotechnology company’s stock, valued at approximately $440,000. Aptevo Therapeutics makes up 0.3% of Sabby Management LLC’s holdings, making the stock its 11th largest position. Sabby Management LLC owned about 11.58% of Aptevo Therapeutics at the end of the most recent reporting period. Institutional investors and hedge funds own 8.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on Aptevo Therapeutics in a research report on Thursday, April 18th. They set a “sell” rating for the company.

About Aptevo Therapeutics

Aptevo Therapeutics Inc, a clinical-stage research and development biotechnology company, focuses on developing immunotherapeutic candidates for the treatment of various forms of cancer in the United States. It develops its products using ADAPTIR and ADAPTIR-FLEX platforms to generate monospecific, bispecific, and multi-specific antibody candidates capable of enhancing the human immune system against cancer cells.