Aptevo Therapeutics Inc. (NASDAQ:APVO) Short Interest Update

Aptevo Therapeutics Inc. (NASDAQ:APVO) saw a significant growth in short interest during the month of December. As of December 15th, there was short interest totaling 1,033,317 shares, a growth of 164.3% from the November 30th total of 391,017 shares. Based on an average daily volume of 1,417,553 shares, the days-to-cover ratio is currently 0.7 days. Currently, 6.1% of the shares of the company are short sold. Currently, 6.1% of the shares of the company are short sold. Based on an average daily volume of 1,417,553 shares, the days-to-cover ratio is currently 0.7 days.

Hedge Funds Weigh In On Aptevo Therapeutics

A hedge fund recently bought a new stake in Aptevo Therapeutics stock. Birchview Capital LP purchased a new position in Aptevo Therapeutics Inc. (NASDAQ:APVO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 10,000 shares of the biotechnology company’s stock, valued at approximately $30,000. Birchview Capital LP owned about 1.32% of Aptevo Therapeutics at the end of the most recent reporting period. 8.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Zacks Research upgraded Aptevo Therapeutics to a “hold” rating in a research report on Thursday, September 18th. Roth Capital upgraded shares of Aptevo Therapeutics to a “strong-buy” rating in a research note on Tuesday, September 16th. Finally, Weiss Ratings reissued a “sell (e)” rating on shares of Aptevo Therapeutics in a report on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Aptevo Therapeutics presently has a consensus rating of “Hold”.

Aptevo Therapeutics Stock Down 34.7%

Aptevo Therapeutics stock traded down $0.32 during mid-day trading on Friday, reaching $0.61. 14,545,851 shares of the company’s stock traded hands, compared to its average volume of 1,063,643. Aptevo Therapeutics has a 12-month low of $0.50 and a 12-month high of $109.80. The stock has a 50 day moving average of $1.30 and a two-hundred day moving average of $2.00. The company has a market cap of $10.23 million, a price-to-earnings ratio of -0.01 and a beta of 1.41.

Aptevo Therapeutics shares are going to reverse split on Tuesday, December 30th. The 1-18 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Monday, December 29th.

Aptevo Therapeutics (NASDAQ:APVO) last issued its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($2.23) earnings per share for the quarter, missing the consensus estimate of ($2.09) by ($0.14). As a group, sell-side analysts forecast that Aptevo Therapeutics will post -15.84 earnings per share for the current year.

About Aptevo Therapeutics

Aptevo Therapeutics, Inc is a clinical-stage biopharmaceutical company headquartered in Seattle, Washington, focused on the discovery and development of novel immunotherapies for oncology and autoimmune diseases. Founded in 2012 as a spin-off from Emergent BioSolutions, the company builds on expertise in protein engineering and translational research to create targeted biologics that engage the body’s immune system.

The company’s core technologies include the ADAPTIR platform, which enables the design of bispecific and multispecific protein scaffolds with customizable binding domains, and the KNOCKOUT platform, which incorporates non-natural amino acids to enhance therapeutic properties such as stability and half-life.