Aptevo Therapeutics (NASDAQ:APVO) Issues Quarterly Earnings Results, Beats Estimates By $0.70 EPS

Aptevo Therapeutics (NASDAQ:APVO) announced its quarterly earnings results on Friday. The biotechnology company reported ($5.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($6.01) by $0.70, FiscalAI reports.

Aptevo Therapeutics Trading Down 13.5%

Shares of APVO traded down $0.46 on Friday, reaching $2.94. 79,260 shares of the company’s stock were exchanged, compared to its average volume of 96,721. The stock has a market capitalization of $4.47 million, a P/E ratio of -0.01 and a beta of 1.65. The business has a 50 day moving average price of $4.40 and a two-hundred day moving average price of $5.11. Aptevo Therapeutics has a 12 month low of $2.84 and a 12 month high of $48.78.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered shares of Aptevo Therapeutics from a “sell (e+)” rating to a “sell (e)” rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold”.

Institutional Trading of Aptevo Therapeutics

A hedge fund recently bought a new stake in Aptevo Therapeutics stock. Virtu Financial LLC bought a new stake in shares of Aptevo Therapeutics Inc. (NASDAQ:APVO) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 38,282 shares of the biotechnology company’s stock, valued at approximately $56,000. Virtu Financial LLC owned about 1.16% of Aptevo Therapeutics as of its most recent filing with the SEC. 8.06% of the stock is owned by institutional investors and hedge funds.

Aptevo Therapeutics Company Profile

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.