Aptevo Therapeutics (NASDAQ:APVO) Posts Earnings Results, Misses Expectations By $0.81 EPS

Aptevo Therapeutics (NASDAQ:APVO – Get Free Report) released its quarterly earnings results on Wednesday. The biotechnology company reported ($6.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($5.60) by ($0.81), Zacks reports.

Aptevo Therapeutics Stock Down 1.4%

Aptevo Therapeutics stock traded down $0.07 during trading hours on Wednesday, hitting $4.76. The company had a trading volume of 17,850 shares, compared to its average volume of 43,183. The firm’s fifty day moving average is $4.88 and its 200-day moving average is $11.73. Aptevo Therapeutics has a fifty-two week low of $3.80 and a fifty-two week high of $258.01.

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Institutional Trading of Aptevo Therapeutics

A hedge fund recently bought a new stake in Aptevo Therapeutics stock. Virtu Financial LLC bought a new position in Aptevo Therapeutics Inc. (NASDAQ:APVO – Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 38,282 shares of the biotechnology company’s stock, valued at approximately $56,000. Virtu Financial LLC owned approximately 1.16% of Aptevo Therapeutics as of its most recent SEC filing. Hedge funds and other institutional investors own 8.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on APVO shares. Weiss Ratings upgraded shares of Aptevo Therapeutics from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, May 8th. Wall Street Zen upgraded shares of Aptevo Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, March 29th. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Aptevo Therapeutics currently has an average rating of “Hold”.

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About Aptevo Therapeutics

(Get Free Report)

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.

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