Aptevo Therapeutics (NASDAQ:APVO) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Aptevo Therapeutics (NASDAQ:APVO) from a buy rating to a hold rating in a research report released on Wednesday, Zacks.com reports.

According to Zacks, “Aptevo Therapeutics Inc. is a biotechnology company which focused on developing oncology and hematology therapeutics. The company’s platform consists of ADAPTIR(TM). Its product pipeline includes WinRho (R) SDF, HepaGam B (R), VARIZIG(R) and IXINITY (R) which are in pre-clinical stage. Aptevo Therapeutics Inc. is based in Seattle, Washington. “

A number of other analysts have also issued reports on the stock. UBS Group lowered shares of Aptevo Therapeutics from a buy rating to a neutral rating in a research note on Wednesday, December 22nd. Roth Capital lowered their target price on shares of Aptevo Therapeutics from $50.00 to $36.00 and set a buy rating for the company in a research note on Monday, November 15th.

Shares of APVO opened at $7.22 on Wednesday. Aptevo Therapeutics has a 12-month low of $6.38 and a 12-month high of $43.21. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.82 and a quick ratio of 1.82. The firm has a fifty day moving average price of $8.99 and a 200-day moving average price of $14.57.

Aptevo Therapeutics (NASDAQ:APVO) last issued its earnings results on Friday, November 12th. The biotechnology company reported ($1.45) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.48) by $0.03. The firm had revenue of $3.10 million during the quarter, compared to analyst estimates of $3.65 million. Aptevo Therapeutics had a negative net margin of 265.80% and a negative return on equity of 248.45%. On average, sell-side analysts anticipate that Aptevo Therapeutics will post -5.95 earnings per share for the current fiscal year.

In related news, major shareholder Kevin C. Tang sold 255,331 shares of the company’s stock in a transaction dated Monday, November 22nd. The shares were sold at an average price of $7.03, for a total value of $1,794,976.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Kevin C. Tang sold 369,533 shares of the company’s stock in a transaction dated Thursday, November 18th. The stock was sold at an average price of $8.34, for a total transaction of $3,081,905.22. The disclosure for this sale can be found here. 10.88% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in APVO. Marshall Wace LLP bought a new position in Aptevo Therapeutics in the first quarter worth about $33,000. Vanguard Group Inc. raised its holdings in Aptevo Therapeutics by 2.9% in the second quarter. Vanguard Group Inc. now owns 134,760 shares of the biotechnology company’s stock worth $3,022,000 after purchasing an additional 3,830 shares in the last quarter. Geode Capital Management LLC raised its holdings in Aptevo Therapeutics by 8.8% in the second quarter. Geode Capital Management LLC now owns 38,917 shares of the biotechnology company’s stock worth $872,000 after purchasing an additional 3,155 shares in the last quarter. QS Investors LLC raised its holdings in Aptevo Therapeutics by 37.3% in the second quarter. QS Investors LLC now owns 15,650 shares of the biotechnology company’s stock worth $352,000 after purchasing an additional 4,250 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Aptevo Therapeutics by 170.7% in the second quarter. Northern Trust Corp now owns 22,652 shares of the biotechnology company’s stock worth $508,000 after purchasing an additional 14,285 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Aptevo Therapeutics Company Profile

Aptevo Therapeutics, Inc is a clinical-stage biotechnology company, which focuses on developing novel immunotherapies for the treatment of cancer. Its pipeline APVO436, ALG.APV-527 and APVO603 were developed based on the ADAPTIR modular protein platform technology and APVO442 was developed based on the new ADAPTIR-FLE platform technology.

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