Aptevo Therapeutics (NASDAQ:APVO) Shares Down 5.5% – Here’s What Happened

Aptevo Therapeutics Inc. (NASDAQ:APVO)’s share price dropped 5.5% on Monday . The stock traded as low as $4.61 and last traded at $4.68. Approximately 78,302 shares changed hands during mid-day trading, an increase of 3% from the average daily volume of 75,708 shares. The stock had previously closed at $4.95.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen initiated coverage on shares of Aptevo Therapeutics in a research report on Sunday, May 18th. They issued a “sell” rating on the stock.

Aptevo Therapeutics Stock Down 5.5%

The firm’s 50-day moving average price is $12.25 and its two-hundred day moving average price is $511.86.

Aptevo Therapeutics (NASDAQ:APVO) last posted its quarterly earnings results on Thursday, May 15th. The biotechnology company reported ($87.80) EPS for the quarter, missing the consensus estimate of ($84.20) by ($3.60). As a group, research analysts predict that Aptevo Therapeutics Inc. will post -15.84 EPS for the current year.

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.