Aptevo Therapeutics (NASDAQ:APVO) Shares Set to Reverse Split on Tuesday, December 30th

Aptevo Therapeutics Inc. (NASDAQ:APVO) 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 closing bell on Monday, December 29th.

Aptevo Therapeutics Price Performance

Shares of NASDAQ APVO traded down $0.32 during mid-day trading on Friday, hitting $0.61. 14,545,851 shares of the company were exchanged, compared to its average volume of 1,063,643. The stock has a 50 day simple moving average of $1.30 and a 200-day simple moving average of $2.02. Aptevo Therapeutics has a 1-year low of $0.50 and a 1-year high of $109.80.

Aptevo Therapeutics (NASDAQ:APVO) last posted its quarterly earnings data on Thursday, November 6th. The biotechnology company reported ($2.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.09) by ($0.14). Sell-side analysts forecast that Aptevo Therapeutics will post -15.84 EPS for the current year.

Analysts Set New Price Targets

APVO has been the topic of a number of analyst reports. Roth Capital raised Aptevo Therapeutics to a “strong-buy” rating in a report on Tuesday, September 16th. Zacks Research upgraded Aptevo Therapeutics to a “hold” rating in a research note on Thursday, September 18th. Finally, Weiss Ratings reaffirmed a “sell (e)” rating on shares of Aptevo Therapeutics in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold”.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Aptevo Therapeutics stock. Birchview Capital LP purchased a new position in shares of Aptevo Therapeutics Inc. (NASDAQ:APVO) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 as of its most recent SEC filing. 8.06% of the stock is currently owned by hedge funds and other institutional investors.

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.