Aptevo Therapeutics (NASDAQ:APVO) Stock Price Passes Below Fifty Day Moving Average – Here’s What Happened

Shares of Aptevo Therapeutics Inc. (NASDAQ:APVO) crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $4.49 and traded as low as $4.02. Aptevo Therapeutics shares last traded at $4.02, with a volume of 14,581 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Aptevo Therapeutics from a “sell (e)” rating to a “sell (e+)” rating in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Aptevo Therapeutics currently has an average rating of “Hold”.

Aptevo Therapeutics Trading Down 15.5%

The stock has a fifty day simple moving average of $4.47 and a 200-day simple moving average of $5.19. The stock has a market cap of $5.31 million, a price-to-earnings ratio of -0.02 and a beta of 1.65.

Aptevo Therapeutics (NASDAQ:APVO) last released its earnings results on Wednesday, May 13th. The biotechnology company reported ($6.41) EPS for the quarter, meeting the consensus estimate of ($6.41). Sell-side analysts forecast that Aptevo Therapeutics Inc. will post -23.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Aptevo Therapeutics

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

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.