Aptevo Therapeutics (NASDAQ:APVO) Share Price Crosses Below 50 Day Moving Average – Here’s Why

Aptevo Therapeutics Inc. (NASDAQ:APVO) crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $4.88 and traded as low as $4.67. Aptevo Therapeutics shares last traded at $4.67, with a volume of 16,520 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on APVO shares. Wall Street Zen upgraded shares of Aptevo Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, March 29th. Weiss Ratings raised shares of Aptevo Therapeutics from a “sell (e)” rating to a “sell (e+)” rating in a research report on Monday. One 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

Aptevo Therapeutics Trading Down 2.7%

The firm has a market capitalization of $5.84 million, a PE ratio of -0.02 and a beta of 1.68. The business has a 50-day moving average of $4.88 and a 200 day moving average of $8.06.

Aptevo Therapeutics (NASDAQ:APVO) last issued its quarterly earnings data on Wednesday, May 13th. The biotechnology company reported ($6.41) earnings per share for the quarter, meeting the consensus estimate of ($6.41). On average, sell-side analysts expect that Aptevo Therapeutics Inc. will post -24.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Aptevo Therapeutics stock. Virtu Financial LLC purchased a new position in shares of Aptevo Therapeutics Inc. (NASDAQ:APVO) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 38,282 shares of the biotechnology company’s stock, valued at approximately $56,000. Virtu Financial LLC owned about 1.16% of Aptevo Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC). 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.