Aptevo Therapeutics (NASDAQ:APVO) Releases Earnings Results, Misses Estimates By $0.81 EPS

Aptevo Therapeutics (NASDAQ:APVO) issued its quarterly earnings results on Wednesday. The biotechnology company reported ($6.41) EPS for the quarter, missing analysts’ consensus estimates of ($5.60) by ($0.81), Zacks reports.

Aptevo Therapeutics Price Performance

NASDAQ APVO traded down $0.01 during mid-day trading on Thursday, reaching $4.76. 17,919 shares of the stock were exchanged, compared to its average volume of 128,168. Aptevo Therapeutics has a one year low of $3.80 and a one year high of $258.01. The stock has a 50 day simple moving average of $4.88 and a 200-day simple moving average of $11.73. The stock has a market cap of $5.61 million, a P/E ratio of 0.00 and a beta of 1.64.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Weiss Ratings upgraded shares of Aptevo Therapeutics from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, May 8th. Wall Street Zen upgraded shares of Aptevo Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, March 29th. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Aptevo Therapeutics currently has an average rating of “Hold”.

Hedge Funds Weigh In On Aptevo Therapeutics

A hedge fund recently bought a new stake in Aptevo Therapeutics stock. Virtu Financial LLC bought a new position in shares of Aptevo Therapeutics Inc. (NASDAQ:APVO) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 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 SEC filing. 8.06% of the stock is owned by institutional investors.

About Aptevo Therapeutics

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.