Aptevo Therapeutics (NASDAQ:APVO) Posts Earnings Results, Beats Expectations By $0.70 EPS

Aptevo Therapeutics (NASDAQ:APVO) released its quarterly earnings data on Friday. The biotechnology company reported ($5.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($6.01) by $0.70, FiscalAI reports.

Aptevo Therapeutics Price Performance

Shares of NASDAQ:APVO opened at $2.94 on Friday. Aptevo Therapeutics has a 1 year low of $2.84 and a 1 year high of $48.78. The company has a market cap of $4.47 million, a PE ratio of -0.01 and a beta of 1.65. The stock’s 50-day moving average is $4.37 and its 200 day moving average is $5.10.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of Aptevo Therapeutics from a “sell (e+)” rating to a “sell (e)” rating in a report on Thursday. One equities research 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 company’s stock. According to MarketBeat, Aptevo Therapeutics has an average rating of “Hold”.

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 shares of Aptevo Therapeutics Inc. (NASDAQ:APVO) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 38,282 shares of the biotechnology company’s stock, valued at approximately $56,000. Virtu Financial LLC owned approximately 1.16% 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.