Zacks Investment Research upgraded shares of Aptevo Therapeutics (NASDAQ:APVO) from a sell rating to a buy rating in a research note published on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $0.75 target price on the biotechnology company’s stock.
According to Zacks, “Aptevo Therapeutics Inc. is a biotechnology company which focused on developing oncology and hematology therapeutics. The company’s platform consists of ADAPTIR(TM). Its product pipeline includes WinRho (R) SDF, HepaGam B (R), VARIZIG(R) and IXINITY (R) which are in pre-clinical stage. Aptevo Therapeutics Inc. is based in Seattle, Washington. “
A number of other equities analysts have also recently issued reports on APVO. Piper Jaffray Companies increased their price objective on shares of Aptevo Therapeutics from $4.00 to $4.50 and gave the stock an overweight rating in a research report on Monday, April 15th. Roth Capital reaffirmed a buy rating on shares of Aptevo Therapeutics in a research report on Thursday, May 23rd. Finally, ValuEngine upgraded shares of Aptevo Therapeutics from a hold rating to a buy rating in a research note on Thursday, August 1st. Five research analysts have rated the stock with a buy rating, Aptevo Therapeutics currently has a consensus rating of Buy and a consensus target price of $7.81.
Aptevo Therapeutics (NASDAQ:APVO) last issued its quarterly earnings data on Friday, August 9th. The biotechnology company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.03. Aptevo Therapeutics had a negative return on equity of 148.97% and a negative net margin of 195.98%. The company had revenue of $7.36 million during the quarter, compared to analysts’ expectations of $6.95 million. On average, analysts expect that Aptevo Therapeutics will post -1.39 earnings per share for the current fiscal year.
In related news, Director Zsolt Harsanyi acquired 50,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was purchased at an average cost of $0.78 per share, with a total value of $39,000.00. Following the completion of the acquisition, the director now directly owns 50,000 shares of the company’s stock, valued at $39,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Fuad El-Hibri acquired 55,015 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were bought at an average cost of $0.83 per share, with a total value of $45,662.45. Following the completion of the acquisition, the director now directly owns 1,024,536 shares of the company’s stock, valued at $850,364.88. The disclosure for this purchase can be found here. Insiders acquired 416,380 shares of company stock worth $340,044 in the last 90 days. Corporate insiders own 11.74% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Asset Management L.P. lifted its stake in shares of Aptevo Therapeutics by 6.8% in the second quarter. Point72 Asset Management L.P. now owns 2,350,000 shares of the biotechnology company’s stock worth $2,083,000 after buying an additional 150,000 shares in the last quarter. Worth Venture Partners LLC increased its position in Aptevo Therapeutics by 4.4% during the 2nd quarter. Worth Venture Partners LLC now owns 447,669 shares of the biotechnology company’s stock valued at $397,000 after purchasing an additional 18,669 shares during the period. Algert Global LLC purchased a new position in Aptevo Therapeutics during the 2nd quarter valued at about $66,000. A.R.T. Advisors LLC increased its position in Aptevo Therapeutics by 203.5% during the 2nd quarter. A.R.T. Advisors LLC now owns 131,134 shares of the biotechnology company’s stock valued at $116,000 after purchasing an additional 87,932 shares during the period. Finally, Stonepine Capital Management LLC grew its position in shares of Aptevo Therapeutics by 0.7% in the 2nd quarter. Stonepine Capital Management LLC now owns 3,922,891 shares of the biotechnology company’s stock worth $3,478,000 after buying an additional 28,672 shares during the last quarter. 36.37% of the stock is owned by hedge funds and other institutional investors.
About Aptevo Therapeutics
Aptevo Therapeutics Inc, a clinical-stage biotechnology company, engages in the discovery, development, commercialization, and sale of novel oncology and hematology therapeutics in the United States. Its marketed product includes IXINITY, a coagulation factor IX therapeutic indicated in adults and children 12 years of age and older with hemophilia B for control and prevention of bleeding episodes, and management of bleeding during operations.
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