Aptevo Therapeutics Inc (NASDAQ:APVO) Sees Significant Drop in Short Interest

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Aptevo Therapeutics Inc (NASDAQ:APVO) saw a significant drop in short interest in March. As of March 13th, there was short interest totalling 918,900 shares, a drop of 44.3% from the February 27th total of 1,650,000 shares. Currently, 2.3% of the company’s stock are sold short. Based on an average trading volume of 2,773,100 shares, the days-to-cover ratio is currently 0.3 days.

APVO has been the subject of several recent research reports. Roth Capital reaffirmed a “buy” rating on shares of Aptevo Therapeutics in a research report on Wednesday, March 4th. Piper Sandler decreased their price target on shares of Aptevo Therapeutics from to in a research report on Monday, March 2nd. Finally, Zacks Investment Research raised shares of Aptevo Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, March 18th.

APVO stock opened at $0.27 on Friday. Aptevo Therapeutics has a twelve month low of $0.21 and a twelve month high of $1.04. The company has a current ratio of 0.99, a quick ratio of 0.79 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $13.16 million, a P/E ratio of -0.11 and a beta of 2.55. The firm has a 50 day simple moving average of $0.40 and a 200-day simple moving average of $0.57.

Several hedge funds have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. grew its position in shares of Aptevo Therapeutics by 4.3% during the third quarter. Point72 Asset Management L.P. now owns 2,450,000 shares of the biotechnology company’s stock worth $1,442,000 after buying an additional 100,000 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Aptevo Therapeutics by 9.8% during the fourth quarter. Renaissance Technologies LLC now owns 2,379,859 shares of the biotechnology company’s stock worth $1,558,000 after buying an additional 212,524 shares in the last quarter. UBS Group AG grew its position in shares of Aptevo Therapeutics by 27.3% during the fourth quarter. UBS Group AG now owns 175,092 shares of the biotechnology company’s stock worth $115,000 after buying an additional 37,554 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Aptevo Therapeutics during the first quarter worth approximately $33,000. 29.13% of the stock is owned by institutional investors and hedge funds.

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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