Wall Street analysts forecast that Aptevo Therapeutics Inc (NASDAQ:APVO) will report $7.05 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Aptevo Therapeutics’ earnings, with the highest sales estimate coming in at $7.10 million and the lowest estimate coming in at $7.00 million. Aptevo Therapeutics reported sales of $5.82 million in the same quarter last year, which indicates a positive year-over-year growth rate of 21.1%. The business is expected to issue its next quarterly earnings results on Wednesday, November 13th.
On average, analysts expect that Aptevo Therapeutics will report full year sales of $28.69 million for the current fiscal year, with estimates ranging from $28.00 million to $29.38 million. For the next year, analysts forecast that the business will post sales of $35.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Aptevo Therapeutics.
Aptevo Therapeutics (NASDAQ:APVO) last released its earnings results on Friday, August 9th. The biotechnology company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.03. The firm had revenue of $7.36 million during the quarter, compared to the consensus estimate of $6.95 million. Aptevo Therapeutics had a negative return on equity of 148.97% and a negative net margin of 195.98%.
In other news, Director Fuad El-Hibri bought 30,000 shares of Aptevo Therapeutics stock in a transaction on Monday, July 22nd. The shares were purchased at an average price of $0.89 per share, for a total transaction of $26,700.00. Following the acquisition, the director now owns 959,521 shares of the company’s stock, valued at $853,973.69. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Marvin L. White bought 50,000 shares of Aptevo Therapeutics stock in a transaction on Friday, June 14th. The shares were purchased at an average price of $0.88 per share, for a total transaction of $44,000.00. Following the acquisition, the chief executive officer now directly owns 293,603 shares in the company, valued at approximately $258,370.64. The disclosure for this purchase can be found here. Insiders have acquired a total of 416,380 shares of company stock worth $340,044 in the last quarter. Company insiders own 11.74% of the company’s stock.
Several hedge funds have recently bought and sold shares of the business. Stonepine Capital Management LLC raised its holdings in 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 purchasing an additional 28,672 shares during the period. Point72 Asset Management L.P. increased its stake in Aptevo Therapeutics by 6.8% in the 2nd 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. Renaissance Technologies LLC increased its stake in Aptevo Therapeutics by 32.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,644,856 shares of the biotechnology company’s stock worth $1,458,000 after buying an additional 406,930 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Aptevo Therapeutics by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,442,049 shares of the biotechnology company’s stock worth $1,831,000 after buying an additional 16,482 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in Aptevo Therapeutics by 312.8% in the 2nd quarter. Acadian Asset Management LLC now owns 632,507 shares of the biotechnology company’s stock worth $560,000 after buying an additional 479,278 shares in the last quarter. Hedge funds and other institutional investors own 36.37% of the company’s stock.
Shares of APVO stock traded up $0.02 on Friday, hitting $0.76. 251,200 shares of the company’s stock were exchanged, compared to its average volume of 577,583. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.63 and a quick ratio of 2.91. Aptevo Therapeutics has a 12 month low of $0.49 and a 12 month high of $5.80. The stock has a market cap of $33.83 million, a P/E ratio of -0.32 and a beta of 2.39. The company has a 50 day moving average of $0.87 and a 200 day moving average of $0.98.
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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