Aptevo Therapeutics Inc (NASDAQ:APVO) Short Interest Down 75.1% in July

Aptevo Therapeutics Inc (NASDAQ:APVO) saw a large decrease in short interest during the month of July. As of July 15th, there was short interest totalling 48,200 shares, a decrease of 75.1% from the June 30th total of 193,600 shares. Based on an average daily trading volume, of 640,900 shares, the days-to-cover ratio is currently 0.1 days. Approximately 1.7% of the company’s stock are short sold.

Several equities analysts have recently commented on the company. ValuEngine upgraded Aptevo Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 1st. Piper Sandler reduced their target price on Aptevo Therapeutics from $24.00 to $18.50 in a research note on Friday, May 15th. Finally, Zacks Investment Research upgraded Aptevo Therapeutics from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research note on Tuesday, June 30th.

APVO stock opened at $8.40 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.12 and a quick ratio of 2.12. Aptevo Therapeutics has a 12-month low of $2.94 and a 12-month high of $14.28. The stock’s 50 day simple moving average is $7.62 and its 200 day simple moving average is $3.93.

Aptevo Therapeutics (NASDAQ:APVO) last posted its quarterly earnings results on Wednesday, May 13th. The biotechnology company reported ($2.84) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.35) by ($0.49). Aptevo Therapeutics had a negative net margin of 102.54% and a negative return on equity of 224.05%. On average, sell-side analysts forecast that Aptevo Therapeutics will post -9.3 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of APVO. Marshall Wace LLP acquired a new stake in Aptevo Therapeutics in the first quarter worth $33,000. Renaissance Technologies LLC increased its position in Aptevo Therapeutics by 9.8% in 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 during the period. Finally, UBS Group AG increased its position in Aptevo Therapeutics by 27.3% in 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 during the period. 14.99% of the stock is currently 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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