Aptevo Therapeutics (NASDAQ:APVO) Posts Earnings Results, Misses Expectations By $0.40 EPS

Aptevo Therapeutics (NASDAQ:APVO – Get Rating) posted its quarterly earnings results on Thursday. The biotechnology company reported ($1.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.15) by ($0.40), Fidelity Earnings reports. Aptevo Therapeutics had a negative return on equity of 357.62% and a negative net margin of 231.51%.

APVO traded up $0.35 during midday trading on Friday, hitting $4.60. 52,255 shares of the company’s stock traded hands, compared to its average volume of 43,218. The stock’s fifty day simple moving average is $4.96 and its 200-day simple moving average is $7.18. The company has a debt-to-equity ratio of 3.05, a current ratio of 1.51 and a quick ratio of 1.51. Aptevo Therapeutics has a one year low of $3.45 and a one year high of $31.76.

A number of institutional investors and hedge funds have recently modified their holdings of APVO. Bank of New York Mellon Corp bought a new position in shares of Aptevo Therapeutics in the first quarter valued at approximately $152,000. Morgan Stanley lifted its stake in shares of Aptevo Therapeutics by 31.9% in the third quarter. Morgan Stanley now owns 11,028 shares of the biotechnology company’s stock worth $170,000 after buying an additional 2,664 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Aptevo Therapeutics by 2.6% in the third quarter. Geode Capital Management LLC now owns 39,924 shares of the biotechnology company’s stock worth $616,000 after buying an additional 1,007 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Aptevo Therapeutics in the fourth quarter worth $1,233,000. Finally, Vanguard Group Inc. lifted its stake in shares of Aptevo Therapeutics by 7.3% in the first quarter. Vanguard Group Inc. now owns 240,819 shares of the biotechnology company’s stock worth $1,414,000 after buying an additional 16,337 shares during the last quarter. 33.64% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have recently issued reports on APVO shares. Zacks Investment Research raised shares of Aptevo Therapeutics from a “hold” rating to a “buy” rating and set a $6.75 price target for the company in a research report on Tuesday, March 29th. Piper Sandler reduced their price target on shares of Aptevo Therapeutics from $69.00 to $20.00 in a research report on Friday. Finally, StockNews.com lowered shares of Aptevo Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday.

Aptevo Therapeutics Company Profile (Get Rating)

Aptevo Therapeutics Inc, a clinical-stage biotechnology company, focuses on developing immunotherapeutic candidates for the treatment of various forms of cancer in the United States. Its lead clinical candidate is APVO436, a bispecific T-cell engaging antibody candidate that is in Phase 1b clinical trial for acute myelogenous leukemia and myelodysplastic syndrome.

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