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

Aptevo Therapeutics Inc. (NASDAQ:APVO) saw a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 241,700 shares, an increase of 536.1% from the November 30th total of 38,000 shares. Approximately 16.6% of the company’s shares are short sold. Based on an average daily volume of 313,000 shares, the days-to-cover ratio is currently 0.8 days.

Analyst Ratings Changes

APVO has been the subject of several analyst reports. StockNews.com initiated coverage on Aptevo Therapeutics in a research report on Monday, December 9th. They set a “sell” rating for the company. Roth Mkm reduced their target price on Aptevo Therapeutics from $20,535.00 to $10,952.00 and set a “buy” rating on the stock in a report on Monday, September 23rd.

Aptevo Therapeutics Trading Up 5.6 %

APVO stock traded up $0.27 during mid-day trading on Thursday, reaching $5.11. The company’s stock had a trading volume of 151,604 shares, compared to its average volume of 134,010. Aptevo Therapeutics has a 12 month low of $3.65 and a 12 month high of $399.60. The business’s 50 day moving average price is $252.13 and its 200 day moving average price is $412.75.

Institutional Investors Weigh In On Aptevo Therapeutics

An institutional investor recently bought a new position in Aptevo Therapeutics stock. Armistice Capital LLC bought a new position in shares of Aptevo Therapeutics Inc. (NASDAQ:APVO) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 749,234 shares of the biotechnology company’s stock, valued at approximately $229,000. Armistice Capital LLC owned 18.36% of Aptevo Therapeutics as of its most recent SEC filing. 8.06% of the stock is owned by institutional investors and hedge funds.

About Aptevo Therapeutics

Aptevo Therapeutics Inc, a clinical-stage research and development biotechnology company, focuses on developing immunotherapeutic candidates for the treatment of various forms of cancer in the United States. It develops its products using ADAPTIR and ADAPTIR-FLEX platforms to generate monospecific, bispecific, and multi-specific antibody candidates capable of enhancing the human immune system against cancer cells.