Aptevo Therapeutics (NASDAQ:APVO) Announces Quarterly Earnings Results, Misses Estimates By $0.40 EPS

Aptevo Therapeutics (NASDAQ:APVO – Get Rating) posted its quarterly earnings data on Thursday. The biotechnology company reported ($1.55) earnings per share for the quarter, missing the consensus estimate 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%.

NASDAQ APVO traded up $0.35 on Friday, reaching $4.60. The company had a trading volume of 52,255 shares, compared to its average volume of 43,218. 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 1-year low of $3.45 and a 1-year high of $31.76. The company’s fifty day moving average is $4.96 and its 200-day moving average is $7.13.

APVO has been the subject of several recent research reports. Piper Sandler dropped their target price on shares of Aptevo Therapeutics from $69.00 to $20.00 in a research report on Friday. Zacks Investment Research upgraded shares of Aptevo Therapeutics from a “hold” rating to a “buy” rating and set a $6.75 target price for the company in a research report on Tuesday, March 29th. Finally, StockNews.com cut shares of Aptevo Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday.

A number of hedge funds and other institutional investors have recently made changes to their positions in APVO. Vanguard Group Inc. grew its holdings in shares of Aptevo Therapeutics by 7.3% in the 1st quarter. Vanguard Group Inc. now owns 240,819 shares of the biotechnology company’s stock valued at $1,414,000 after acquiring an additional 16,337 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Aptevo Therapeutics in the 1st quarter valued at about $152,000. Schonfeld Strategic Advisors LLC bought a new position in shares of Aptevo Therapeutics in the 4th quarter valued at about $1,233,000. Morgan Stanley grew its holdings in Aptevo Therapeutics by 31.9% during the third quarter. Morgan Stanley now owns 11,028 shares of the biotechnology company’s stock worth $170,000 after purchasing an additional 2,664 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Aptevo Therapeutics by 2.6% during the third quarter. Geode Capital Management LLC now owns 39,924 shares of the biotechnology company’s stock worth $616,000 after purchasing an additional 1,007 shares during the period. 33.64% of the stock is owned by hedge funds and other institutional investors.

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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