Aptose Biosciences (NASDAQ:APTO) Share Price Crosses Below 50-Day Moving Average – What’s Next?

Shares of Aptose Biosciences Inc. (NASDAQ:APTO) (TSE:APS) passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $0.26 and traded as low as $0.22. Aptose Biosciences shares last traded at $0.23, with a volume of 731,786 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on APTO shares. HC Wainwright reissued a “buy” rating and set a $2.00 price target on shares of Aptose Biosciences in a report on Tuesday, December 10th. StockNews.com began coverage on Aptose Biosciences in a research note on Wednesday. They set a “hold” rating on the stock.

Aptose Biosciences Price Performance

The stock’s fifty day moving average price is $0.26 and its 200 day moving average price is $0.41. The stock has a market capitalization of $12.83 million, a P/E ratio of -0.07 and a beta of 0.87.

Hedge Funds Weigh In On Aptose Biosciences

A hedge fund recently bought a new stake in Aptose Biosciences stock. Armistice Capital LLC purchased a new position in Aptose Biosciences Inc. (NASDAQ:APTO) (TSE:APS) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,713,000 shares of the biotechnology company’s stock, valued at approximately $1,300,000. Armistice Capital LLC owned about 9.46% of Aptose Biosciences at the end of the most recent quarter. 26.62% of the stock is owned by institutional investors.

Aptose Biosciences Company Profile

Aptose Biosciences Inc, a clinical-stage biotechnology company, discovers and develops personalized therapies addressing unmet medical needs in oncology in Canada. Its lead clinical program is APTO-253, which is a Phase I clinical trial for the treatment of patients with relapsed or refractory hematologic malignancies.