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

Aptevo Therapeutics Inc. (NASDAQ:APVO) saw a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 154,700 shares, a growth of 164.9% from the September 30th total of 58,400 shares. Based on an average daily trading volume, of 5,750,000 shares, the days-to-cover ratio is currently 0.0 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Aptevo Therapeutics stock. Armistice Capital LLC bought a new position in Aptevo Therapeutics Inc. (NASDAQ:APVO) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 749,234 shares of the biotechnology company’s stock, valued at approximately $229,000. Armistice Capital LLC owned approximately 18.36% of Aptevo Therapeutics at the end of the most recent reporting period. Institutional investors own 8.06% of the company’s stock.

Aptevo Therapeutics Stock Performance

Shares of APVO stock remained flat at $0.25 on Friday. The stock had a trading volume of 2,297,996 shares, compared to its average volume of 3,854,351. The firm has a 50 day moving average price of $0.26 and a 200 day moving average price of $0.50. Aptevo Therapeutics has a 12 month low of $0.14 and a 12 month high of $15.14.

Aptevo Therapeutics (NASDAQ:APVO) last issued its earnings results on Thursday, August 8th. The biotechnology company reported ($1.67) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.93) by $0.26. Equities analysts predict that Aptevo Therapeutics will post -2.97 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Roth Mkm decreased their price objective on shares of Aptevo Therapeutics from $15.00 to $8.00 and set a “buy” rating for the company in a report on Monday, September 23rd. StockNews.com started coverage on shares of Aptevo Therapeutics in a research note on Tuesday, October 22nd. They set a “sell” rating for the company.

Aptevo Therapeutics Company Profile

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.