Short Interest in Aptevo Therapeutics Inc. (NASDAQ:APVO) Drops By 55.8%

Aptevo Therapeutics Inc. (NASDAQ:APVO) was the recipient of a significant decrease in short interest in the month of June. As of June 15th, there was short interest totalling 21,100 shares, a decrease of 55.8% from the May 31st total of 47,700 shares. Based on an average daily volume of 843,700 shares, the short-interest ratio is presently 0.0 days. Approximately 0.5% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on Aptevo Therapeutics in a report on Thursday, April 18th. They issued a “sell” rating on the stock.

Aptevo Therapeutics Price Performance

APVO traded down $0.21 during trading on Friday, reaching $0.31. 2,524,907 shares of the stock traded hands, compared to its average volume of 158,767. Aptevo Therapeutics has a fifty-two week low of $0.30 and a fifty-two week high of $80.96. The stock’s 50-day simple moving average is $0.76 and its two-hundred day simple moving average is $4.14.

Aptevo Therapeutics (NASDAQ:APVO) last posted its earnings results on Wednesday, May 8th. The biotechnology company reported ($9.95) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($14.10) by $4.15. Analysts forecast that Aptevo Therapeutics will post -8.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Aptevo Therapeutics

An institutional investor recently bought a new position in Aptevo Therapeutics stock. Armistice Capital LLC acquired a new position in Aptevo Therapeutics Inc. (NASDAQ:APVO) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,235,000 shares of the biotechnology company’s stock, valued at approximately $408,000. Armistice Capital LLC owned 10.72% of Aptevo Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC). 8.06% of the stock is owned by hedge funds and other institutional investors.

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.