Aptevo Therapeutics Inc. (NASDAQ:APVO) Short Interest Up 536.1% in December

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

Hedge Funds 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 shares of Aptevo Therapeutics Inc. (NASDAQ:APVO) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 749,234 shares of the biotechnology company’s stock, valued at approximately $229,000. Armistice Capital LLC owned 18.36% of Aptevo Therapeutics at the end of the most recent quarter. Institutional investors own 8.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on APVO shares. StockNews.com assumed coverage on Aptevo Therapeutics in a research report on Monday, December 9th. They issued a “sell” rating for the company. Roth Mkm decreased their price objective on shares of Aptevo Therapeutics from $20,535.00 to $10,952.00 and set a “buy” rating for the company in a report on Monday, September 23rd.

Aptevo Therapeutics Trading Down 5.9 %

APVO stock opened at $4.81 on Friday. The company has a fifty day simple moving average of $242.49 and a two-hundred day simple moving average of $402.06. Aptevo Therapeutics has a 52 week low of $3.65 and a 52 week high of $399.60.

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.