Aptose Biosciences (NASDAQ:APTO) Stock Price Crosses Below 50 Day Moving Average – Should You Sell?

Shares of Aptose Biosciences Inc. (NASDAQ:APTO) (TSE:APS) passed below its fifty day moving average during trading on Tuesday . The stock has a fifty 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.

Analysts Set New Price Targets

Several analysts have recently commented on APTO shares. StockNews.com assumed coverage on shares of Aptose Biosciences in a report on Wednesday. They issued a “hold” rating on the stock. HC Wainwright reissued a “buy” rating and issued a $2.00 price objective on shares of Aptose Biosciences in a report on Tuesday, December 10th.

Aptose Biosciences Stock Down 6.2 %

The firm has a market cap of $12.83 million, a price-to-earnings ratio of -0.07 and a beta of 0.87. The company’s 50-day moving average price is $0.26 and its 200-day moving average price is $0.41.

Institutional Investors Weigh In On Aptose Biosciences

An institutional investor recently raised its position in Aptose Biosciences stock. Sigma Planning Corp grew its stake in Aptose Biosciences Inc. (NASDAQ:APTO) (TSE:APS) by 71.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 401,750 shares of the biotechnology company’s stock after buying an additional 167,282 shares during the period. Sigma Planning Corp owned 2.22% of Aptose Biosciences worth $165,000 at the end of the most recent reporting period. 26.62% of the stock is owned by hedge funds and other institutional investors.

About Aptose Biosciences

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.