Aptevo Therapeutics (NASDAQ:APVO) Price Target Cut to $8.00

Aptevo Therapeutics (NASDAQ:APVO) had its price objective cut by analysts at Roth Mkm from $15.00 to $8.00 in a report released on Monday, Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock.

Separately, StockNews.com began coverage on shares of Aptevo Therapeutics in a research note on Thursday. They set a “sell” rating on the stock.

Aptevo Therapeutics Stock Performance

Aptevo Therapeutics stock traded up $0.01 during trading hours on Monday, reaching $0.18. 139,646 shares of the company’s stock were exchanged, compared to its average volume of 2,600,018. The firm’s 50 day simple moving average is $0.37 and its 200 day simple moving average is $1.23. Aptevo Therapeutics has a twelve month low of $0.14 and a twelve month high of $21.56.

Aptevo Therapeutics (NASDAQ:APVO) last issued its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($1.67) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.93) by $0.26. As a group, analysts anticipate that Aptevo Therapeutics will post -4.3 EPS for the current year.

Institutional Investors Weigh In On Aptevo Therapeutics

A hedge fund recently bought a new stake in Aptevo Therapeutics stock. Armistice Capital LLC purchased a new position in shares of Aptevo Therapeutics Inc. (NASDAQ:APVO) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 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 quarter. Institutional investors and hedge funds own 8.06% of the company’s stock.

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.