Short Interest in Aptevo Therapeutics Inc. (NASDAQ:APVO) Declines By 38.8%

Aptevo Therapeutics Inc. (NASDAQ:APVO) saw a significant decrease in short interest in November. As of November 15th, there was short interest totalling 734,600 shares, a decrease of 38.8% from the October 31st total of 1,200,000 shares. Based on an average daily trading volume, of 6,700,000 shares, the short-interest ratio is currently 0.1 days.

Hedge Funds Weigh In On Aptevo Therapeutics

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Roth Mkm reduced their price objective on Aptevo Therapeutics from $15.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. StockNews.com assumed coverage on Aptevo Therapeutics in a research report on Saturday, November 23rd. They issued a “sell” rating for the company.

Aptevo Therapeutics Stock Performance

Shares of Aptevo Therapeutics stock traded down $0.07 during trading on Friday, hitting $0.28. The stock had a trading volume of 2,663,165 shares, compared to its average volume of 3,761,649. Aptevo Therapeutics has a 1 year low of $0.14 and a 1 year high of $10.80. The stock has a 50 day simple moving average of $0.23 and a 200 day simple moving average of $0.40.

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.