Aptevo Therapeutics Inc. (APVO) Given “Overweight” Rating at Piper Jaffray Companies
Aptevo Therapeutics Inc. (NASDAQ:APVO)‘s stock had its “overweight” rating reissued by equities research analysts at Piper Jaffray Companies in a report released on Thursday, MarketBeat Ratings reports. They presently have a $6.00 price target on the biotechnology company’s stock. Piper Jaffray Companies’ price target points to a potential upside of 119.38% from the stock’s current price.
Separately, ValuEngine upgraded Aptevo Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 6th.
Aptevo Therapeutics (APVO) traded up 17.67% during midday trading on Thursday, hitting $2.73. The stock had a trading volume of 19,961,940 shares. The stock has a 50-day moving average price of $2.08 and a 200 day moving average price of $2.08. Aptevo Therapeutics has a 12-month low of $1.70 and a 12-month high of $3.85. The firm’s market cap is $58.47 million.
Aptevo Therapeutics (NASDAQ:APVO) last issued its quarterly earnings data on Thursday, August 10th. The biotechnology company reported ($0.53) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.61) by $0.08. Aptevo Therapeutics had a negative return on equity of 64.80% and a negative net margin of 296.64%. The firm had revenue of $10.76 million during the quarter. On average, equities analysts anticipate that Aptevo Therapeutics will post ($2.26) earnings per share for the current fiscal year.
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A number of hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its stake in Aptevo Therapeutics by 8.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,056,729 shares of the biotechnology company’s stock worth $2,187,000 after acquiring an additional 78,109 shares during the period. Precept Management LLC purchased a new stake in Aptevo Therapeutics in the 2nd quarter worth approximately $1,210,000. Legal & General Group Plc grew its stake in Aptevo Therapeutics by 11,751.3% in the 2nd quarter. Legal & General Group Plc now owns 393,701 shares of the biotechnology company’s stock worth $815,000 after acquiring an additional 390,379 shares during the period. Finally, Spark Investment Management LLC grew its stake in Aptevo Therapeutics by 167.4% in the 2nd quarter. Spark Investment Management LLC now owns 61,500 shares of the biotechnology company’s stock worth $127,000 after acquiring an additional 38,500 shares during the period. 39.16% of the stock is owned by hedge funds and other institutional investors.
About Aptevo Therapeutics
Aptevo Therapeutics Inc is a biotechnology company. The Company is focused on oncology and hematology therapeutics. The Company is engaged in the discovery, development, commercialization and sale of oncology and hematology therapeutics. The Company’s technology is the ADAPTIR (modular protein technology) platform.
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