Aptevo Therapeutics Inc. (NASDAQ:APVO) Sees Large Increase in Short Interest

Aptevo Therapeutics Inc. (NASDAQ:APVO) was the target of a significant increase in short interest during the month of October. As of October 29th, there was short interest totalling 83,200 shares, an increase of 32.3% from the October 14th total of 62,900 shares. Based on an average daily volume of 52,200 shares, the short-interest ratio is presently 1.6 days.

A number of institutional investors have recently made changes to their positions in APVO. Marshall Wace LLP purchased a new stake in Aptevo Therapeutics in the 1st quarter worth about $33,000. Morgan Stanley lifted its stake in Aptevo Therapeutics by 31.9% in the 3rd quarter. Morgan Stanley now owns 11,028 shares of the biotechnology company’s stock worth $170,000 after acquiring an additional 2,664 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Aptevo Therapeutics in the 3rd quarter worth about $211,000. Franklin Resources Inc. purchased a new stake in Aptevo Therapeutics in the 3rd quarter worth about $242,000. Finally, State Street Corp purchased a new stake in Aptevo Therapeutics in the 2nd quarter worth about $246,000. 96.53% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ APVO opened at $7.30 on Friday. Aptevo Therapeutics has a 12 month low of $7.20 and a 12 month high of $51.75. The company has a quick ratio of 2.13, a current ratio of 1.82 and a debt-to-equity ratio of 0.55. The business has a fifty day simple moving average of $14.73 and a 200-day simple moving average of $19.25.

Several brokerages have recently commented on APVO. Zacks Investment Research downgraded Aptevo Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, October 19th. Roth Capital reduced their target price on Aptevo Therapeutics from $50.00 to $36.00 and set a “buy” rating for the company in a report on Monday, November 15th.

Aptevo Therapeutics Company Profile

Aptevo Therapeutics, Inc is a clinical-stage biotechnology company, which focuses on developing novel immunotherapies for the treatment of cancer. Its pipeline APVO436, ALG.APV-527 and APVO603 were developed based on the ADAPTIR modular protein platform technology and APVO442 was developed based on the new ADAPTIR-FLE platform technology.

Read More: What is Green Investing?

Receive News & Ratings for Aptevo Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aptevo Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.