Kevin C. Tang Sells 255,331 Shares of Aptevo Therapeutics Inc. (NASDAQ:APVO) Stock

Aptevo Therapeutics Inc. (NASDAQ:APVO) major shareholder Kevin C. Tang sold 255,331 shares of the company’s stock in a transaction on Monday, November 22nd. The stock was sold at an average price of $7.03, for a total value of $1,794,976.93. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

NASDAQ APVO traded down $0.82 on Monday, reaching $6.48. The company had a trading volume of 613,399 shares, compared to its average volume of 70,060. Aptevo Therapeutics Inc. has a fifty-two week low of $6.38 and a fifty-two week high of $51.75. The business has a 50 day moving average of $14.73 and a two-hundred day moving average of $19.15. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.82 and a current ratio of 1.82.

A number of institutional investors have recently modified their holdings of the business. Boothbay Fund Management LLC grew its holdings in Aptevo Therapeutics by 4.9% during the 2nd quarter. Boothbay Fund Management LLC now owns 15,350 shares of the biotechnology company’s stock worth $344,000 after acquiring an additional 720 shares during the period. Geode Capital Management LLC grew its holdings in Aptevo Therapeutics by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 39,924 shares of the biotechnology company’s stock worth $616,000 after acquiring an additional 1,007 shares during the period. BlackRock Inc. grew its holdings in Aptevo Therapeutics by 1.9% during the 3rd quarter. BlackRock Inc. now owns 55,394 shares of the biotechnology company’s stock worth $856,000 after acquiring an additional 1,010 shares during the period. Morgan Stanley grew its holdings in Aptevo Therapeutics by 31.9% during 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 during the period. Finally, Vanguard Group Inc. grew its holdings in Aptevo Therapeutics by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 134,760 shares of the biotechnology company’s stock worth $3,022,000 after acquiring an additional 3,830 shares during the period. Hedge funds and other institutional investors own 96.53% of the company’s stock.

Several brokerages have recently issued reports on APVO. Zacks Investment Research downgraded shares of Aptevo Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, October 19th. Roth Capital decreased their price objective 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.

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