Kevin C. Tang Sells 369,533 Shares of Aptevo Therapeutics Inc. (NASDAQ:APVO) Stock

Aptevo Therapeutics Inc. (NASDAQ:APVO) major shareholder Kevin C. Tang sold 369,533 shares of the company’s stock in a transaction that occurred on Thursday, November 18th. The shares were sold at an average price of $8.34, for a total transaction of $3,081,905.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

NASDAQ APVO traded down $0.82 on Monday, hitting $6.48. 613,399 shares of the company were exchanged, compared to its average volume of 70,060. Aptevo Therapeutics Inc. has a 12 month low of $6.38 and a 12 month high of $51.75. The stock has a fifty day moving average of $14.73 and a 200-day moving average of $19.15. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.55.

A number of equities research analysts have recently commented on APVO shares. Roth Capital reduced their price objective on shares of Aptevo Therapeutics from $50.00 to $36.00 and set a “buy” rating on the stock in a research note on Monday, November 15th. Zacks Investment Research lowered shares of Aptevo Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, October 19th.

A number of hedge funds and other institutional investors have recently modified their holdings of APVO. Moors & Cabot Inc. bought a new position in Aptevo Therapeutics during the third quarter worth $3,729,000. Kennedy Capital Management Inc. bought a new position in Aptevo Therapeutics during the second quarter worth $4,217,000. Marshall Wace LLP bought a new position in Aptevo Therapeutics during the first quarter worth $33,000. Franklin Resources Inc. bought a new position in Aptevo Therapeutics during the third quarter worth $242,000. Finally, Northern Trust Corp boosted its stake in Aptevo Therapeutics by 170.7% during the second quarter. Northern Trust Corp now owns 22,652 shares of the biotechnology company’s stock worth $508,000 after acquiring an additional 14,285 shares in the last quarter. 96.53% of the stock is currently owned by institutional investors and hedge funds.

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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