Aptevo Therapeutics Inc (NASDAQ:APVO) was the target of a large growth in short interest in July. As of July 31st, there was short interest totalling 61,500 shares, a growth of 27.6% from the July 15th total of 48,200 shares. Approximately 2.1% of the shares of the company are short sold. Based on an average daily trading volume, of 641,600 shares, the days-to-cover ratio is presently 0.1 days.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in APVO. UBS Group AG lifted its stake in Aptevo Therapeutics by 27.3% during the fourth quarter. UBS Group AG now owns 175,092 shares of the biotechnology company’s stock worth $115,000 after purchasing an additional 37,554 shares during the period. Marshall Wace LLP bought a new position in Aptevo Therapeutics during the first quarter worth about $33,000. Finally, WINTON GROUP Ltd bought a new position in Aptevo Therapeutics during the second quarter worth about $95,000. Institutional investors and hedge funds own 14.99% of the company’s stock.
Shares of NASDAQ APVO traded down $0.13 during mid-day trading on Friday, hitting $8.75. The company had a trading volume of 194 shares, compared to its average volume of 110,548. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.50 and a quick ratio of 2.12. The business’s 50-day simple moving average is $8.31 and its 200-day simple moving average is $4.69. Aptevo Therapeutics has a 12 month low of $2.94 and a 12 month high of $11.73. The firm has a market cap of $28.42 million, a P/E ratio of -0.58 and a beta of 2.70.
APVO has been the subject of a number of research reports. ValuEngine raised Aptevo Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 1st. Piper Sandler increased their target price on Aptevo Therapeutics from $24.00 to $32.00 in a report on Friday, August 14th. Finally, Zacks Investment Research upgraded Aptevo Therapeutics from a “hold” rating to a “buy” rating and set a $9.25 price objective for the company in a report on Tuesday, August 11th.
About Aptevo Therapeutics
Aptevo Therapeutics Inc, a clinical-stage biotechnology company, engages in the discovery, development, commercialization, and sale of novel oncology and hematology therapeutics in the United States. Its marketed product includes IXINITY, a coagulation factor IX therapeutic indicated in adults and children 12 years of age and older with hemophilia B for control and prevention of bleeding episodes, and management of bleeding during operations.
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