Aptevo Therapeutics Inc (NASDAQ:APVO) Short Interest Update

Aptevo Therapeutics Inc (NASDAQ:APVO) was the target of a large decline in short interest in March. As of March 15th, there was short interest totalling 161,478 shares, a decline of 76.5% from the February 28th total of 686,768 shares. Based on an average daily volume of 1,119,218 shares, the short-interest ratio is currently 0.1 days. Currently, 0.9% of the company’s stock are short sold.

A number of brokerages have weighed in on APVO. Piper Jaffray Companies lifted their target price on Aptevo Therapeutics from $4.00 to $4.50 and gave the company an “overweight” rating in a research report on Monday. ValuEngine raised Aptevo Therapeutics from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Finally, Zacks Investment Research raised Aptevo Therapeutics from a “hold” rating to a “buy” rating and set a $1.00 target price for the company in a research report on Thursday, March 14th. Five investment analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus price target of $7.88.

Several institutional investors and hedge funds have recently added to or reduced their stakes in APVO. Deutsche Bank AG raised its position in shares of Aptevo Therapeutics by 251.7% in the 4th quarter. Deutsche Bank AG now owns 330,200 shares of the biotechnology company’s stock worth $419,000 after acquiring an additional 236,300 shares in the last quarter. Sessa Capital IM L.P. raised its position in shares of Aptevo Therapeutics by 35.9% in the 3rd quarter. Sessa Capital IM L.P. now owns 706,613 shares of the biotechnology company’s stock worth $3,590,000 after acquiring an additional 186,719 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Aptevo Therapeutics by 11.1% in the 3rd quarter. Renaissance Technologies LLC now owns 1,277,100 shares of the biotechnology company’s stock worth $6,488,000 after acquiring an additional 127,700 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Aptevo Therapeutics by 5.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,425,567 shares of the biotechnology company’s stock worth $7,242,000 after acquiring an additional 73,911 shares in the last quarter. Finally, Clifford Swan Investment Counsel LLC acquired a new position in Aptevo Therapeutics during the 4th quarter valued at about $35,000. 17.08% of the stock is owned by hedge funds and other institutional investors.

Shares of APVO traded down $0.01 during trading hours on Monday, hitting $0.83. The company had a trading volume of 778,028 shares, compared to its average volume of 1,160,525. The firm has a market cap of $35.43 million, a price-to-earnings ratio of -0.35 and a beta of 2.88. The company has a current ratio of 2.76, a quick ratio of 2.66 and a debt-to-equity ratio of 0.63. Aptevo Therapeutics has a one year low of $0.78 and a one year high of $6.35.

Aptevo Therapeutics (NASDAQ:APVO) last released its quarterly earnings results on Monday, March 18th. The biotechnology company reported ($0.62) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.53) by ($0.09). Aptevo Therapeutics had a negative return on equity of 108.06% and a negative net margin of 232.68%. On average, equities research analysts forecast that Aptevo Therapeutics will post -1.14 EPS for the current year.

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About Aptevo Therapeutics

Aptevo Therapeutics Inc, a biotechnology company, engages in the discovery, development, commercialization, and sale of novel oncology and hematology therapeutics in the United States. Its marketed products include IXINITY, which is 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; and WinRho SDF for the treatment of autoimmune platelet disorders, as well as for the treatment of hemolytic disease of the newborn.

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