Short Interest in Aptevo Therapeutics Inc. (NASDAQ:APVO) Decreases By 38.8%

Aptevo Therapeutics Inc. (NASDAQ:APVO) was the target of a large decline in short interest in November. As of November 15th, there was short interest totalling 734,600 shares, a decline of 38.8% from the October 31st total of 1,200,000 shares. Based on an average daily trading volume, of 6,700,000 shares, the days-to-cover ratio is currently 0.1 days.

Analyst Upgrades and Downgrades

APVO has been the subject of several recent analyst reports. StockNews.com started coverage on Aptevo Therapeutics in a research note on Saturday, November 23rd. They set a “sell” rating for the company. Roth Mkm cut their price target on shares of Aptevo Therapeutics from $15.00 to $8.00 and set a “buy” rating for the company in a report on Monday, September 23rd.

Aptevo Therapeutics Price Performance

Shares of APVO opened at $0.35 on Thursday. The business’s 50 day simple moving average is $0.23 and its 200-day simple moving average is $0.40. Aptevo Therapeutics has a one year low of $0.14 and a one year high of $10.80.

Hedge Funds Weigh In On Aptevo Therapeutics

A hedge fund recently bought a new stake in Aptevo Therapeutics stock. Armistice Capital LLC acquired a new position in shares of Aptevo Therapeutics Inc. (NASDAQ:APVO) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 749,234 shares of the biotechnology company’s stock, valued at approximately $229,000. Armistice Capital LLC owned about 18.36% of Aptevo Therapeutics as of its most recent SEC filing. 8.06% of the stock is owned by institutional investors.

About Aptevo Therapeutics

Aptevo Therapeutics Inc, a clinical-stage research and development biotechnology company, focuses on developing immunotherapeutic candidates for the treatment of various forms of cancer in the United States. It develops its products using ADAPTIR and ADAPTIR-FLEX platforms to generate monospecific, bispecific, and multi-specific antibody candidates capable of enhancing the human immune system against cancer cells.