Aptevo Therapeutics Inc. (NASDAQ:APVO) Sees Significant Drop in Short Interest

Aptevo Therapeutics Inc. (NASDAQ:APVO) was the recipient of a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 38,000 shares, a drop of 94.8% from the November 15th total of 734,600 shares. Based on an average daily trading volume, of 190,900 shares, the short-interest ratio is currently 0.2 days. Approximately 7.6% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. StockNews.com assumed coverage on Aptevo Therapeutics in a research report on Monday. They issued a “sell” rating on the stock. Roth Mkm lowered their price target on Aptevo Therapeutics from $20,535.00 to $10,952.00 and set a “buy” rating on the stock in a report on Monday, September 23rd.

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) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 749,234 shares of the biotechnology company’s stock, valued at approximately $229,000. Armistice Capital LLC owned 18.36% of Aptevo Therapeutics at the end of the most recent quarter. 8.06% of the stock is currently owned by hedge funds and other institutional investors.

Aptevo Therapeutics Price Performance

NASDAQ:APVO traded down $1.54 during mid-day trading on Friday, reaching $4.09. 805,783 shares of the stock were exchanged, compared to its average volume of 131,620. The business has a fifty day moving average price of $289.00 and a 200 day moving average price of $482.52. Aptevo Therapeutics has a 1-year low of $4.09 and a 1-year high of $399.60.

Aptevo Therapeutics Company Profile

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.