Aptevo Therapeutics (NASDAQ:APVO) Releases Quarterly Earnings Results, Misses Estimates By $0.40 EPS

Aptevo Therapeutics (NASDAQ:APVOGet Rating) released its quarterly earnings results on Thursday. The biotechnology company reported ($1.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.15) by ($0.40), Fidelity Earnings reports. Aptevo Therapeutics had a negative net margin of 231.51% and a negative return on equity of 357.62%.

Shares of APVO stock opened at $4.60 on Friday. The firm’s 50 day moving average price is $4.96 and its two-hundred day moving average price is $7.18. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 3.05. Aptevo Therapeutics has a 52-week low of $3.45 and a 52-week high of $31.76.

APVO has been the subject of a number of research reports. StockNews.com lowered Aptevo Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday. Piper Sandler decreased their price target on shares of Aptevo Therapeutics from $69.00 to $20.00 in a research note on Friday. Finally, Zacks Investment Research upgraded shares of Aptevo Therapeutics from a “hold” rating to a “buy” rating and set a $6.75 price objective for the company in a research report on Tuesday, March 29th.

Hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in Aptevo Therapeutics by 2.6% during the third quarter. Geode Capital Management LLC now owns 39,924 shares of the biotechnology company’s stock worth $616,000 after acquiring an additional 1,007 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Aptevo Therapeutics by 31.9% during the 3rd quarter. Morgan Stanley now owns 11,028 shares of the biotechnology company’s stock valued at $170,000 after purchasing an additional 2,664 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Aptevo Therapeutics by 7.3% in the 1st quarter. Vanguard Group Inc. now owns 240,819 shares of the biotechnology company’s stock valued at $1,414,000 after purchasing an additional 16,337 shares during the period. Bank of New York Mellon Corp bought a new stake in Aptevo Therapeutics during the 1st quarter worth approximately $152,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in Aptevo Therapeutics during the 4th quarter worth approximately $1,233,000. 33.64% of the stock is currently owned by institutional investors.

Aptevo Therapeutics Company Profile (Get Rating)

Aptevo Therapeutics Inc, a clinical-stage biotechnology company, focuses on developing immunotherapeutic candidates for the treatment of various forms of cancer in the United States. Its lead clinical candidate is APVO436, a bispecific T-cell engaging antibody candidate that is in Phase 1b clinical trial for acute myelogenous leukemia and myelodysplastic syndrome.

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Earnings History for Aptevo Therapeutics (NASDAQ:APVO)

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