StockNews.com Initiates Coverage on Aptevo Therapeutics (NASDAQ:APVO)

StockNews.com assumed coverage on shares of Aptevo Therapeutics (NASDAQ:APVO) in a research report report published on Friday. The brokerage issued a sell rating on the biotechnology company’s stock.

Separately, Roth Mkm dropped their price target on shares of Aptevo Therapeutics from $15.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, September 23rd.

Aptevo Therapeutics Price Performance

Shares of APVO opened at $0.21 on Friday. The company’s 50-day simple moving average is $0.23 and its 200-day simple moving average is $0.44. Aptevo Therapeutics has a 1 year low of $0.14 and a 1 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 purchased a new position in shares of Aptevo Therapeutics Inc. (NASDAQ:APVO) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 749,234 shares of the biotechnology company’s stock, valued at approximately $229,000. Armistice Capital LLC owned approximately 18.36% of Aptevo Therapeutics as of its most recent SEC filing. 8.06% of the stock is currently owned by hedge funds and other 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.