Aptevo Therapeutics (APVO) Trading Up 12.2% on Insider Buying Activity
Aptevo Therapeutics Inc (NASDAQ:APVO)’s share price was up 12.2% on Monday following insider buying activity. The stock traded as high as $4.50 and last traded at $4.23. Approximately 985,600 shares traded hands during trading, an increase of 187% from the average daily volume of 342,962 shares. The stock had previously closed at $3.77.
Specifically, VP Randy Joe Maddux acquired 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were acquired at an average price of $2.76 per share, with a total value of $69,000.00. Following the purchase, the vice president now owns 25,000 shares of the company’s stock, valued at approximately $69,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 15.60% of the company’s stock.
Several analysts recently commented on APVO shares. ValuEngine raised Aptevo Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, October 12th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $6.00 price objective on shares of Aptevo Therapeutics in a research note on Thursday, October 5th.
Institutional investors have recently modified their holdings of the stock. Precept Management LLC bought a new position in Aptevo Therapeutics during the 2nd quarter worth about $1,210,000. Dimensional Fund Advisors LP increased its holdings in Aptevo Therapeutics by 8.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,056,729 shares of the biotechnology company’s stock worth $2,187,000 after purchasing an additional 78,109 shares in the last quarter. Legal & General Group Plc increased its holdings in Aptevo Therapeutics by 11,751.3% during the 2nd quarter. Legal & General Group Plc now owns 393,701 shares of the biotechnology company’s stock worth $815,000 after purchasing an additional 390,379 shares in the last quarter. Finally, Spark Investment Management LLC increased its holdings in Aptevo Therapeutics by 167.4% during the 2nd quarter. Spark Investment Management LLC now owns 61,500 shares of the biotechnology company’s stock worth $127,000 after purchasing an additional 38,500 shares in the last quarter. 32.22% of the stock is currently owned by institutional investors and hedge funds.
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About Aptevo Therapeutics
Aptevo Therapeutics Inc is a biotechnology company. The Company is focused on oncology and hematology therapeutics. The Company is engaged in the discovery, development, commercialization and sale of oncology and hematology therapeutics. The Company’s technology is the ADAPTIR (modular protein technology) platform.
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