Aptevo Therapeutics Stock Set to Reverse Split on Tuesday, December 30th (NASDAQ:APVO)

Shares of Aptevo Therapeutics Inc. (NASDAQ:APVO) are scheduled to reverse split on the morning of Tuesday, December 30th. The 1-18 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Monday, December 29th.

Aptevo Therapeutics Stock Down 34.7%

Shares of Aptevo Therapeutics stock traded down $0.32 during trading hours on Friday, hitting $0.61. 14,545,851 shares of the company’s stock traded hands, compared to its average volume of 2,281,441. Aptevo Therapeutics has a twelve month low of $0.50 and a twelve month high of $109.80. The company has a market cap of $10.23 million, a PE ratio of -0.01 and a beta of 1.41. The stock has a 50 day simple moving average of $1.30 and a 200-day simple moving average of $2.02.

Aptevo Therapeutics (NASDAQ:APVO) last released its earnings results on Thursday, November 6th. The biotechnology company reported ($2.23) EPS for the quarter, missing the consensus estimate of ($2.09) by ($0.14). As a group, equities research analysts predict that Aptevo Therapeutics will post -15.84 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Zacks Research upgraded shares of Aptevo Therapeutics to a “hold” rating in a research report on Thursday, September 18th. Weiss Ratings restated a “sell (e)” rating on shares of Aptevo Therapeutics in a research report on Monday. Finally, Roth Capital upgraded shares of Aptevo Therapeutics to a “strong-buy” rating in a research note on Tuesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Aptevo Therapeutics has a consensus rating of “Hold”.

Institutional Investors Weigh In On Aptevo Therapeutics

A hedge fund recently bought a new stake in Aptevo Therapeutics stock. Virtu Financial LLC purchased a new position in Aptevo Therapeutics Inc. (NASDAQ:APVO) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 38,282 shares of the biotechnology company’s stock, valued at approximately $56,000. Virtu Financial LLC owned about 1.16% of Aptevo Therapeutics at the end of the most recent quarter. 8.06% of the stock is owned by hedge funds and other institutional investors.

Aptevo Therapeutics Company Profile

Aptevo Therapeutics, Inc is a clinical-stage biopharmaceutical company headquartered in Seattle, Washington, focused on the discovery and development of novel immunotherapies for oncology and autoimmune diseases. Founded in 2012 as a spin-off from Emergent BioSolutions, the company builds on expertise in protein engineering and translational research to create targeted biologics that engage the body’s immune system.

The company’s core technologies include the ADAPTIR platform, which enables the design of bispecific and multispecific protein scaffolds with customizable binding domains, and the KNOCKOUT platform, which incorporates non-natural amino acids to enhance therapeutic properties such as stability and half-life.