Aptevo Therapeutics Inc. (NASDAQ:APVO) Sees Large Growth in Short Interest

Aptevo Therapeutics Inc. (NASDAQ:APVO) saw a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 668,300 shares, an increase of 91.7% from the June 30th total of 348,700 shares. Based on an average daily volume of 6,240,000 shares, the days-to-cover ratio is presently 0.1 days.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Aptevo Therapeutics in a report on Thursday. They set a “sell” rating for the company.

Aptevo Therapeutics Stock Performance

Shares of NASDAQ:APVO opened at $0.41 on Friday. The stock has a 50 day moving average of $0.56 and a 200 day moving average of $3.08. Aptevo Therapeutics has a 12-month low of $0.28 and a 12-month high of $48.40.

Aptevo Therapeutics (NASDAQ:APVO) last posted its quarterly earnings results on Wednesday, May 8th. The biotechnology company reported ($9.95) earnings per share for the quarter, topping analysts’ consensus estimates of ($14.10) by $4.15. As a group, research analysts expect that Aptevo Therapeutics will post -8.86 earnings per share for the current year.

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.