Alambic Investment Management L.P. lessened its holdings in shares of Aptevo Therapeutics Inc (NASDAQ:APVO) by 39.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 70,517 shares of the biotechnology company’s stock after selling 45,910 shares during the quarter. Alambic Investment Management L.P.’s holdings in Aptevo Therapeutics were worth $358,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. bought a new position in Aptevo Therapeutics in the second quarter worth $148,000. Northern Trust Corp raised its holdings in Aptevo Therapeutics by 21.2% in the second quarter. Northern Trust Corp now owns 70,416 shares of the biotechnology company’s stock worth $352,000 after purchasing an additional 12,299 shares in the last quarter. EAM Investors LLC bought a new position in Aptevo Therapeutics in the second quarter worth $552,000. Acadian Asset Management LLC raised its holdings in Aptevo Therapeutics by 79.0% in the second quarter. Acadian Asset Management LLC now owns 367,509 shares of the biotechnology company’s stock worth $1,833,000 after purchasing an additional 162,218 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Aptevo Therapeutics by 53.3% in the second quarter. Renaissance Technologies LLC now owns 1,149,400 shares of the biotechnology company’s stock worth $5,736,000 after purchasing an additional 399,400 shares in the last quarter. Institutional investors own 33.15% of the company’s stock.
Shares of NASDAQ:APVO opened at $2.60 on Monday. Aptevo Therapeutics Inc has a 1-year low of $2.46 and a 1-year high of $6.35. The company has a quick ratio of 3.65, a current ratio of 3.91 and a debt-to-equity ratio of 0.43. The firm has a market cap of $58.99 million, a PE ratio of -1.70 and a beta of 2.27.
APVO has been the subject of a number of research reports. Roth Capital set a $12.00 price objective on Aptevo Therapeutics and gave the stock a “buy” rating in a report on Thursday, November 15th. LADENBURG THALM/SH SH initiated coverage on Aptevo Therapeutics in a report on Monday, November 5th. They issued a “buy” rating and a $14.00 price objective for the company. ValuEngine upgraded Aptevo Therapeutics from a “hold” rating to a “buy” rating in a report on Monday, August 13th. Zacks Investment Research downgraded Aptevo Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, October 15th. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $11.00 price target on shares of Aptevo Therapeutics in a report on Friday, August 10th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $10.69.
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Aptevo Therapeutics Profile
Aptevo Therapeutics Inc, a biotechnology company, engages in the discovery, development, commercialization, and sale of novel oncology and hematology therapeutics in the United States. Its marketed products include IXINITY, which is indicated in adults and children 12 years of age and older with hemophilia B for control and prevention of bleeding episodes, and management of bleeding during operations; and WinRho SDF for the treatment of autoimmune platelet disorders, as well as for the treatment of hemolytic disease of the newborn.
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