Zacks Investment Research upgraded shares of Aptevo Therapeutics (NASDAQ:APVO) from a hold rating to a buy rating in a research report released on Thursday morning. The firm currently has $1.00 price objective on the biotechnology company’s stock.
According to Zacks, “Aptevo Therapeutics Inc. is a biotechnology company which focused on developing oncology and hematology therapeutics. The company’s platform consists of ADAPTIR(TM). Its product pipeline includes WinRho (R) SDF, HepaGam B (R), VARIZIG(R) and IXINITY (R) which are in pre-clinical stage. Aptevo Therapeutics Inc. is based in Seattle, Washington. “
Other research analysts have also issued reports about the company. Roth Capital set a $12.00 price target on Aptevo Therapeutics and gave the company a buy rating in a research report on Thursday, November 15th. ValuEngine lowered Aptevo Therapeutics from a buy rating to a hold rating in a research report on Thursday, January 24th. Finally, Piper Jaffray Companies dropped their price target on Aptevo Therapeutics from $8.50 to $4.00 and set an overweight rating on the stock in a research report on Wednesday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Aptevo Therapeutics has a consensus rating of Buy and an average price target of $7.75.
A number of hedge funds have recently modified their holdings of APVO. Sessa Capital IM L.P. increased its position in Aptevo Therapeutics by 35.9% in the 3rd quarter. Sessa Capital IM L.P. now owns 706,613 shares of the biotechnology company’s stock worth $3,590,000 after purchasing an additional 186,719 shares during the last quarter. Renaissance Technologies LLC increased its position in Aptevo Therapeutics by 11.1% in the 3rd quarter. Renaissance Technologies LLC now owns 1,277,100 shares of the biotechnology company’s stock worth $6,488,000 after purchasing an additional 127,700 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Aptevo Therapeutics by 5.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,425,567 shares of the biotechnology company’s stock worth $7,242,000 after purchasing an additional 73,911 shares during the last quarter. Clifford Swan Investment Counsel LLC acquired a new position in Aptevo Therapeutics in the 4th quarter worth about $35,000. Finally, Acadian Asset Management LLC increased its position in Aptevo Therapeutics by 4.8% in the 4th quarter. Acadian Asset Management LLC now owns 462,824 shares of the biotechnology company’s stock worth $587,000 after purchasing an additional 21,059 shares during the last quarter. 32.16% of the stock is currently owned by institutional investors.
Aptevo Therapeutics Company 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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