Aptose Biosciences (NASDAQ:APTO) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Aptose Biosciences (NASDAQ:APTO) (TSE:APS) from a buy rating to a hold rating in a research report sent to investors on Monday morning, Zacks.com reports.

According to Zacks, “Aptose Biosciences Inc. is a clinical-stage biotechnology company. The company is advancing therapeutics to treat life-threatening cancers, such as acute myeloid leukemia, high-risk myelodysplastic syndromes and other hematologic malignancies. Its lead program APTO-253 has completed a Phase 1 study in patients with solid tumors. Aptose Biosciences Inc., formerly known as Lorus Therapeutics Inc., is headquartered in Toronto, Canada. “

A number of other analysts have also recently commented on APTO. HC Wainwright lifted their price objective on Aptose Biosciences from $6.00 to $9.00 and gave the stock a buy rating in a research report on Thursday, February 6th. BidaskClub upgraded Aptose Biosciences from a buy rating to a strong-buy rating in a report on Tuesday, February 4th. ValuEngine upgraded shares of Aptose Biosciences from a sell rating to a hold rating in a report on Tuesday, December 10th. Finally, Piper Sandler initiated coverage on Aptose Biosciences in a research report on Thursday, January 9th. They issued an overweight rating and a $10.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and an average price target of $8.06.

APTO stock opened at $7.90 on Monday. The company’s 50-day moving average price is $6.19 and its 200 day moving average price is $3.49. The company has a market cap of $583.00 million, a P/E ratio of -14.11 and a beta of 1.94. The company has a current ratio of 7.83, a quick ratio of 7.83 and a debt-to-equity ratio of 0.04. Aptose Biosciences has a 52 week low of $1.57 and a 52 week high of $7.94.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Man Group plc increased its stake in shares of Aptose Biosciences by 8.6% during the 3rd quarter. Man Group plc now owns 1,609,424 shares of the biotechnology company’s stock worth $3,356,000 after purchasing an additional 127,836 shares during the last quarter. Ikarian Capital LLC bought a new stake in Aptose Biosciences in the 4th quarter valued at about $5,725,000. Driehaus Capital Management LLC purchased a new stake in Aptose Biosciences during the fourth quarter valued at about $5,508,000. P.A.W. Capital Corp lifted its holdings in Aptose Biosciences by 36.0% during the fourth quarter. P.A.W. Capital Corp now owns 680,000 shares of the biotechnology company’s stock valued at $3,856,000 after purchasing an additional 180,000 shares during the last quarter. Finally, Morgan Stanley boosted its position in Aptose Biosciences by 20.7% during the second quarter. Morgan Stanley now owns 315,521 shares of the biotechnology company’s stock worth $824,000 after purchasing an additional 54,200 shares during the period. 18.85% of the stock is owned by institutional investors and hedge funds.

Aptose Biosciences Company Profile

Aptose Biosciences Inc, a clinical-stage biotechnology company, discovers and develops personalized therapies addressing unmet medical needs in oncology in Canada. Its lead clinical program is APTO-253, which is a Phase I clinical trial for the treatment of patients with relapsed or refractory hematologic malignancies.

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