Aptevo Therapeutics Inc [NASDAQ: APVO] closed the trading session at $0.96. The company report on April 11, 2024 at 8:00 AM that Aptevo Therapeutics Announces Pricing of $4.6 Million Public Offering.
Aptevo Therapeutics Inc. (NASDAQ:APVO), a clinical-stage biotechnology company focused on developing novel immune-oncology therapeutics based on its proprietary ADAPTIR™ and ADAPTIR-FLEX™ platform technologies, today announced the pricing of a public offering of (i) 3,400,000 shares of its common stock or pre-funded warrants in lieu thereof and (ii) warrants to purchase up to an aggregate of 6,800,000 shares of its common stock (the “Common Warrants”) at a purchase price of $1.35 per share and associated Common Warrant. Each share of common stock is being offered together with two Common Warrants, each to purchase one share of common stock. The Common Warrants will have an exercise price of $1.35 per share, are exercisable upon issuance, and will expire five years following the date of issuance. The offering is expected to close on or about April 15, 2024, subject to customary closing conditions.
Roth Capital Partners is acting as placement agent of the offering. Dawson James Securities, Inc. is acting as co-agent.
The stocks have a year to date performance of -87.97 percent and weekly performance of -72.15 percent. The stock has been moved at -92.74 percent over the last six months. The stock has performed -76.46 percent around the most recent 30 days and changed -86.93 percent over the most recent 3-months.
If compared to the average trading volume of 140.22K shares, APVO reached to a volume of 4671115 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Aptevo Therapeutics Inc [APVO]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for APVO shares is $10.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on APVO stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Ladenburg Thalmann have made an estimate for Aptevo Therapeutics Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 05, 2018. While these analysts kept the previous recommendation, Piper Jaffray raised their target price to Overweight. The new note on the price target was released on October 05, 2017, representing the official price target for Aptevo Therapeutics Inc stock.
The Average True Range (ATR) for Aptevo Therapeutics Inc is set at 0.85 The Price to Book ratio for the last quarter was 0.03, with the Price to Cash per share for the same quarter was set at 25.22.
APVO stock trade performance evaluation
Aptevo Therapeutics Inc [APVO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -72.15. With this latest performance, APVO shares dropped by -76.46% in over the last four-week period, additionally sinking by -92.74% over the last 6 months – not to mention a drop of -98.84% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for APVO stock in for the last two-week period is set at 21.81, with the RSI for the last a single of trading hit 15.77, and the three-weeks RSI is set at 26.01 for Aptevo Therapeutics Inc [APVO]. The present Moving Average for the last 50 days of trading for this stock 5.44, while it was recorded at 2.79 for the last single week of trading, and 16.39 for the last 200 days.
Aptevo Therapeutics Inc [APVO]: An insightful look at the core fundamentals
Aptevo Therapeutics Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.64 and a Current Ratio set at 2.64.
Earnings per share (EPS) analysis for Aptevo Therapeutics Inc [APVO] stock
With the latest financial reports released by the company, Aptevo Therapeutics Inc posted 17.16/share EPS, while the average EPS was predicted by analysts to be reported at -52.14/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 132.90%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for APVO.
Aptevo Therapeutics Inc [APVO]: Institutional Ownership
The top three institutional holders of APVO stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in APVO stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in APVO stock with ownership which is approximately 5.8386%.
