Why Aptevo Therapeutics Stock Is Cratering
Portfolio Pulse from Erica Kollmann
Aptevo Therapeutics Inc. (NASDAQ:APVO) shares plummeted after announcing a $4.6 million public offering priced at $1.35 per share, significantly below its 200-day moving average of $16.38. The offering includes 3.4 million shares or pre-funded warrants and warrants for up to 6.8 million shares. Trading volume surged to over 3.8 million shares, far exceeding the 100-day average of 138,000 shares. The stock's current price of $0.98 represents a more than 59% decline.
April 11, 2024 | 7:06 pm
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Aptevo Therapeutics Inc. announced a $4.6 million public offering at $1.35 per share, causing a significant drop in its stock price to $0.98, a decline of over 59%.
The pricing of Aptevo's public offering significantly below its recent trading range and its 200-day moving average has led to a sharp decline in its stock price. The high trading volume indicates strong market reaction. Given the substantial drop and the context of the offering, it's likely that the stock will face short-term pressure.
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IMPORTANCE 100
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