Healthcare Stock Soars on Cancer Treatment Update

The security had been previously trending lower

Deputy Editor
Nov 23, 2021 at 10:50 AM
facebook twitter linkedin

The shares of Aptevo Therapeutics Inc (NASDAQ:APVO) are soaring today, up 35% to trade at $8.75 at last check, after the biotech concern announced that one high-risk cancer patient had a complete remission after being treated with its experimental drug, APVO436, combined with chemotherapy. The preliminary data is from an early-stage extension study in patients with acute myeloid leukemia. 

APVO has been steadily dropping on the charts this month, after the stock was rejected by overhead pressure from the 100-day moving average, just above the $18 level. Fresh off its second-straight week of losses, todays' bull gap has Aptevo stock recovering a small portion of that monthly deficit. Year-to-date, the equity is still down 76.6%. 

The two firms covering APVO carry a "buy" rating. Plus, the 12-month consensus price target of $36 is a whopping 316.7% premium to current levels. 




Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

Schaeffer's Daily Bulletin Offer


Special Offers from Schaeffer's Trading Partners