Why Is Aptevo Therapeutics Stock (APVO) Up 85% Today?
Aptevo Therapeutics just delivered a seismic shock to the markets—soaring 85% in a single trading session. That's not just a bump; it's a rocket launch that's got everyone from retail traders to institutional sharks circling.
What's fueling this explosive move? Clinical trial results that actually impressed—a rarity in the biotech space where most 'breakthroughs' fizzle faster than a meme coin. The data dropped pre-market, and the buying frenzy hasn't let up since.
Volume tells the real story: trading at 15 times the average, with shorts getting absolutely crushed. This isn't a slow grind—it's a stampede. The kind of move that turns cautious investors into overnight degenerates.
Will it hold? Biotech pumps are notoriously volatile—here today, back to Phase I trials tomorrow. But for now, APVO's rally is the talk of the Street. Just remember: what goes up 85% in a day can retrace just as fast. Welcome to the casino.
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Traders have taken note of this, as Point72 Asset Management, L.P. is owned by billionaire investor Steven Cohen. He founded the hedge fund after his prior endeavor, S.A.C. Capital Advisors, was shut down after an insider trading investigation. Despite these setbacks, Point72 Asset Management, L.P. essentially acts as a continuation of S.A.C. Capital Advisors and has roughly $42.25 billion in assets under management.
Cohen’s interest in Aptevo Therapeutics came after the company’s stock surged earlier this week. That was due to its acute myeloid leukemia (AML) treatment achieving a 100% remission rate in a recent clinical trial. This news could be what sparked Point72 Asset Management, L.P.’s stake in the company.
Aptevo Therapeutics Stock Movement Today
Aptevo Therapeutics stock was up 83.69% in pre-market trading on Thursday, following a 6% drop yesterday. The shares have also decreased 98.35% year-to-date and 98.92% over the past 12 months. Today’s news came with heavy trading of APVO stock, as some 52 million shares changed hands, compared to a three-month daily average of about 170,000 units.
