Crude Oil Moves Higher; US Weekly Jobless Claims Decline
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 18 2025
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Source: Benzinga
U.S. Stock Market Performance: U.S. stocks saw gains with the S&P 500 up by 0.2%, while the Dow and NASDAQ also rose. Notable stock movements included Ryde Group's shares surging 133% and Aptevo Therapeutics rising 107%, whereas Eyenovia and Plus Therapeutics experienced significant declines.
Economic Indicators: Initial jobless claims in the U.S. fell to 245,000, aligning with market expectations, while housing starts dropped by 9.8% month-over-month. Additionally, U.S. crude oil inventories decreased significantly, contrasting with expectations.
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Analyst Views on APVO
About APVO
Aptevo Therapeutics Inc. is a clinical-stage biotechnology company focused on developing novel bispecific immunotherapies for the treatment of cancer. The Company has two clinical candidates: Mipletamig and ALG.APV-527. Mipletamig is being evaluated in RAINIER, a two-part Phase 1b/2 trial for the treatment of frontline acute myeloid leukemia in combination with standard-of-care venetoclax + azacitidine. Mipletamig has received orphan drug designation for AML according to the Orphan Drug Act. ALG.APV-527, a bispecific conditional 4-1BB agonist, only active upon simultaneous binding to 4-1BB and 5T4, is being co-developed with Alligator Bioscience and is being evaluated in a Phase 1 clinical trial for the treatment of multiple solid tumor types likely to express 5T4. The Company has three pre-clinical candidates with different mechanisms of action designed to target a range of solid tumors. All pipeline candidates are created from two proprietary platforms, ADAPTIR and ADAPTIR-FLEX.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Aptevo (APVO) Implements 1-for-18 Reverse Stock Split, Reducing Shares to 1 Million
- Reverse Stock Split Plan: Aptevo Therapeutics is set to implement a 1-for-18 reverse stock split on December 29, 2025, reducing outstanding shares from approximately 18 million to about 1 million, aimed at increasing the share price to meet Nasdaq listing requirements.
- Market Reaction: Prior to the reverse split, APVO shares traded between $0.50 and $109.8 over the past year, closing at $0.60, down 34.73% from the previous day, indicating market concerns regarding the company's outlook.
- Historical Split Record: This marks Aptevo's second reverse stock split in 2025, following a 1-for-20 split that took effect on May 27, reflecting the company's ongoing efforts in stock price management.
- Shareholder Impact: The reverse split will automatically convert every 18 shares of common stock into 1 share, while the par value remains at $0.001, significantly reducing shareholders' equity and potentially affecting investor confidence and future fundraising capabilities.
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Aptevo Therapeutics Announces 1-for-18 Reverse Stock Split, Shares Plunge 38.4%
- Reverse Stock Split Announcement: Aptevo Therapeutics has announced a 1-for-18 reverse stock split effective December 29, converting every 18 shares into one, which has led to a significant 38.4% drop in share price to $0.57, indicating a negative market reaction despite prior shareholder approval in July.
- Severe Market Reaction: Following the reverse stock split announcement, Aptevo's shares plummeted sharply during Friday's session, reflecting investor concerns about the company's future prospects, which could adversely affect its financing capabilities and market confidence.
- Shareholder Approval Context: The final ratio for the reverse split was approved by the board in mid-December, despite having received shareholder support at the July annual meeting, yet the market's response raises questions about the company's governance and strategic direction.
- Industry Impact: The sharp decline in Aptevo's stock price may affect its competitive position in the biopharmaceutical sector, particularly regarding financing and partnership opportunities, as investors may reassess its investment value.
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