Aptevo soars after billionaire investor discloses stake

Aptevo Therapeutics

18/09/2025 11:56

** Shares of drug developer Aptevo Therapeutics APVO.O rise 84% to $2.60 premarket

** On Wednesday, co in a filing said that hedge fund billionaire Steven Cohen's firm has taken a 9.1% stake in APVO

** Point72 Asset Management, founded by Cohen in 2014, now holds 299,944 shares of Aptevo

** The firm has shared voting and dispositive power over the shares

** On Tuesday, APVO said its experimental cancer therapy led to 100% remission in an early-to-mid stage trial

** As of last close, stock down 98% YTD

 (Reporting by Kamal Choudhury in Bengaluru)

 ((Kamal.Choudhury@thomsonreuters.com;))