Apollo Endosurgery (NASDAQ:APEN) Shares Gap Up to $2.78

Apollo Endosurgery, Inc. (NASDAQ:APEN)’s share price gapped up prior to trading on Monday . The stock had previously closed at $2.78, but opened at $3.17. Apollo Endosurgery shares last traded at $3.43, with a volume of 988 shares changing hands.

Several equities analysts recently commented on APEN shares. Piper Sandler raised shares of Apollo Endosurgery from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $2.00 to $5.00 in a research report on Monday. Zacks Investment Research raised shares of Apollo Endosurgery from a “hold” rating to a “buy” rating and set a $3.00 price target for the company in a research report on Tuesday, November 24th.

The company has a current ratio of 3.07, a quick ratio of 2.54 and a debt-to-equity ratio of 4.69. The company has a market capitalization of $71.68 million, a PE ratio of -2.24 and a beta of 0.78. The business’s 50-day simple moving average is $2.01 and its 200-day simple moving average is $1.74.

Apollo Endosurgery (NASDAQ:APEN) last posted its quarterly earnings results on Tuesday, November 10th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.10. Apollo Endosurgery had a negative net margin of 63.88% and a negative return on equity of 565.93%. Sell-side analysts forecast that Apollo Endosurgery, Inc. will post -0.98 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gagnon Advisors LLC raised its stake in shares of Apollo Endosurgery by 76.9% during the 3rd quarter. Gagnon Advisors LLC now owns 919,846 shares of the biotechnology company’s stock worth $1,555,000 after purchasing an additional 400,000 shares in the last quarter. University of Texas Texas AM Investment Managment Co. grew its holdings in Apollo Endosurgery by 1,688.6% during the second quarter. University of Texas Texas AM Investment Managment Co. now owns 279,037 shares of the biotechnology company’s stock worth $456,000 after purchasing an additional 263,436 shares during the period. Goldman Sachs Group Inc. grew its holdings in Apollo Endosurgery by 100.0% during the second quarter. Goldman Sachs Group Inc. now owns 307,940 shares of the biotechnology company’s stock worth $503,000 after purchasing an additional 153,970 shares during the period. Gagnon Securities LLC grew its holdings in Apollo Endosurgery by 9.5% during the third quarter. Gagnon Securities LLC now owns 1,043,082 shares of the biotechnology company’s stock worth $1,763,000 after purchasing an additional 90,405 shares during the period. Finally, Nantahala Capital Management LLC grew its holdings in Apollo Endosurgery by 3.5% during the third quarter. Nantahala Capital Management LLC now owns 1,913,972 shares of the biotechnology company’s stock worth $3,235,000 after purchasing an additional 65,300 shares during the period. 28.61% of the stock is owned by hedge funds and other institutional investors.

About Apollo Endosurgery (NASDAQ:APEN)

Apollo Endosurgery, Inc, a medical technology company, focuses on the design, development, and commercialization of medical devices. The company offers OverStitch and OverStitch Sx Endoscopic Suturing Systems that enable advanced endoscopic procedures by allowing physicians to place full thickness sutures and secure the approximation of tissue through a flexible endoscope.

See Also: What is an investor looking for in an SEC filing?

Receive News & Ratings for Apollo Endosurgery Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apollo Endosurgery and related companies with MarketBeat.com's FREE daily email newsletter.