Apnimed (NASDAQ:APMD) Shares Up 10.3% – Time to Buy?

Apnimed, Inc. (NASDAQ:APMD – Get Free Report) shot up 10.3% during trading on Tuesday . The company traded as high as $29.56 and last traded at $28.27. Approximately 198,924 shares changed hands during trading, a decline of 46% from the average daily volume of 368,761 shares. The stock had previously closed at $25.63.

Analysts Set New Price Targets

Several research analysts have recently weighed in on APMD shares. Cantor Fitzgerald began coverage on shares of Apnimed in a report on Tuesday. They set an “overweight” rating and a $60.00 price objective on the stock. Lifesci Capital began coverage on shares of Apnimed in a report on Tuesday. They issued an “outperform” rating and a $50.00 target price for the company. Wall Street Zen raised shares of Apnimed to a “hold” rating in a research report on Saturday, August 8th. Evercore assumed coverage on shares of Apnimed in a research report on Tuesday. They set an “outperform” rating for the company. Finally, Bank of America initiated coverage on shares of Apnimed in a research note on Tuesday. They set a “buy” rating and a $41.00 price target on the stock. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $50.33.

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Apnimed Trading Up 8.1%

Insider Activity

In other Apnimed news, major shareholder Morningside Venture Investment bought 312,500 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was purchased at an average price of $16.00 per share, with a total value of $5,000,000.00. Following the transaction, the insider owned 7,152,713 shares in the company, valued at $114,443,408. This trade represents a 4.57% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

About Apnimed

(Get Free Report)

Apnimed Inc is a late stage clinical pharmaceutical company dedicated to the discovery, development and commercialization of novel oral therapies which address the neurobiology of sleep-related breathing diseases. Apnimed Inc is based in CAMBRIDGE, Mass.

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