Apnimed (NASDAQ:APMD) Trading Down 8.4% – Should You Sell?

Apnimed, Inc. (NASDAQ:APMD – Get Free Report) shares dropped 8.4% on Monday . The company traded as low as $27.00 and last traded at $27.22. Approximately 131,697 shares were traded during trading, a decline of 65% from the average daily volume of 378,380 shares. The stock had previously closed at $29.71.

Analysts Set New Price Targets

APMD has been the topic of several research analyst reports. Bank of America began coverage on shares of Apnimed in a research report on Tuesday, August 25th. They set a “buy” rating and a $41.00 price target on the stock. Zacks Research raised Apnimed to a “hold” rating in a research report on Wednesday, August 26th. Cantor Fitzgerald started coverage on Apnimed in a report on Tuesday, August 25th. They set an “overweight” rating and a $60.00 target price on the stock. Lifesci Capital assumed coverage on Apnimed in a research report on Tuesday, August 25th. They issued an “outperform” rating and a $50.00 target price for the company. Finally, Wall Street Zen upgraded Apnimed to a “hold” rating in a research note on Saturday, August 8th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $50.33.

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Read Our Latest Stock Analysis on APMD

Apnimed Trading Down 10.7%

Insider Activity

In other Apnimed news, major shareholder Morningside Venture Investment purchased 312,500 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was bought at an average cost of $16.00 per share, with a total value of $5,000,000.00. Following the transaction, the insider directly owned 7,152,713 shares in the company, valued at approximately $114,443,408. The trade was a 4.57% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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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