Apnimed (NASDAQ:APMD) Hits New 52-Week High – Here’s Why

Apnimed, Inc. (NASDAQ:APMD) shares hit a new 52-week high during trading on Monday . The stock traded as high as $29.76 and last traded at $27.53, with a volume of 26603 shares traded. The stock had previously closed at $27.00.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Apnimed to a “hold” rating in a research note on Saturday.

Apnimed Price Performance

Insiders Place Their Bets

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

About Apnimed

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.