Apollomics (NASDAQ:APLM) Stock Price Up 3.1% – Here’s What Happened

Shares of Apollomics Inc. (NASDAQ:APLM) were up 3.1% on Monday . The company traded as high as $23.18 and last traded at $23.9180. 502 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 10,873 shares. The stock had previously closed at $23.20.

Analysts Set New Price Targets

APLM has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Apollomics to a “hold” rating in a research report on Saturday, August 22nd. Weiss Ratings downgraded shares of Apollomics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, September 1st. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

Apollomics Trading Down 3.8%

The business has a fifty day moving average price of $21.34 and a 200 day moving average price of $18.15.

Insider Activity at Apollomics

In related news, COO Yi-Kuei Chen acquired 20,000 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were bought at an average price of $15.00 per share, for a total transaction of $300,000.00. Following the acquisition, the chief operating officer owned 121,248 shares in the company, valued at $1,818,720. This trade represents a 19.75% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hung-Wen Chen acquired 270,000 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were bought at an average cost of $13.15 per share, with a total value of $3,550,500.00. Following the transaction, the chief executive officer directly owned 418,334 shares of the company’s stock, valued at $5,501,092.10. The trade was a 182.02% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 583,334 shares of company stock worth $8,250,510 in the last ninety days.

Hedge Funds Weigh In On Apollomics

An institutional investor recently bought a new position in Apollomics stock. Citadel Advisors LLC acquired a new position in shares of Apollomics Inc. (NASDAQ:APLM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 10,664 shares of the company’s stock, valued at approximately $224,000. Citadel Advisors LLC owned approximately 0.48% of Apollomics at the end of the most recent quarter. Institutional investors and hedge funds own 19.13% of the company’s stock.

Apollomics Company Profile

Apollomics, Inc, a clinical-stage biopharmaceutical company based in Palo Alto, California, focuses on the development of innovative targeted therapies and immuno-oncology agents for the treatment of cancer. The company’s research and development efforts center on small molecule inhibitors and monoclonal antibodies designed to address key pathways involved in tumor growth and immune evasion. Its lead asset, dalpiciclib (formerly SHP654), is a selective oral CDK4/6 inhibitor in Phase III trials for metastatic breast cancer, and Apollomics holds a number of additional early-stage programs targeting solid tumors and hematologic malignancies.

Founded in 2015, Apollomics has established research and clinical collaboration networks across North America, China and Europe.