Short Interest in Apnimed, Inc. (NASDAQ:APMD) Grows By ∞

Apnimed, Inc. (NASDAQ:APMD) was the recipient of a large increase in short interest during the month of August. As of August 14th, there was short interest totaling 407,565 shares, an increase of ∞ from the July 30th total of 0 shares. Based on an average daily trading volume, of 411,465 shares, the short-interest ratio is currently 1.0 days. Approximately 1.5% of the company’s shares are short sold.

Insider Transactions at Apnimed

In related news, major shareholder Morningside Venture Investment acquired 312,500 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was bought at an average price of $16.00 per share, with a total value of $5,000,000.00. Following the purchase, the insider directly owned 7,152,713 shares in the company, valued at $114,443,408. The trade was a 4.57% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Apnimed Stock Performance

NASDAQ:APMD opened at $29.71 on Friday. Apnimed has a 12 month low of $16.12 and a 12 month high of $35.29.

Analyst Ratings Changes

Several brokerages recently commented on APMD. Wall Street Zen raised shares of Apnimed to a “hold” rating in a research report on Saturday, August 8th. Zacks Research raised Apnimed to a “hold” rating in a research report on Wednesday. Bank of America assumed coverage on Apnimed in a research note on Tuesday, August 25th. They set a “buy” rating and a $41.00 price target for the company. Lifesci Capital assumed coverage on Apnimed in a research note on Tuesday, August 25th. They issued an “outperform” rating and a $50.00 price objective on the stock. Finally, Cantor Fitzgerald initiated coverage on Apnimed in a report on Tuesday, August 25th. They set an “overweight” rating and a $60.00 target price for the company. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $50.33.

Apnimed Company Profile

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.