Apollomics (NASDAQ:APLM) Stock Jumps 1% – Time to Buy?

Apollomics Inc. (NASDAQ:APLM) was up 1% during trading on Monday. The stock traded as high as $23.27 and last traded at $23.50. Approximately 1,164 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 10,279 shares. The stock had previously closed at $23.27.

Analyst Ratings Changes

APLM has been the subject of several research reports. Weiss Ratings raised Apollomics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 17th. Wall Street Zen upgraded shares of Apollomics to a “hold” rating in a research note on Saturday, August 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Apollomics Stock Performance

The business’s 50 day simple moving average is $22.72 and its 200 day simple moving average is $18.48.

Insider Buying and Selling

In related news, CEO Hung-Wen Chen acquired 270,000 shares of the company’s stock in a transaction on Friday, August 14th. The stock was purchased at an average cost of $13.15 per share, for a total transaction of $3,550,500.00. Following the completion of the purchase, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Peter Lin acquired 26,667 shares of the business’s stock in a transaction on Friday, August 14th. The shares were bought at an average cost of $15.00 per share, with a total value of $400,005.00. Following the completion of the acquisition, the chief financial officer owned 48,979 shares of the company’s stock, valued at approximately $734,685. This trade represents a 119.52% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 583,334 shares of company stock worth $8,250,510 in the last 90 days.

Hedge Funds Weigh In On Apollomics

An institutional investor recently bought a new stake in Apollomics stock. Citadel Advisors LLC acquired a new position in shares of Apollomics Inc. (NASDAQ:APLM) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,664 shares of the company’s stock, valued at approximately $224,000. Citadel Advisors LLC owned about 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 is a clinical-stage biopharmaceutical company focused on developing therapies for cancer. The company’s research programs are centered on immuno-oncology and precision medicine, with the goal of using targeted treatments and immune-system-based approaches to address cancers with significant unmet medical needs.

Apollomics is advancing a pipeline of investigational drug candidates designed to target tumor biology and enhance the body’s immune response against cancer cells.