Apnimed (NASDAQ:APMD) Trading Down 6.6% – Time to Sell?

Apnimed, Inc. (NASDAQ:APMD)’s stock price was down 6.6% on Thursday . The company traded as low as $29.25 and last traded at $29.92. Approximately 171,197 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 381,297 shares. The stock had previously closed at $32.03.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Apnimed to a “hold” rating in a report on Saturday, August 8th.

Apnimed Price Performance

Insider Buying and Selling

In other news, major shareholder Morningside Venture Investment acquired 312,500 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was purchased at an average cost of $16.00 per share, with a total value of $5,000,000.00. Following the acquisition, the insider 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 document filed with the Securities & Exchange Commission, which is available at this link.

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.