Apollomics (NASDAQ:APLM) Shares Down 0.6% - What's Next?

Key Points

• Apollomics shares slipped 0.6% to about $19.78 in midday trading, below the 50-day moving average of $23.49 but above the 200-day average of $19.04.
• Analyst sentiment remains negative: Apollomics has a consensus rating of “Sell”, although Wall Street Zen recently upgraded the stock to “Hold.”
• Company insiders bought 583,334 shares worth approximately $8.25 million over the past 90 days, while Citadel Advisors established a new position; institutional investors own 19.13% of the company.

Apollomics Inc. (NASDAQ:APLM - Get Free Report) was down 0.6% on Tuesday. The company traded as low as $19.88 and last traded at $19.7810. Approximately 91,520 shares were traded during mid-day trading, The stock had previously closed at $19.90.

Analysts Set New Price Targets

A number of research firms recently issued reports on APLM. 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 Apollomics to a "hold" rating in a research note on Saturday, August 22nd. One analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, Apollomics currently has a consensus rating of "Sell".

Apollomics Stock Down 0.6%

The business has a fifty day moving average of $23.49 and a 200 day moving average of $19.04.

Insiders Place Their Bets

In other Apollomics news, CFO Peter Lin purchased 26,667 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 $400,005.00. Following the purchase, the chief financial officer directly owned 48,979 shares in the company, valued at $734,685. This trade represents a 119.52% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Hung-Wen Chen purchased 266,667 shares of the business's stock in a transaction dated Friday, August 14th. The shares were acquired at an average price of $15.00 per share, for a total transaction of $4,000,005.00. Following the acquisition, the chief executive officer directly owned 1,029,695 shares in the company, valued at $15,445,425. This represents a 34.95% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 583,334 shares of company stock valued at $8,250,510 over the last ninety days.

Hedge Funds Weigh In On Apollomics

A hedge fund recently bought a new stake in Apollomics stock. Citadel Advisors LLC bought a new stake in shares of Apollomics Inc. (NASDAQ:APLM - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 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 reporting period. Hedge funds and other institutional investors own 19.13% of the company's stock.

Apollomics Company Profile

Apollomics, Inc NASDAQ: APLM is a clinical-stage biopharmaceutical company focused on developing medicines for the treatment of cancer. Its research programs are centered on immuno-oncology and precision oncology, with the goal of combining therapies that activate the immune system with treatments designed to target specific characteristics of tumors.

The company's pipeline includes investigational small-molecule and antibody-based therapies intended for use across a range of solid tumors and blood cancers.

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