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

Key Points

• Apollomics shares rose 1% to $23.50 in light trading, with volume down 89% from the average daily level. The stock trades above its 50-day and 200-day moving averages.
• Analyst sentiment remains negative: Apollomics has a consensus “Sell” rating, despite one provider upgrading the stock to “Hold.”
• Company insiders bought 583,334 shares worth approximately $8.25 million over the past 90 days, while institutional investors and hedge funds own 19.13% of the stock.

Apollomics Inc. (NASDAQ:APLM - Get Free Report)'s stock price shot up 1% during trading on Monday. The stock traded as high as $23.27 and last traded at $23.50. 1,164 shares traded 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.

Wall Street Analysts Forecast Growth

APLM has been the topic of a number of recent analyst reports. Weiss Ratings upgraded shares of Apollomics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, September 17th. Wall Street Zen raised shares of Apollomics to a "hold" rating in a report on Saturday, August 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Sell".

Apollomics Stock Performance

The firm has a fifty day moving average price of $22.64 and a 200 day moving average price of $18.46.

Insider Buying and Selling

In related news, COO Yi-Kuei Chen acquired 20,000 shares of the firm's stock in a transaction on Friday, August 14th. The shares were purchased at an average price of $15.00 per share, with a total value of $300,000.00. Following the acquisition, the chief operating officer directly owned 121,248 shares in the company, valued at $1,818,720. The trade was a 19.75% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CFO Peter Lin acquired 26,667 shares of the stock in a transaction on Friday, August 14th. The stock was bought at an average price of $15.00 per share, with a total value of $400,005.00. Following the transaction, the chief financial officer directly owned 48,979 shares in the company, valued at approximately $734,685. This represents a 119.52% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 583,334 shares of company stock worth $8,250,510 in the last 90 days.

Institutional Trading of Apollomics

A hedge fund recently bought a new position in Apollomics stock. Citadel Advisors LLC bought a new position in shares of Apollomics Inc. (NASDAQ:APLM - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 10,664 shares of the company's stock, valued at approximately $224,000. Citadel Advisors LLC owned about 0.48% of Apollomics as of its most recent SEC filing. 19.13% of the stock is currently owned by institutional investors and hedge funds.

Apollomics Company Profile

Apollomics, Inc NASDAQ: APLM is a clinical-stage biopharmaceutical company focused on developing therapies for cancer. The company uses targeted therapeutics and immuno-oncology approaches intended to activate the immune system, improve tumor-cell recognition, and address cancers with limited treatment options.

Apollomics' pipeline includes investigational antibody-based medicines and other oncology candidates designed for use across a range of solid tumors and hematologic malignancies.

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