Apollomics (NASDAQ:APLM) Stock Price Up 3.1% - Should You Buy?

Key Points

• Apollomics shares rose 3.1% to about $23.92, although trading volume was exceptionally light at 502 shares—95% below the average daily volume.
• Analyst sentiment remains negative: Apollomics has a consensus “Sell” rating, despite Wall Street Zen upgrading the stock to “Hold.”
• Company insiders showed strong buying interest, purchasing 583,334 shares worth approximately $8.25 million over the past 90 days, including significant purchases by the CEO and COO.

Shares of Apollomics Inc. (NASDAQ:APLM - Get Free Report) were up 3.1% on Monday . The company traded as high as $23.18 and last traded at $23.9180. 502 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 10,873 shares. The stock had previously closed at $23.20.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on APLM shares. Wall Street Zen upgraded Apollomics to a "hold" rating in a report on Saturday, August 22nd. Weiss Ratings cut Apollomics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, September 1st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Apollomics currently has a consensus rating of "Sell".

Apollomics Stock Performance

The stock has a 50 day moving average price of $21.26 and a 200 day moving average price of $18.13.

Insider Buying and Selling

In related news, COO Yi-Kuei Chen bought 20,000 shares of Apollomics stock in a transaction dated Friday, August 14th. The stock was purchased at an average cost of $15.00 per share, with a total value of $300,000.00. Following the transaction, the chief operating officer directly owned 121,248 shares of the company's stock, valued at approximately $1,818,720. The trade was a 19.75% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hung-Wen Chen bought 266,667 shares of Apollomics stock in a transaction dated Friday, August 14th. The shares were bought at an average cost of $15.00 per share, with a total value of $4,000,005.00. Following the completion of the transaction, the chief executive officer directly owned 1,029,695 shares in the company, valued at approximately $15,445,425. This trade represents a 34.95% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders purchased 583,334 shares of company stock worth $8,250,510.

Hedge Funds Weigh In On Apollomics

An institutional investor recently bought a new position in Apollomics stock. Citadel Advisors LLC bought a new stake in 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 fund bought 10,664 shares of the company's stock, valued at approximately $224,000. Citadel Advisors LLC owned 0.48% of Apollomics at the end of the most recent reporting period. Institutional investors and hedge funds own 19.13% of the company's stock.

About Apollomics

Apollomics, Inc, a clinical-stage biopharmaceutical company based in Palo Alto, California, focuses on the development of innovative targeted therapies and immuno-oncology agents for the treatment of cancer. The company's research and development efforts center on small molecule inhibitors and monoclonal antibodies designed to address key pathways involved in tumor growth and immune evasion. Its lead asset, dalpiciclib (formerly SHP654), is a selective oral CDK4/6 inhibitor in Phase III trials for metastatic breast cancer, and Apollomics holds a number of additional early-stage programs targeting solid tumors and hematologic malignancies.

Founded in 2015, Apollomics has established research and clinical collaboration networks across North America, China and Europe.

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