Apnimed, Inc. (NASDAQ:APMD) Short Interest Up ∞ in August

Apnimed, Inc. (NASDAQ:APMD) was the recipient of a large growth in short interest in the month of August. As of August 14th, there was short interest totaling 407,565 shares, a growth of ∞ from the July 30th total of 0 shares. Approximately 1.5% of the shares of the stock are sold short. Based on an average daily volume of 411,465 shares, the short-interest ratio is currently 1.0 days.

Insider Buying and Selling at Apnimed

In other news, major shareholder Morningside Venture Investment bought 312,500 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were bought at an average price of $16.00 per share, for a total transaction of $5,000,000.00. Following the purchase, the insider owned 7,152,713 shares in the company, valued at $114,443,408. This represents a 4.57% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

Apnimed Trading Down 4.1%

APMD opened at $28.50 on Monday. Apnimed has a fifty-two week low of $16.12 and a fifty-two week high of $35.29.

Wall Street Analysts Forecast Growth

APMD has been the topic of a number of recent analyst reports. Cantor Fitzgerald started coverage on Apnimed in a report on Tuesday, August 25th. They set an “overweight” rating and a $60.00 price target on the stock. Lifesci Capital started coverage on Apnimed in a research note on Tuesday, August 25th. They issued an “outperform” rating and a $50.00 price objective for the company. Bank of America began coverage on Apnimed in a research report on Tuesday, August 25th. They set a “buy” rating and a $41.00 target price for the company. Zacks Research raised Apnimed to a “hold” rating in a research note on Wednesday, August 26th. Finally, Evercore began coverage on Apnimed in a report on Tuesday, August 25th. They issued an “outperform” rating on the stock. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Apnimed presently has a consensus rating of “Moderate Buy” and an average price target of $50.33.

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.