Apnimed (NASDAQ:APMD) Stock Price Down 6.1% – Here’s What Happened

Apnimed, Inc. (NASDAQ:APMD) shares were down 6.1% on Tuesday . The company traded as low as $26.24 and last traded at $26.24. Approximately 86,793 shares changed hands during trading, a decline of 75% from the average session volume of 340,520 shares. The stock had previously closed at $27.94.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Apnimed to a “hold” rating in a research note on Saturday.

Apnimed Trading Down 5.7%

Insider Buying and Selling

In other Apnimed news, major shareholder Morningside Venture Investment bought 312,500 shares of the stock in a transaction on Monday, August 3rd. The shares were purchased at an average cost of $16.00 per share, with a total value of $5,000,000.00. Following the completion of the transaction, the insider directly owned 7,152,713 shares of the company’s stock, valued at $114,443,408. This represents a 4.57% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Apnimed Company Profile

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.