Apollomics Inc. (NASDAQ:APLM) Sees Large Decline in Short Interest

Apollomics Inc. (NASDAQ:APLM) was the target of a large drop in short interest during the month of May. As of May 29th, there was short interest totaling 1,592 shares, a drop of 51.2% from the May 14th total of 3,260 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average trading volume of 10,971 shares, the days-to-cover ratio is presently 0.1 days.

Apollomics Price Performance

NASDAQ:APLM traded down $0.56 during trading hours on Monday, hitting $13.75. 1,036 shares of the stock traded hands, compared to its average volume of 10,568. Apollomics has a 1 year low of $3.66 and a 1 year high of $42.12. The stock has a 50 day moving average price of $14.27 and a 200 day moving average price of $17.17.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Apollomics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Apollomics currently has an average rating of “Sell”.

Hedge Funds Weigh In On Apollomics

A hedge fund recently bought a new stake in Apollomics stock. Kestra Advisory Services LLC purchased a new stake in shares of Apollomics Inc. (NASDAQ:APLM) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,380 shares of the company’s stock, valued at approximately $82,000. Kestra Advisory Services LLC owned approximately 0.40% 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.