Apnimed, Inc. (NASDAQ:APMD) Sees Significant Growth in Short Interest

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on APMD shares. Lifesci Capital started coverage on Apnimed in a research note on Tuesday, August 25th. They set an “outperform” rating and a $50.00 price target for the company. Wall Street Zen raised shares of Apnimed to a “hold” rating in a report on Saturday, August 8th. Zacks Research upgraded shares of Apnimed to a “hold” rating in a research report on Wednesday, August 26th. Bank of America started coverage on shares of Apnimed in a research note on Tuesday, August 25th. They issued a “buy” rating and a $41.00 target price for the company. Finally, Cantor Fitzgerald began coverage on shares of Apnimed in a research note on Tuesday, August 25th. They set an “overweight” rating and a $60.00 price target on the stock. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.33.

Insiders Place Their Bets

In related news, major shareholder Morningside Venture Investment bought 312,500 shares of Apnimed stock in a transaction dated Monday, August 3rd. The stock was purchased at an average cost of $16.00 per share, with a total value of $5,000,000.00. Following the transaction, the insider directly owned 7,152,713 shares of the company’s stock, valued at approximately $114,443,408. The trade was a 4.57% 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.

Apnimed Trading Down 11.6%

Shares of NASDAQ APMD opened at $26.25 on Tuesday. Apnimed has a fifty-two week low of $16.12 and a fifty-two week high of $35.29.

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.