Apnimed (NASDAQ:APMD) Sets New 12-Month High – Still a Buy?

Shares of Apnimed, Inc. (NASDAQ:APMD) reached a new 52-week high on Monday . The stock traded as high as $29.76 and last traded at $27.53, with a volume of 26603 shares traded. The stock had previously closed at $27.00.

Analysts Set New Price Targets

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

Apnimed Stock Down 0.7%

Insider Activity at Apnimed

In other Apnimed news, major shareholder Morningside Venture Investment purchased 312,500 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were acquired at an average cost of $16.00 per share, for a total transaction of $5,000,000.00. Following the completion of the purchase, the insider 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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.