Apnimed (NASDAQ:APMD) Trading Down 6.1% – Time to Sell?

Apnimed, Inc. (NASDAQ:APMD) shares traded down 6.1% during trading on Tuesday . The stock traded as low as $26.24 and last traded at $26.24. 86,793 shares changed hands during mid-day trading, a decline of 75% from the average daily 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 report on Saturday, August 8th.

Apnimed Stock Up 7.2%

Insider Buying and Selling

In related 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 bought at an average cost of $16.00 per share, with a total value of $5,000,000.00. Following the acquisition, the insider owned 7,152,713 shares of the company’s stock, valued at $114,443,408. This trade represents a 4.57% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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.