Apnimed (NASDAQ:APMD) Reaches New 52-Week High – Should You Buy?

Apnimed, Inc. (NASDAQ:APMD) hit a new 52-week high during trading on Monday . The company traded as high as $33.62 and last traded at $31.51, with a volume of 47492 shares trading hands. The stock had previously closed at $31.75.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Apnimed to a “hold” rating in a research report on Saturday, August 8th.

Apnimed Stock Up 2.5%

Insider Activity

In related news, major shareholder Morningside Venture Investment bought 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, with a total value of $5,000,000.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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.