Apnimed (NASDAQ:APMD) Reaches New 12-Month High – Should You Buy?

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

Analyst Ratings Changes

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

Apnimed Stock Performance

Insider Buying and Selling

In other news, major shareholder Morningside Venture Investment purchased 312,500 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was 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 in the company, valued at $114,443,408. This represents a 4.57% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed 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.