Apnimed (NASDAQ:APMD) Shares Down 6.6% – Should You Sell?

Apnimed, Inc. (NASDAQ:APMD) was down 6.6% during trading on Thursday . The stock traded as low as $29.25 and last traded at $29.92. Approximately 171,197 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 381,297 shares. The stock had previously closed at $32.03.

Wall Street Analyst Weigh In

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

Apnimed Trading Down 5.5%

Insider Buying and Selling

In other Apnimed news, major shareholder Morningside Venture Investment bought 312,500 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was acquired at an average price of $16.00 per share, for a total transaction of $5,000,000.00. Following the completion of the transaction, the insider directly owned 7,152,713 shares of the company’s stock, valued at approximately $114,443,408. This represents a 4.57% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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.