Apollomics (NASDAQ:APLM) Stock Price Up 3.1% – Should You Buy?

Apollomics Inc. (NASDAQ:APLM) shares were up 3.1% on Monday . The stock traded as high as $23.18 and last traded at $23.9180. Approximately 502 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 10,873 shares. The stock had previously closed at $23.20.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on APLM shares. Wall Street Zen raised shares of Apollomics to a “hold” rating in a report on Saturday, August 22nd. Weiss Ratings downgraded shares of Apollomics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, September 1st. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Apollomics currently has a consensus rating of “Sell”.

Apollomics Price Performance

The business’s 50-day moving average price is $21.26 and its 200 day moving average price is $18.13.

Insiders Place Their Bets

In other news, CFO Peter Kuan-How Lin purchased 26,667 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were purchased at an average price of $15.00 per share, with a total value of $400,005.00. Following the completion of the acquisition, the chief financial officer owned 48,979 shares in the company, valued at $734,685. This trade represents a 119.52% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Hung-Wen Chen acquired 266,667 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average price of $15.00 per share, for a total transaction of $4,000,005.00. Following the transaction, the chief executive officer directly owned 1,029,695 shares of the company’s stock, valued at $15,445,425. This represents a 34.95% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought 583,334 shares of company stock worth $8,250,510 in the last three months.

Hedge Funds Weigh In On Apollomics

An institutional investor recently bought a new position in Apollomics stock. Citadel Advisors LLC bought a new position in Apollomics Inc. (NASDAQ:APLM) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 10,664 shares of the company’s stock, valued at approximately $224,000. Citadel Advisors LLC owned about 0.48% of Apollomics as of its most recent SEC filing. 19.13% of the stock is owned by institutional investors.

Apollomics Company Profile

Apollomics, Inc, a clinical-stage biopharmaceutical company based in Palo Alto, California, focuses on the development of innovative targeted therapies and immuno-oncology agents for the treatment of cancer. The company’s research and development efforts center on small molecule inhibitors and monoclonal antibodies designed to address key pathways involved in tumor growth and immune evasion. Its lead asset, dalpiciclib (formerly SHP654), is a selective oral CDK4/6 inhibitor in Phase III trials for metastatic breast cancer, and Apollomics holds a number of additional early-stage programs targeting solid tumors and hematologic malignancies.

Founded in 2015, Apollomics has established research and clinical collaboration networks across North America, China and Europe.