Apnimed (NASDAQ:APMD) Shares Gap Up – Here’s Why

Apnimed, Inc. (NASDAQ:APMD)’s share price gapped up before the market opened on Friday . The stock had previously closed at $28.79, but opened at $30.61. Apnimed shares last traded at $29.50, with a volume of 37,401 shares trading hands.

Analyst Upgrades and Downgrades

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

Apnimed Price Performance

Insider Activity

In related news, major shareholder Morningside Venture Investment acquired 312,500 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were acquired at an average price 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 approximately $114,443,408. This trade represents a 4.57% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through 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.