Short Interest in Apollomics, Inc. (NASDAQ:APLM) Decreases By 44.6%

Apollomics, Inc. (NASDAQ:APLM) saw a significant decline in short interest in June. As of June 15th, there was short interest totalling 80,200 shares, a decline of 44.6% from the May 31st total of 144,700 shares. Based on an average daily volume of 391,000 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.2% of the shares of the company are sold short.

Hedge Funds Weigh In On Apollomics

An institutional investor recently bought a new position in Apollomics stock. Powell Investment Advisors LLC purchased a new stake in Apollomics, Inc. (NASDAQ:APLM) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 130,297 shares of the company’s stock, valued at approximately $98,000. Powell Investment Advisors LLC owned approximately 0.15% of Apollomics as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 19.13% of the company’s stock.

Analysts Set New Price Targets

Separately, HC Wainwright reduced their price target on Apollomics from $5.00 to $2.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th.

Apollomics Price Performance

Shares of NASDAQ APLM traded down $0.00 during mid-day trading on Friday, hitting $0.20. The company had a trading volume of 38,687 shares, compared to its average volume of 311,947. Apollomics has a 1 year low of $0.18 and a 1 year high of $6.20. The stock’s 50-day moving average price is $0.31 and its 200-day moving average price is $0.59.

About Apollomics

Apollomics, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of oncology therapies to harness the immune system and target specific molecular pathways to eradicate cancer. The company's products portfolio includes Vebreltinib (APL-101), an oral active, highly selective c-Met inhibitor, which is in Phase 2 clinical trials for treatment of non-small cell lung cancer; APL-102, an oral active, small molecule Multiple Tyrosine Kinase Inhibitor, which is in a in a Phase 1 clinical trial to inhibit various kinases that are aberrantly activated in cancer cells; and APL-122, a tumor inhibitor candidate, targeting ErbB1/2/4 signaling pathwaysthat is in Phase 1 dose escalation clinical trials to treat cancers within the brain.