Apollomics, Inc. (NASDAQ:APLM) saw a significant increase in short interest during the month of August. The company’s short interest grew by 57.7% from August 15th to August 31st, totaling 4,100 shares. Currently, 0.1% of the company’s shares are being short sold.
The days-to-cover ratio, which measures how long it would take for the short sellers to cover their positions based on the average trading volume, is presently 0.2 days. This indicates that it would take a very short amount of time for the short sellers to buy back the borrowed shares.
Wall Street analysts have given Apollomics a “buy” rating, with HC Wainwright reaffirming this rating in a recent report.
Apollomics stock, traded under the symbol APLM on the NASDAQ, closed at $4.06 on Friday, September 4th. The stock has a 50-day moving average of $5.06 and has traded between a low of $3.71 and a high of $49.00 over the past year.
Several hedge funds have made changes to their positions in Apollomics recently. The George Kaiser Family Foundation purchased a new position worth $16,238,000, while Clear Street LLC bought shares valued at $165,000. Other hedge funds, such as Geode Capital Management LLC, Exchange Traded Concepts LLC, and Levin Capital Strategies L.P., also purchased positions in the company.
Apollomics, Inc. is a biotechnology company focused on the discovery and development of oncology therapies. The company is based in California, Hangzhou, Shanghai, China, and Australia. They are currently developing APL-101, a c-Met inhibitor for the treatment of non-small cell lung cancer and other advanced tumors, as well as APL-102, a tyrosine kinase inhibitor for liver cancer, breast cancer, and esophageal cancer. They are also working on APL-122, a tumor inhibitor candidate for brain cancers.