Apollomics (NASDAQ:APLM) Shares Gap Down – Here’s Why

Shares of Apollomics, Inc. (NASDAQ:APLM) gapped down before the market opened on Monday . The stock had previously closed at $9.18, but opened at $8.40. Apollomics shares last traded at $8.47, with a volume of 14,344 shares.

Apollomics Price Performance

The business has a fifty day simple moving average of $13.21 and a 200 day simple moving average of $17.89.

Institutional Investors Weigh In On Apollomics

An institutional investor recently raised its position in Apollomics stock. George Kaiser Family Foundation raised its position in Apollomics, Inc. (NASDAQ:APLM) by 2,585.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 670,976 shares of the company’s stock after purchasing an additional 645,992 shares during the period. Apollomics comprises about 0.0% of George Kaiser Family Foundation’s investment portfolio, making the stock its 18th largest position. George Kaiser Family Foundation owned about 0.75% of Apollomics worth $141,000 at the end of the most recent reporting period. 19.13% of the stock is currently owned by hedge funds and other institutional investors.

Apollomics Company Profile

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.