Apollomics (NASDAQ:APLM) Trading Down 9% – Here’s Why

Apollomics, Inc. (NASDAQ:APLM)’s stock price was down 9% on Tuesday . The company traded as low as $8.71 and last traded at $8.80. Approximately 7,185 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 90,982 shares. The stock had previously closed at $9.67.

Apollomics Price Performance

The company’s 50-day moving average is $13.14 and its 200 day moving average is $17.68.

Institutional Investors Weigh In On Apollomics

A hedge fund recently raised its stake in Apollomics stock. George Kaiser Family Foundation increased its holdings in shares of Apollomics, Inc. (NASDAQ:APLM) by 2,585.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 670,976 shares of the company’s stock after acquiring an additional 645,992 shares during the period. Apollomics makes up approximately 0.0% of George Kaiser Family Foundation’s portfolio, making the stock its 18th biggest holding. George Kaiser Family Foundation owned 0.75% of Apollomics worth $141,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 19.13% of the company’s stock.

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.