Apollo Endosurgery, Inc. (NASDAQ:APEN) Short Interest Up 9.3% in February

Apollo Endosurgery, Inc. (NASDAQ:APEN – Get Rating) was the target of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 618,900 shares, an increase of 9.3% from the February 13th total of 566,200 shares. Based on an average trading volume of 1,340,000 shares, the days-to-cover ratio is currently 0.5 days.

Apollo Endosurgery Stock Performance

Apollo Endosurgery stock opened at $9.89 on Thursday. The company has a debt-to-equity ratio of 1.26, a current ratio of 6.00 and a quick ratio of 4.98. The firm has a market capitalization of $470.27 million, a P/E ratio of -9.69 and a beta of 2.32. Apollo Endosurgery has a 1-year low of $3.49 and a 1-year high of $10.30. The company’s 50-day moving average is $9.90 and its 200 day moving average is $8.03.

Wall Street Analysts Forecast Growth

APEN has been the topic of several research analyst reports. Cowen downgraded shares of Apollo Endosurgery from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $13.00 to $10.00 in a report on Monday, January 23rd. Lake Street Capital downgraded Apollo Endosurgery from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $14.00 to $10.00 in a research note on Wednesday, November 30th. Finally, Stifel Nicolaus lowered shares of Apollo Endosurgery from a “buy” rating to a “hold” rating and set a $10.00 target price for the company. in a report on Tuesday, January 3rd.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Wolverine Asset Management LLC bought a new position in Apollo Endosurgery in the fourth quarter worth approximately $67,000. Lazard Asset Management LLC lifted its stake in shares of Apollo Endosurgery by 77.5% during the 2nd quarter. Lazard Asset Management LLC now owns 10,904 shares of the biotechnology company’s stock worth $39,000 after purchasing an additional 4,762 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in Apollo Endosurgery during the first quarter valued at about $67,000. Morris Financial Concepts Inc. purchased a new position in Apollo Endosurgery in the fourth quarter valued at about $111,000. Finally, Jump Financial LLC bought a new stake in shares of Apollo Endosurgery in the 3rd quarter valued at about $62,000. Hedge funds and other institutional investors own 76.01% of the company’s stock.

Apollo Endosurgery Company Profile

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Apollo Endosurgery, Inc is a medical technology company, which focuses on the design, development, and commercialization of medical devices to advance gastrointestinal therapeutic endoscopy. It offers Endoscopy, Surgical and Other products. The firm’s endoscopy product portfolio consists of the OverStitch Endoscopic Suturing System, the OverStitch Sx Endoscopic Suturing System, and the Orbera Intragastric Balloon System.