HC Wainwright Lowers Apollomics (NASDAQ:APLM) Price Target to $2.00

Apollomics (NASDAQ:APLM) had its price target dropped by stock analysts at HC Wainwright from $5.00 to $2.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price target points to a potential upside of 404.29% from the stock’s previous close.

Apollomics Price Performance

Shares of NASDAQ:APLM opened at $0.40 on Wednesday. The company’s fifty day moving average is $0.57 and its two-hundred day moving average is $0.74. Apollomics has a 12-month low of $0.39 and a 12-month high of $6.45.

Hedge Funds Weigh In On Apollomics

A hedge fund recently bought a new stake in Apollomics stock. Powell Investment Advisors LLC bought a new position in Apollomics, Inc. (NASDAQ:APLM) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 130,297 shares of the company’s stock, valued at approximately $98,000. Powell Investment Advisors LLC owned about 0.15% of Apollomics at the end of the most recent reporting period. 19.13% of the stock is currently owned by institutional investors and hedge funds.

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.