Apollomics (NASDAQ:APLM) Shares Down 9% – Should You Sell?

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

Apollomics Stock Performance

The stock has a 50 day moving average price of $13.03 and a 200 day moving average price of $17.48.

Institutional Trading of Apollomics

An institutional investor recently raised its position in Apollomics stock. George Kaiser Family Foundation lifted its stake in shares of Apollomics, Inc. (NASDAQ:APLM) by 2,585.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 670,976 shares of the company’s stock after purchasing an additional 645,992 shares during the period. Apollomics accounts for 0.0% of George Kaiser Family Foundation’s investment portfolio, making the stock its 18th biggest holding. George Kaiser Family Foundation owned approximately 0.75% of Apollomics worth $141,000 as of its most recent filing with the Securities & Exchange Commission. 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.