Stonepine Capital, L.P. Purchases 185,157 Shares of Apollo Endosurgery, Inc. (APEN) Stock
Apollo Endosurgery, Inc. (NASDAQ:APEN) major shareholder Stonepine Capital, L.P. purchased 185,157 shares of the stock in a transaction on Friday, December 22nd. The stock was bought at an average cost of $4.85 per share, for a total transaction of $898,011.45. Following the completion of the acquisition, the insider now owns 2,410,141 shares in the company, valued at $11,689,183.85. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Stonepine Capital, L.P. also recently made the following trade(s):
- On Wednesday, December 20th, Stonepine Capital, L.P. bought 45,434 shares of Apollo Endosurgery stock. The shares were acquired at an average cost of $4.50 per share, for a total transaction of $204,453.00.
Shares of Apollo Endosurgery, Inc. (NASDAQ APEN) opened at $5.10 on Friday. Apollo Endosurgery, Inc. has a 52-week low of $3.55 and a 52-week high of $21.88. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.54 and a quick ratio of 2.00. The firm has a market cap of $89.59, a P/E ratio of -0.23 and a beta of 0.46.
A number of institutional investors have recently modified their holdings of the business. Stonepine Capital Management LLC acquired a new stake in Apollo Endosurgery in the third quarter valued at approximately $11,067,000. King Luther Capital Management Corp acquired a new stake in Apollo Endosurgery in the third quarter valued at approximately $2,567,000. Russell Investments Group Ltd. acquired a new stake in Apollo Endosurgery in the third quarter valued at approximately $1,288,000. Woodmont Investment Counsel LLC acquired a new stake in Apollo Endosurgery in the third quarter valued at approximately $220,000. Finally, JPMorgan Chase & Co. acquired a new stake in Apollo Endosurgery in the third quarter valued at approximately $119,000. Hedge funds and other institutional investors own 23.67% of the company’s stock.
A number of research analysts recently issued reports on the stock. Northland Securities reissued a “buy” rating and issued a $12.00 price objective on shares of Apollo Endosurgery in a research note on Tuesday, November 28th. Zacks Investment Research raised shares of Apollo Endosurgery from a “hold” rating to a “buy” rating and set a $4.75 price objective on the stock in a research note on Thursday, November 2nd. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $9.44.
About Apollo Endosurgery
Apollo Endosurgery, Inc, formerly Lpath, Inc, is a medical device company. The Company is focused on less invasive therapies for the treatment of obesity, as well as other gastrointestinal disorders. The Company’s device-based therapies are an alternative to invasive surgical procedures. The Company offers products in over 80 countries.
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