What's Going On With Apollomics (APLM) Stock

Apollomics Inc APLM shares are trading lower by 32.25% to $4.37 Wednesday morning, despite a lack of company-specific news. The stock may be falling due to profit taking after EF Hutton on Tuesday initiated coverage on the stock with a Buy rating and a $25 price target.

Apollomics stock is falling on heavy volume Wednesday morning with 243,000 shares traded, nearly matching the trailing 100-day volume of 248,000 shares.

See Also: Awaiting Q1 GDP Results: Can US Economy Fend Off Recession Fears?

Apollomics is focused on the discovery and development of oncology therapies with the potential to be combined with other treatment options to harness the immune system and target specific molecular pathways to inhibit cancer.

According to data from Benzinga Pro, APLM has a 52-week high of $49.00 and a 52-week low of $3.71.