University of Texas Texas AM Investment Managment Co. trimmed its position in shares of Apollo Endosurgery Inc (NASDAQ:APEN) by 42.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,293 shares of the biotechnology company’s stock after selling 50,907 shares during the period. Apollo Endosurgery makes up about 0.2% of University of Texas Texas AM Investment Managment Co.’s holdings, making the stock its 11th largest holding. University of Texas Texas AM Investment Managment Co. owned about 0.39% of Apollo Endosurgery worth $477,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in APEN. Renaissance Technologies LLC acquired a new position in Apollo Endosurgery during the fourth quarter worth $126,000. Dimensional Fund Advisors LP acquired a new stake in shares of Apollo Endosurgery in the first quarter valued at $378,000. NJ State Employees Deferred Compensation Plan acquired a new stake in shares of Apollo Endosurgery in the first quarter valued at $959,000. Finally, Russell Investments Group Ltd. raised its stake in shares of Apollo Endosurgery by 7.5% in the first quarter. Russell Investments Group Ltd. now owns 331,163 shares of the biotechnology company’s stock valued at $2,037,000 after acquiring an additional 23,128 shares in the last quarter. Institutional investors own 32.77% of the company’s stock.
Several analysts have recently issued reports on the company. ValuEngine upgraded Apollo Endosurgery from a “hold” rating to a “buy” rating in a research note on Thursday, July 12th. Northland Securities cut Apollo Endosurgery from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 9th. Roth Capital reiterated a “neutral” rating and issued a $9.50 price objective on shares of Apollo Endosurgery in a research note on Tuesday, July 17th. Finally, Zacks Investment Research upgraded Apollo Endosurgery from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Apollo Endosurgery presently has a consensus rating of “Hold” and an average price target of $8.56.
Apollo Endosurgery (NASDAQ:APEN) last announced its quarterly earnings data on Wednesday, August 8th. The biotechnology company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.10). The company had revenue of $15.79 million during the quarter, compared to analyst estimates of $16.56 million. Apollo Endosurgery had a negative net margin of 46.55% and a negative return on equity of 58.61%. equities analysts forecast that Apollo Endosurgery Inc will post -1.65 EPS for the current fiscal year.
In other Apollo Endosurgery news, Director Matthew S. Crawford bought 363,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 20th. The shares were purchased at an average price of $5.50 per share, with a total value of $1,999,250.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Todd Newton bought 72,727 shares of the company’s stock in a transaction that occurred on Wednesday, June 20th. The stock was acquired at an average cost of $5.50 per share, for a total transaction of $399,998.50. Following the acquisition, the chief executive officer now directly owns 268,606 shares of the company’s stock, valued at $1,477,333. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 440,772 shares of company stock worth $2,424,246. Insiders own 52.80% of the company’s stock.
About Apollo Endosurgery
Apollo Endosurgery, Inc, a medical technology company, focuses on the design, development, and commercialization of medical devices for the treatment of obesity. The company offers endo-bariatric products, such as Orbera intragastric balloon system and Orbera365 Managed Weight Loss System, which are non-surgical alternatives for the treatment of overweight and obese adults; and OverStitch endoscopic suturing system that enables endoscopic procedures by allowing physicians to place full-thickness sutures and secure the approximation of tissue through flexible endoscope.
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