# Apnimed, Inc. (APMD)

> Source: Nexqual · https://nexqual.com/APMD · data as of 2026-10-28 19:48 UTC · cite as "Nexqual, Apnimed, Inc. (APMD), nexqual.com/APMD" · informational, not investment advice.

**Price:** USD 18.92 (-2.92% today) · US market open, as of October 28, 2026 at 19:48 UTC; quotes may be delayed. Prev close 19.49 · day 18–19.51 · 52w 16.12–35.29 · market cap $788M · NMS

## Key facts
- Valuation: P/E 8.2x, net cash $133M.
- Insider open-market purchases, last ~7 months: 2 Form 4 filings, $5.2M; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 2.00 on a 1–5 scale) (4 analysts), mean target USD 50.33 (range 41–60).
- Total return with dividends: 1Y -24.3% vs S&P 500 +13.5%; 5Y -24.3% vs S&P 500 +79.7%.
- Next earnings: 2026-11-11, EPS estimate USD -0.6, revenue estimate $0K.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 8.2x · Earnings yield 12.13% · Net cash $133M · EV $655M

## Insider purchases (SEC Form 4, open-market, last ~7 months)
2 purchases, $5.2M. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-08-03 | Morningside Venture Investments Ltd |  | 312,500 | $5.0M | 16 | Too little history (no open-market trades in 2023–2025) |
| 2026-08-03 | Sekhri Paul J | Director | 12,500 | $200K | 16 | Too little history (no open-market trades in 2023–2025) |
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.00 on a 1–5 scale), 4 analysts; mean target USD 50.33 (low 41, high 60).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-25 | LifeSci Capital | Initiated | Outperform | $50 |
| 2026-08-25 | Cantor Fitzgerald | Initiated | Overweight | $60 |
| 2026-08-25 | Evercore ISI Group | Initiated | Outperform |  |
| 2026-08-25 | B of A Securities | Initiated | Buy | $41 |

## Total return (dividends reinvested)
|  | 1Y (from 2026-07-31) | 5Y (from 2026-07-27) |
|---|---|---|
| Total return | -24.3% | -24.3% |
| S&P 500 (SPY) | +13.5% | +79.7% |
| Per year | — | — |
| Volatility (annualized) | 92.1% | 88.5% |
| Max drawdown | -49.0% (Aug 2026→Oct 2026) | -44.1% (Aug 2026→Oct 2026) |

## Peers (Biotechnology)
ORKA (Oruka Therapeutics, Inc.) USD 95.8 -0.02% · RYTM (Rhythm Pharmaceuticals, Inc.) USD 92.36 +0.20% · IOVA (Iovance Biotherapeutics, Inc.) USD 14.7 +0.79% · IONS (Ionis Pharmaceuticals, Inc.) USD 44.65 +1.57% · AXSM (Axsome Therapeutics, Inc.) USD 143.49 +0.91% · PRAX (Praxis Precision Medicines, Inc) USD 282.09 +5.42%

## More
Full page: https://nexqual.com/APMD · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Company outlook (8-K filed 2026-09-08)

- "The net decrease was primarily driven by $7.6 million lower clinical trial expense related to AD109 (proposed proprietary name Oxnimbi) as LunAIRo and SynAIRgy trials were completed in 2025, and $0.1 million decrease in other projects expense."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.60 | $0.00 | −$0.60 | $0 | 2 |
| Next quarter (ends 2026-12-31) | $-0.72 | $0.00 | −$0.72 | $0 | 2 |
| Current fiscal year (ends 2026-12-31) | $-0.06 | $0.00 | −$0.06 | $90.8M | 1 |
| Next fiscal year (ends 2027-12-31) | $-3.98 | $0.00 | −$3.98 | $22.4M | 4 |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | −$0.42 | −$0.34 | Miss −23.5% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-09-08 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/1745648/000119312526385356/0001193125-26-385356-index.htm |
| 2026-09-08 | 8-K | Quarterly results | https://www.sec.gov/Archives/edgar/data/1745648/000119312526385355/0001193125-26-385355-index.htm |
| 2026-08-07 | Schedule 13G | Ameriprise Financial, Inc., Columbia Management Investment Advisers, LLC: 18.9% of shares, passive 5%+ holder | https://www.sec.gov/Archives/edgar/data/1745648/000119312526340067/0001193125-26-340067-index.htm |
| 2026-08-06 | Schedule 13G | Tao Capital Management LP, Tao Invest VI LLC: 5.2% of shares, passive 5%+ holder | https://www.sec.gov/Archives/edgar/data/1745648/000110465926092032/0001104659-26-092032-index.htm |
| 2026-08-03 | 8-K | Bylaws or fiscal-year change | https://www.sec.gov/Archives/edgar/data/1745648/000119312526330509/0001193125-26-330509-index.htm |
| 2026-07-27 | S-1/A | Registration of new shares | https://www.sec.gov/Archives/edgar/data/1745648/000119312526316811/0001193125-26-316811-index.htm |
| 2026-07-10 | S-1 | Registration of new shares | https://www.sec.gov/Archives/edgar/data/1745648/000119312526300909/0001193125-26-300909-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.