Stonepine Capital Management LLC Invests $11.07 Million in Apollo Endosurgery, Inc. (APEN) Stock

Stonepine Capital Management LLC purchased a new position in shares of Apollo Endosurgery, Inc. (NASDAQ:APEN) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,364,707 shares of the biotechnology company’s stock, valued at approximately $11,067,000. Apollo Endosurgery accounts for approximately 6.5% of Stonepine Capital Management LLC’s portfolio, making the stock its 7th biggest holding. Stonepine Capital Management LLC owned approximately 13.68% of Apollo Endosurgery at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. bought a new position in shares of Apollo Endosurgery during the 3rd quarter worth $119,000. Woodmont Investment Counsel LLC bought a new position in shares of Apollo Endosurgery during the 3rd quarter worth $220,000. Finally, Russell Investments Group Ltd. bought a new position in shares of Apollo Endosurgery during the 3rd quarter worth $1,288,000. Institutional investors own 23.67% of the company’s stock.

APEN has been the subject of several research reports. Northland Securities initiated coverage on Apollo Endosurgery in a research note on Tuesday, September 26th. They set an “outperform” rating and a $12.00 price target for the company. Zacks Investment Research upgraded Apollo Endosurgery from a “hold” rating to a “buy” rating and set a $4.75 price target for the company in a research note on Thursday, November 2nd. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $9.44.

Apollo Endosurgery, Inc. (NASDAQ APEN) opened at $4.51 on Monday. The company has a current ratio of 2.54, a quick ratio of 2.00 and a debt-to-equity ratio of 0.58. Apollo Endosurgery, Inc. has a 12 month low of $3.55 and a 12 month high of $21.88.

In other news, VP Bret Schwartzhoff purchased 9,500 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was bought at an average price of $4.24 per share, for a total transaction of $40,280.00. Following the purchase, the vice president now owns 15,631 shares of the company’s stock, valued at $66,275.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 74.20% of the stock is currently owned by corporate insiders.

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Apollo Endosurgery Profile

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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