Aptorum Group Ltd [NASDAQ: APM] jumped around 2.44 points on Thursday, while shares priced at $6.77 at the close of the session, up 56.35%. The company report on March 6, 2024 at 8:00 AM that Aptorum Group Ltd Announces Entering into an Agreement and Plan of Merger with YOOV Group Holding Ltd and a Split-off Agreement to Separate its Legacy Business.
Aptorum Group Limited (Nasdaq: APM), a clinical stage biopharmaceutical company (“Aptorum”), and privately-held YOOV Group Holding Ltd. (“YOOV”) jointly announced today that they entered into an Agreement and Plan of Merger (as it may be amended from time to time, the “Merger Agreement”). The Merger Agreement was approved by Aptorum’s and YOOV’s boards of directors (each board of directors, the “Board”), respectively. If the Merger Agreement is approved by Aptorum’s and YOOV’s shareholders (and the other closing conditions are satisfied or waived in accordance with the Merger Agreement), and upon consummation of the transactions contemplated by the Merger Agreement (the “Closing”, and the date of the Closing, the “Closing Date”), a wholly-owned subsidiary of Aptorum organized under the laws of the British Virgin Islands (“Merger Sub”) will merge with and into YOOV (collectively, the “Merger”).
In addition, on March 1, 2024, Aptorum, its major shareholder, Jurchen Investment Corporation (“Jurchen”), which is controlled by Ian Huen, Executive Director and Chief Executive Officer of Aptorum, and Aptorum Therapeutics Limited (“ATL”), a wholly-owned subsidiary of Aptorum have entered into a split-off agreement (the “Split-Off Agreement”). Pursuant to the Split-Off Agreement, Aptorum will assign and transfer the assets and liabilities of its legacy business to ATL, and Jurchen will acquire 100% issued and outstanding shares of ATL from Aptorum and surrender certain ordinary shares of Aptorum held by Jurchen to Aptorum (the “Separation”). The Separation will become effective immediately following completion of the Merger. The Separation and the Merger are referred hereto as the “Proposed Transactions.” Aptorum upon the Closing is referred to herein as the “combined company.”.
Compared to the average trading volume of 1.58M shares, APM reached a trading volume of 44383554 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Aptorum Group Ltd [APM]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for APM shares is $80.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on APM stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
The Average True Range (ATR) for Aptorum Group Ltd is set at 1.80, with the Price to Sales ratio for APM stock in the period of the last 12 months amounting to 29.22. The Price to Book ratio for the last quarter was 1.61, with the Price to Cash per share for the same quarter was set at 0.09.
How has APM stock performed recently?
Aptorum Group Ltd [APM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.15. With this latest performance, APM shares gained by 326.97% in over the last four-week period, additionally plugging by 203.59% over the last 6 months – not to mention a rise of 141.79% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for APM stock in for the last two-week period is set at 63.94, with the RSI for the last a single of trading hit 63.76, and the three-weeks RSI is set at 63.77 for Aptorum Group Ltd [APM]. The present Moving Average for the last 50 days of trading for this stock 2.42, while it was recorded at 5.90 for the last single week of trading, and 2.26 for the last 200 days.
Aptorum Group Ltd [APM]: Deeper insight into the fundamentals
Aptorum Group Ltd’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.32 and a Current Ratio set at 1.32.
Insider trade positions for Aptorum Group Ltd [APM]
The top three institutional holders of APM stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in APM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in APM stock with ownership which is approximately 5.8325%.
