Why Aptinyx Stock Soared on Friday [The Motley Fool]
Aptinyx Inc. (APTX)
Last aptinyx inc. earnings: 3/30 04:01 pm
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US:NASDAQ Investor Relations:
ir.aptinyx.com/investors-media
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Source: The Motley Fool
Why Aptinyx Stock Soared on Friday Shares rose in response to news that a large investment management company has purchased a significant ownership position. Shares of Aptinyx ( NASDAQ:APTX ) , a clinical-stage biotech focused on the brain and nervous system, rose about 27% on Friday. The double-digit jump appears to be linked to the filing of an SEC document that shows that Adams Street Partners -- an investment management company with $40 billion in assets -- has acquired more than 5 million shares of Aptinyx's stock. That position represents more than 11% of shares outstanding. Traders bid up the share price in response to the big vote of confidence from Adams Street Partners. Aptinyx's pipeline boasts three drugs that are in phase 2 development as possible treatments for diabetic neuropathy, fibromyalgia, post-traumatic stress disorder, and Parkinson's disease. These are all big indications with huge unmet medical needs, so success in any of them would be a financial windfall for
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