Canaccord Genuity Group Begins Coverage on Apogee Therapeutics (NASDAQ:APGE)

Canaccord Genuity Group started coverage on shares of Apogee Therapeutics (NASDAQ:APGE) in a report published on Monday morning, MarketBeat reports. The firm issued a buy rating and a $89.00 price target on the stock.

Separately, Wedbush restated an “outperform” rating and set a $87.00 target price on shares of Apogee Therapeutics in a research report on Tuesday, November 12th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Apogee Therapeutics currently has a consensus rating of “Buy” and an average target price of $83.50.

Apogee Therapeutics Stock Up 1.7 %

Shares of NASDAQ:APGE opened at $44.70 on Monday. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of -18.47 and a beta of 2.93. The company’s fifty day simple moving average is $53.83 and its 200 day simple moving average is $48.54. Apogee Therapeutics has a 12 month low of $16.39 and a 12 month high of $72.29.

Insiders Place Their Bets

In other news, CEO Michael Thomas Henderson sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $59.22, for a total transaction of $888,300.00. Following the transaction, the chief executive officer now owns 1,339,487 shares of the company’s stock, valued at approximately $79,324,420.14. This represents a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Carl Dambkowski sold 6,665 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $47.56, for a total transaction of $316,987.40. Following the transaction, the insider now directly owns 280,793 shares in the company, valued at approximately $13,354,515.08. This trade represents a 2.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 114,995 shares of company stock worth $6,128,295. Corporate insiders own 36.10% of the company’s stock.

Institutional Investors Weigh In On Apogee Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Apogee Therapeutics in the third quarter worth about $71,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Apogee Therapeutics by 21.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,628 shares of the company’s stock valued at $94,000 after purchasing an additional 285 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Apogee Therapeutics in the second quarter worth about $143,000. Kennedy Capital Management LLC acquired a new position in Apogee Therapeutics in the 1st quarter worth about $212,000. Finally, Wexford Capital LP purchased a new position in shares of Apogee Therapeutics during the 3rd quarter valued at approximately $230,000. Institutional investors own 79.04% of the company’s stock.

About Apogee Therapeutics

Apogee Therapeutics, Inc, through its subsidiary, operates as a biotechnology company that develops biologics for the treatment of atopic dermatitis (AD), asthma, chronic obstructive pulmonary disease (COPD), and related inflammatory and immunology indications. The company primarily develops APG777, a subcutaneous (SQ) extended half-life monoclonal antibody (mAb) for AD; and APG808, an SQ extended half-life mAb for COPD.