Apogee Therapeutics (NASDAQ:APGE) Reaches New 12-Month Low – Here’s What Happened

Apogee Therapeutics, Inc. (NASDAQ:APGE) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $33.11 and last traded at $32.90, with a volume of 301217 shares trading hands. The stock had previously closed at $34.93.

Wall Street Analysts Forecast Growth

Several research firms recently commented on APGE. Canaccord Genuity Group began coverage on Apogee Therapeutics in a report on Monday, November 25th. They issued a “buy” rating and a $89.00 target price on the stock. Canaccord Genuity Group began coverage on Apogee Therapeutics in a report on Monday, November 25th. They issued a “buy” rating and a $89.00 target price on the stock. Wedbush increased their target price on Apogee Therapeutics from $87.00 to $90.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. Finally, Guggenheim reissued a “buy” rating on shares of Apogee Therapeutics in a report on Monday, February 10th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $89.71.

Apogee Therapeutics Stock Down 2.2 %

The firm has a fifty day simple moving average of $42.54 and a 200-day simple moving average of $47.95. The company has a market cap of $1.54 billion, a PE ratio of -14.13 and a beta of 2.18.

Insiders Place Their Bets

In related news, CEO Michael Thomas Henderson sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $46.58, for a total transaction of $698,700.00. Following the transaction, the chief executive officer now owns 1,324,487 shares of the company’s stock, valued at $61,694,604.46. This trade represents a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Carl Dambkowski sold 4,540 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $48.76, for a total value of $221,370.40. Following the transaction, the insider now directly owns 258,073 shares in the company, valued at approximately $12,583,639.48. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,810 shares of company stock valued at $2,903,556. 36.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Apogee Therapeutics

A number of hedge funds have recently added to or reduced their stakes in APGE. GF Fund Management CO. LTD. acquired a new stake in Apogee Therapeutics in the fourth quarter valued at about $43,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Apogee Therapeutics during the 3rd quarter worth approximately $71,000. Mirae Asset Global Investments Co. Ltd. boosted its stake 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 worth $94,000 after acquiring an additional 285 shares in the last quarter. Optimize Financial Inc purchased a new stake in shares of Apogee Therapeutics during the 4th quarter worth approximately $203,000. Finally, Aigen Investment Management LP purchased a new stake in shares of Apogee Therapeutics during the 4th quarter worth approximately $216,000. Institutional investors and hedge funds 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.