Apogee Therapeutics, Inc. (NASDAQ:APGE) Given Average Rating of “Buy” by Analysts

Apogee Therapeutics, Inc. (NASDAQ:APGE) has received an average rating of “Buy” from the five brokerages that are covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $91.60.

A number of analysts have weighed in on APGE shares. Wedbush reaffirmed an “outperform” rating and set a $90.00 target price on shares of Apogee Therapeutics in a research note on Monday. Canaccord Genuity Group started coverage on shares of Apogee Therapeutics in a research note on Monday, November 25th. They set a “buy” rating and a $89.00 target price on the stock. Canaccord Genuity Group started coverage on shares of Apogee Therapeutics in a research note on Monday, November 25th. They set a “buy” rating and a $89.00 target price on the stock. Finally, Guggenheim reiterated a “buy” rating on shares of Apogee Therapeutics in a report on Monday, February 10th.

Insider Transactions at Apogee Therapeutics

In related news, insider Carl Dambkowski sold 4,540 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $48.76, for a total value of $221,370.40. Following the transaction, the insider now owns 258,073 shares in the company, valued at $12,583,639.48. The trade was a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Thomas Henderson sold 15,000 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $40.58, for a total transaction of $608,700.00. Following the completion of the transaction, the chief executive officer now owns 1,302,987 shares in the company, valued at approximately $52,875,212.46. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,145 shares of company stock worth $1,897,799. Company insiders own 36.10% of the company’s stock.

Hedge Funds Weigh In On Apogee Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. GF Fund Management CO. LTD. acquired a new position in Apogee Therapeutics in the fourth quarter valued at $43,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Apogee Therapeutics in the third quarter valued at $71,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Apogee Therapeutics by 21.2% during the third 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 during the period. Wexford Capital LP acquired a new position in shares of Apogee Therapeutics during the third quarter valued at about $230,000. Finally, Optimize Financial Inc acquired a new position in shares of Apogee Therapeutics during the fourth quarter valued at about $203,000. Institutional investors and hedge funds own 79.04% of the company’s stock.

Apogee Therapeutics Price Performance

Shares of NASDAQ:APGE opened at $31.43 on Thursday. The company’s 50 day simple moving average is $39.67 and its 200 day simple moving average is $47.21. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of -12.99 and a beta of 2.46. Apogee Therapeutics has a 1 year low of $29.10 and a 1 year high of $72.29.

Apogee Therapeutics (NASDAQ:APGE) last posted its earnings results on Monday, March 3rd. The company reported ($1.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.94) by ($0.25). As a group, analysts anticipate that Apogee Therapeutics will post -3.09 EPS for the current fiscal year.

Apogee Therapeutics Company Profile

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.