Apogee Therapeutics (NASDAQ:APGE) Stock Price Up 4.5% – What’s Next?

Apogee Therapeutics, Inc. (NASDAQ:APGE) shares traded up 4.5% during mid-day trading on Monday . The stock traded as high as $37.52 and last traded at $37.77. 521,355 shares traded hands during trading, an increase of 6% from the average session volume of 491,645 shares. The stock had previously closed at $36.14.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wedbush reaffirmed an “outperform” rating and set a $90.00 target price on shares of Apogee Therapeutics in a report on Monday, March 3rd. Guggenheim reaffirmed a “buy” rating on shares of Apogee Therapeutics in a research note on Monday, February 10th. Canaccord Genuity Group assumed coverage on Apogee Therapeutics in a report on Monday, November 25th. They set a “buy” rating and a $89.00 target price on the stock. Finally, Canaccord Genuity Group initiated coverage on Apogee Therapeutics in a report on Monday, November 25th. They issued a “buy” rating and a $89.00 price target for the company. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $91.60.

Apogee Therapeutics Trading Up 3.9 %

The firm has a market cap of $1.69 billion, a PE ratio of -15.51 and a beta of 2.46. The firm has a 50 day moving average price of $38.78 and a 200-day moving average price of $46.83.

Apogee Therapeutics (NASDAQ:APGE) last released its quarterly earnings data on Monday, March 3rd. The company reported ($1.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.94) by ($0.25). Equities analysts forecast that Apogee Therapeutics, Inc. will post -3.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $30.15, for a total transaction of $301,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,292,987 shares in the company, valued at approximately $38,983,558.05. This trade represents a 0.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Carl Dambkowski sold 4,540 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $48.76, for a total transaction of $221,370.40. Following the completion of the sale, the insider now directly owns 258,073 shares in the company, valued at $12,583,639.48. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 53,735 shares of company stock valued at $2,247,762 over the last three months. 36.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. GF Fund Management CO. LTD. acquired a new stake in Apogee Therapeutics during the 4th quarter valued at $43,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Apogee Therapeutics in the third quarter valued at $71,000. Optimize Financial Inc acquired a new stake in shares of Apogee Therapeutics during the fourth quarter valued at $203,000. Aigen Investment Management LP purchased a new stake in Apogee Therapeutics during the 4th quarter worth about $216,000. Finally, BNP Paribas Financial Markets acquired a new position in Apogee Therapeutics in the 4th quarter valued at about $219,000. 79.04% of the stock is owned by hedge funds and other institutional investors.

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.