Apogee Therapeutics, Inc. (NASDAQ:APGE) Receives $78.50 Average PT from Brokerages

Apogee Therapeutics, Inc. (NASDAQ:APGE) has been given a consensus recommendation of “Buy” by the six analysts that are currently covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy recommendation. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $78.50.

Separately, Wedbush restated an “outperform” rating and issued a $87.00 price target on shares of Apogee Therapeutics in a report on Tuesday, November 12th.

Insider Buying and Selling

In other news, CEO Michael Thomas Henderson sold 40,000 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $56.23, for a total value of $2,249,200.00. Following the completion of the sale, the chief executive officer now directly owns 1,354,487 shares of the company’s stock, valued at $76,162,804.01. This represents a 2.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Carl Dambkowski sold 6,665 shares of Apogee Therapeutics stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $47.56, for a total value 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. The trade was a 2.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 114,995 shares of company stock worth $6,128,295 in the last ninety days. Corporate insiders own 36.10% of the company’s stock.

Institutional Investors Weigh In On Apogee Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its holdings in Apogee Therapeutics by 11.2% during the 3rd quarter. Geode Capital Management LLC now owns 823,839 shares of the company’s stock worth $48,401,000 after acquiring an additional 82,978 shares during the last quarter. Barclays PLC lifted its position in shares of Apogee Therapeutics by 369.2% during the third quarter. Barclays PLC now owns 365,046 shares of the company’s stock valued at $21,443,000 after purchasing an additional 287,243 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Apogee Therapeutics by 35.7% during the third quarter. Wellington Management Group LLP now owns 4,814,400 shares of the company’s stock worth $282,798,000 after purchasing an additional 1,267,451 shares during the last quarter. Wexford Capital LP bought a new stake in Apogee Therapeutics in the 3rd quarter worth about $230,000. Finally, Point72 DIFC Ltd increased its stake in Apogee Therapeutics by 14.5% in the 3rd quarter. Point72 DIFC Ltd now owns 19,207 shares of the company’s stock valued at $1,128,000 after buying an additional 2,428 shares during the last quarter. 79.04% of the stock is owned by hedge funds and other institutional investors.

Apogee Therapeutics Stock Up 1.4 %

Shares of APGE stock opened at $43.46 on Tuesday. The firm has a 50 day moving average of $54.29 and a 200-day moving average of $48.71. The company has a market cap of $1.96 billion, a price-to-earnings ratio of -17.96 and a beta of 2.93. Apogee Therapeutics has a 52 week low of $16.39 and a 52 week high of $72.29.

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.