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

Apogee Therapeutics, Inc. (NASDAQ:APGE) has earned an average rating of “Buy” from the seven research firms that are currently covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a buy recommendation. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $89.71.

Several equities analysts have commented on the company. Canaccord Genuity Group began coverage on Apogee Therapeutics in a research report on Monday, November 25th. They issued a “buy” rating and a $89.00 price objective on the stock. Canaccord Genuity Group began coverage on shares of Apogee Therapeutics in a report on Monday, November 25th. They issued a “buy” rating and a $89.00 price target on the stock. Wedbush raised their price target on shares of Apogee Therapeutics from $87.00 to $90.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Finally, Guggenheim reissued a “buy” rating on shares of Apogee Therapeutics in a research report on Thursday, December 12th.

Apogee Therapeutics Stock Up 0.8 %

APGE stock opened at $41.64 on Friday. Apogee Therapeutics has a twelve month low of $33.14 and a twelve month high of $72.29. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of -17.21 and a beta of 2.18. The firm’s fifty day simple moving average is $44.36 and its two-hundred day simple moving average is $48.60.

Apogee Therapeutics (NASDAQ:APGE) last released its earnings results on Tuesday, November 12th. The company reported ($0.86) EPS for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.13). As a group, equities research analysts expect that Apogee Therapeutics will post -3.09 EPS for the current year.

Insider Activity

In related news, CEO Michael Thomas Henderson sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $46.58, for a total value of $698,700.00. Following the completion of the transaction, the chief executive officer now owns 1,324,487 shares of the company’s stock, valued at $61,694,604.46. The trade was a 1.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Carl Dambkowski sold 6,665 shares of Apogee Therapeutics stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $46.07, for a total value of $307,056.55. Following the completion of the transaction, the insider now owns 260,798 shares in the company, valued at $12,014,963.86. This represents a 2.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,290 shares of company stock worth $2,151,627. 36.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in Apogee Therapeutics by 35.7% in the third quarter. Wellington Management Group LLP now owns 4,814,400 shares of the company’s stock valued at $282,798,000 after acquiring an additional 1,267,451 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Apogee Therapeutics by 11.2% in the 3rd quarter. Geode Capital Management LLC now owns 823,839 shares of the company’s stock worth $48,401,000 after purchasing an additional 82,978 shares in the last quarter. Point72 Asset Management L.P. grew its stake in Apogee Therapeutics by 162.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 707,268 shares of the company’s stock worth $41,545,000 after buying an additional 438,036 shares during the last quarter. Waypoint Capital Advisors LLC acquired a new position in Apogee Therapeutics during the 3rd quarter valued at about $36,835,000. Finally, Janus Henderson Group PLC raised its stake in Apogee Therapeutics by 4,018.9% in the third quarter. Janus Henderson Group PLC now owns 469,557 shares of the company’s stock valued at $27,586,000 after buying an additional 458,157 shares during the last quarter. Hedge funds and other institutional investors own 79.04% of the company’s stock.

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.