Apogee Therapeutics (NASDAQ:APGE) Trading Down 2.7%

Apogee Therapeutics, Inc. (NASDAQ:APGE)’s share price fell 2.7% during trading on Wednesday . The stock traded as low as $36.88 and last traded at $37.16. 85,240 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 558,863 shares. The stock had previously closed at $38.21.

Analyst Ratings Changes

Several equities research analysts have issued reports on APGE shares. Wedbush restated an “outperform” rating and set a $87.00 target price on shares of Apogee Therapeutics in a research report on Monday, May 13th. Bank of America started coverage on Apogee Therapeutics in a research report on Friday, May 10th. They set a “buy” rating and a $80.00 target price on the stock. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $73.00.

Apogee Therapeutics Price Performance

The stock has a 50 day moving average of $45.50 and a 200 day moving average of $44.38.

Apogee Therapeutics (NASDAQ:APGE) last released its earnings results on Monday, May 13th. The company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.04). On average, equities analysts forecast that Apogee Therapeutics, Inc. will post -2.64 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. EntryPoint Capital LLC increased its stake in Apogee Therapeutics by 44.7% in the first quarter. EntryPoint Capital LLC now owns 1,997 shares of the company’s stock valued at $133,000 after acquiring an additional 617 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of Apogee Therapeutics by 28.8% during the first quarter. China Universal Asset Management Co. Ltd. now owns 7,155 shares of the company’s stock valued at $475,000 after buying an additional 1,600 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Apogee Therapeutics by 34.0% during the fourth quarter. SG Americas Securities LLC now owns 6,607 shares of the company’s stock valued at $185,000 after buying an additional 1,676 shares during the last quarter. Ameritas Investment Partners Inc. grew its stake in shares of Apogee Therapeutics by 111.2% during the first quarter. Ameritas Investment Partners Inc. now owns 4,126 shares of the company’s stock valued at $274,000 after buying an additional 2,172 shares during the last quarter. Finally, Kennedy Capital Management LLC bought a new position in shares of Apogee Therapeutics during the first quarter valued at about $212,000. 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.