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

Apogee Therapeutics, Inc. (NASDAQ:APGE) has received an average rating of “Buy” from the six research firms that are currently covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $78.50.

Separately, Wedbush reiterated an “outperform” rating and set a $87.00 price target on shares of Apogee Therapeutics in a research report on Friday, October 25th.

Insider Activity at Apogee Therapeutics

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 40,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 1,354,487 shares of the company’s stock, valued at approximately $76,162,804.01. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Michael Thomas Henderson sold 40,000 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 1,354,487 shares in the company, valued at $76,162,804.01. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Carl Dambkowski sold 7,335 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $40.67, for a total value of $298,314.45. Following the sale, the insider now owns 287,458 shares in the company, valued at approximately $11,690,916.86. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 146,665 shares of company stock valued at $7,058,635 over the last ninety days. Insiders own 36.10% of the company’s stock.

Hedge Funds Weigh In On Apogee Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arizona State Retirement System raised its stake in Apogee Therapeutics by 4.5% during the 2nd quarter. Arizona State Retirement System now owns 5,993 shares of the company’s stock valued at $236,000 after purchasing an additional 258 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Apogee Therapeutics by 21.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,628 shares of the company’s stock valued at $94,000 after buying an additional 285 shares during the period. EntryPoint Capital LLC lifted its position in Apogee Therapeutics by 44.7% in the 1st quarter. EntryPoint Capital LLC now owns 1,997 shares of the company’s stock worth $133,000 after buying an additional 617 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Apogee Therapeutics by 26.3% during the 2nd quarter. Principal Financial Group Inc. now owns 6,442 shares of the company’s stock valued at $253,000 after buying an additional 1,340 shares during the period. Finally, Handelsbanken Fonder AB grew its holdings in shares of Apogee Therapeutics by 25.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 8,800 shares of the company’s stock valued at $517,000 after acquiring an additional 1,800 shares in the last quarter. Institutional investors and hedge funds own 79.04% of the company’s stock.

Apogee Therapeutics Stock Down 5.2 %

Shares of APGE opened at $52.04 on Friday. Apogee Therapeutics has a 52-week low of $14.19 and a 52-week high of $72.29. The firm has a market capitalization of $3.04 billion, a PE ratio of -9.91 and a beta of 2.75. The firm has a 50-day moving average price of $53.07 and a 200 day moving average price of $48.43.

Apogee Therapeutics (NASDAQ:APGE) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.60) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.60). On average, equities analysts expect that Apogee Therapeutics will post -2.57 EPS for the current year.

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.