Apogee Therapeutics (NASDAQ:APGE) Coverage Initiated at Canaccord Genuity Group

Equities research analysts at Canaccord Genuity Group started coverage on shares of Apogee Therapeutics (NASDAQ:APGE) in a research note issued to investors on Monday, MarketBeat.com reports. The brokerage set a “buy” rating and a $89.00 price target on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 102.46% from the company’s current price.

Several other research firms have also recently weighed in on APGE. Canaccord Genuity Group assumed coverage on Apogee Therapeutics in a research note on Monday. They issued a “buy” rating and a $89.00 price target for the company. Wedbush restated an “outperform” rating and set a $87.00 target price on shares of Apogee Therapeutics in a research note on Tuesday, November 12th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $81.13.

Apogee Therapeutics Stock Performance

NASDAQ:APGE opened at $43.96 on Monday. The firm has a market cap of $1.98 billion, a P/E ratio of -18.20 and a beta of 2.93. Apogee Therapeutics has a fifty-two week low of $16.39 and a fifty-two week high of $72.29. The firm has a 50-day simple moving average of $54.14 and a two-hundred day simple moving average of $48.63.

Insider Transactions at Apogee Therapeutics

In related news, CEO Michael Thomas Henderson sold 40,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $47.62, for a total value of $1,904,800.00. Following the completion of the sale, the chief executive officer now directly owns 1,394,487 shares of the company’s stock, valued at approximately $66,405,470.94. This represents a 2.79 % 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 6,665 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $56.26, for a total transaction of $374,972.90. Following the completion of the transaction, the insider now owns 274,128 shares of the company’s stock, valued at approximately $15,422,441.28. The trade was a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 114,995 shares of company stock worth $6,128,295 in the last quarter. Company insiders own 36.10% of the company’s stock.

Institutional Investors Weigh In On Apogee Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of APGE. Geode Capital Management LLC lifted its stake in 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. Barclays PLC increased its holdings in shares of Apogee Therapeutics by 369.2% in the third quarter. Barclays PLC now owns 365,046 shares of the company’s stock worth $21,443,000 after purchasing an additional 287,243 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Apogee Therapeutics by 35.7% in the third quarter. Wellington Management Group LLP now owns 4,814,400 shares of the company’s stock worth $282,798,000 after buying an additional 1,267,451 shares in the last quarter. Wexford Capital LP bought a new position in Apogee Therapeutics during the third quarter valued at approximately $230,000. Finally, Point72 DIFC Ltd boosted its stake in Apogee Therapeutics by 14.5% during the third 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 institutional investors.

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.