Apogee Therapeutics (NASDAQ:APGE) Announces Earnings Results, Misses Estimates By $0.25 EPS

Apogee Therapeutics (NASDAQ:APGE) posted its quarterly earnings results on Monday. The company reported ($1.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.94) by ($0.25), Zacks reports.

Apogee Therapeutics Price Performance

Apogee Therapeutics stock opened at $30.37 on Wednesday. The business has a 50 day moving average of $40.01 and a 200-day moving average of $47.32. Apogee Therapeutics has a 1 year low of $29.10 and a 1 year high of $72.29. The company has a market capitalization of $1.37 billion, a P/E ratio of -12.55 and a beta of 2.46.

Wall Street Analyst Weigh In

A number of research firms recently commented on APGE. Canaccord Genuity Group began coverage on Apogee Therapeutics in a research note on Monday, November 25th. They issued a “buy” rating and a $89.00 price target for the company. Canaccord Genuity Group began coverage on Apogee Therapeutics in a research note on Monday, November 25th. They set a “buy” rating and a $89.00 target price for the company. Guggenheim reissued a “buy” rating on shares of Apogee Therapeutics in a research note on Monday, February 10th. Finally, Wedbush reissued an “outperform” rating and set a $90.00 target price on shares of Apogee Therapeutics in a research note on Monday. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $89.71.

Insider Activity

In related news, Director Mark C. Mckenna bought 20,000 shares of Apogee Therapeutics stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average cost of $49.54 per share, for a total transaction of $990,800.00. Following the completion of the acquisition, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $990,800. The trade was a ? increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Carl Dambkowski sold 4,540 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $48.76, for a total value of $221,370.40. Following the completion of the sale, the insider now owns 258,073 shares in the company, valued at $12,583,639.48. The trade was a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,145 shares of company stock valued at $1,897,799 over the last quarter. 36.10% of the stock is owned by company insiders.

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.