Guggenheim Raises Apogee Therapeutics (NASDAQ:APGE) Price Target to $110.00

Apogee Therapeutics (NASDAQ:APGE) had its price objective lifted by Guggenheim from $95.00 to $110.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently weighed in on APGE. Canaccord Genuity Group assumed coverage on Apogee Therapeutics in a research report on Monday, November 25th. They set a “buy” rating and a $89.00 price target on the stock. Canaccord Genuity Group started coverage on Apogee Therapeutics in a report on Monday, November 25th. They set a “buy” rating and a $89.00 price objective on the stock. Finally, Wedbush reaffirmed an “outperform” rating and issued a $87.00 target price on shares of Apogee Therapeutics in a research note on Tuesday, November 12th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $83.50.

Apogee Therapeutics Stock Performance

Apogee Therapeutics stock opened at $45.15 on Wednesday. Apogee Therapeutics has a fifty-two week low of $17.17 and a fifty-two week high of $72.29. The stock has a market cap of $2.03 billion, a P/E ratio of -18.66 and a beta of 2.93. The firm’s fifty day moving average price is $53.40 and its 200-day moving average price is $48.46.

Insider Buying and Selling

In related news, insider Carl Dambkowski sold 6,665 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $59.12, for a total value of $394,034.80. Following the sale, the insider now directly owns 267,463 shares of the company’s stock, valued at $15,812,412.56. This trade represents a 2.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Thomas Henderson sold 40,000 shares of the company’s 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 transaction, the chief executive officer now directly owns 1,394,487 shares of the company’s stock, valued at $66,405,470.94. The trade was a 2.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 114,995 shares of company stock worth $6,128,295 in the last ninety days. 36.10% of the stock is owned by insiders.

Institutional Trading of Apogee Therapeutics

Several large investors have recently added to or reduced their stakes in APGE. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Apogee Therapeutics during the 3rd quarter valued at about $71,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of 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 worth $94,000 after acquiring an additional 285 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Apogee Therapeutics in the 2nd quarter valued at approximately $143,000. Kennedy Capital Management LLC bought a new stake in shares of Apogee Therapeutics during the first quarter valued at approximately $212,000. Finally, Wexford Capital LP purchased a new stake in Apogee Therapeutics in the third quarter worth $230,000. 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.