Apogee Therapeutics' (APGE) Buy Rating Reaffirmed at Guggenheim

Apogee Therapeutics (NASDAQ:APGE - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at Guggenheim in a research note issued on Monday,Benzinga reports.

APGE has been the subject of several other research reports. Canaccord Genuity Group began coverage on shares of Apogee Therapeutics in a research report on Monday, November 25th. They set a "buy" rating and a $89.00 price objective for the company. Canaccord Genuity Group began coverage on shares of Apogee Therapeutics in a report on Monday, November 25th. They issued a "buy" rating and a $89.00 price target for the company. Finally, Wedbush boosted their price objective on Apogee Therapeutics from $87.00 to $90.00 and gave the stock an "outperform" rating in a research note on Monday, December 2nd. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $89.71.

Apogee Therapeutics Stock Up 2.6 %

Apogee Therapeutics stock traded up $0.92 during midday trading on Monday, reaching $36.42. 153,632 shares of the stock traded hands, compared to its average volume of 517,761. The stock has a market cap of $1.64 billion, a P/E ratio of -15.05 and a beta of 2.18. The stock's fifty day moving average is $43.55 and its 200-day moving average is $48.25. Apogee Therapeutics has a 12 month low of $33.14 and a 12 month high of $72.29.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported ($0.86) EPS for the quarter, missing analysts' consensus estimates of ($0.73) by ($0.13). On average, equities analysts predict that Apogee Therapeutics will post -3.09 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Carl Dambkowski sold 6,665 shares of the business's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $46.07, for a total transaction of $307,056.55. Following the completion of the sale, the insider now directly owns 260,798 shares of the company's stock, valued at approximately $12,014,963.86. The trade was a 2.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark C. Mckenna purchased 20,000 shares of the business's stock in a transaction dated Thursday, December 12th. The stock was bought at an average price of $49.54 per share, for a total transaction of $990,800.00. Following the completion of the acquisition, the director now owns 20,000 shares of the company's stock, valued at approximately $990,800. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have sold 63,810 shares of company stock valued at $2,903,556 in the last ninety days. 36.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Apogee Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. Kennedy Capital Management LLC increased its position in shares of Apogee Therapeutics by 75.5% during the fourth quarter. Kennedy Capital Management LLC now owns 72,307 shares of the company's stock worth $3,276,000 after acquiring an additional 31,113 shares during the period. Legal & General Group Plc increased its holdings in Apogee Therapeutics by 15.7% during the 4th quarter. Legal & General Group Plc now owns 25,873 shares of the company's stock worth $1,172,000 after purchasing an additional 3,520 shares during the period. Franklin Resources Inc. raised its position in Apogee Therapeutics by 0.6% during the 4th quarter. Franklin Resources Inc. now owns 866,188 shares of the company's stock valued at $39,238,000 after purchasing an additional 5,199 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Apogee Therapeutics by 13.5% in the 4th quarter. Alliancebernstein L.P. now owns 1,355,185 shares of the company's stock worth $61,390,000 after buying an additional 160,822 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Apogee Therapeutics by 26.1% in the 4th quarter. JPMorgan Chase & Co. now owns 37,255 shares of the company's stock worth $1,688,000 after buying an additional 7,700 shares during the period. 79.04% of the stock is owned by hedge funds and other institutional investors.

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.