Apogee Therapeutics, Inc. (NASDAQ:APGE) Given Consensus Recommendation of "Buy" by Brokerages

Apogee Therapeutics, Inc. (NASDAQ:APGE - Get Free Report) has been assigned an average rating of "Buy" from the six ratings firms that are currently covering the firm, MarketBeat reports. Six analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $78.50.

Separately, Wedbush reissued an "outperform" rating and set a $87.00 price target on shares of Apogee Therapeutics in a research report on Tuesday, November 12th.

Insiders Place Their Bets

In related news, CFO Jane Henderson sold 6,000 shares of Apogee Therapeutics stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $48.26, for a total transaction of $289,560.00. Following the sale, the chief financial officer now directly owns 200,871 shares in the company, valued at approximately $9,694,034.46. This trade represents a 2.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael Thomas Henderson sold 40,000 shares of the company's stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $47.62, for a total transaction of $1,904,800.00. Following the completion of the transaction, the chief executive officer now directly owns 1,394,487 shares of the company's stock, valued at $66,405,470.94. This represents a 2.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 120,995 shares of company stock worth $6,417,855 over the last three months. Insiders own 36.10% of the company's stock.

Hedge Funds Weigh In On Apogee Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Apogee Therapeutics in the 3rd quarter valued at $71,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Apogee Therapeutics by 21.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,628 shares of the company's stock worth $94,000 after purchasing an additional 285 shares during the period. EntryPoint Capital LLC raised its holdings in Apogee Therapeutics by 44.7% in the first quarter. EntryPoint Capital LLC now owns 1,997 shares of the company's stock valued at $133,000 after acquiring an additional 617 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Apogee Therapeutics in the 2nd quarter valued at about $143,000. Finally, Kennedy Capital Management LLC acquired a new stake in shares of Apogee Therapeutics in the 1st quarter valued at about $212,000. Hedge funds and other institutional investors own 79.04% of the company's stock.

Apogee Therapeutics Stock Up 2.6 %

Apogee Therapeutics stock traded up $1.19 during midday trading on Tuesday, reaching $46.52. The company's stock had a trading volume of 341,046 shares, compared to its average volume of 494,300. The business has a 50-day simple moving average of $54.74 and a 200-day simple moving average of $48.93. Apogee Therapeutics has a fifty-two week low of $16.39 and a fifty-two week high of $72.29.

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.