Apogee Therapeutics, Inc. (NASDAQ:APGE) Given Average Rating of "Buy" by Analysts

Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE - Get Free Report) have been assigned an average rating of "Buy" from the seven brokerages that are covering the firm, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy rating. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $89.71.

APGE has been the topic of a number of research reports. Canaccord Genuity Group assumed coverage on Apogee Therapeutics in a research note 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. Guggenheim reissued a "buy" rating on shares of Apogee Therapeutics in a report on Thursday, December 12th. Finally, Wedbush raised their price objective on shares of Apogee Therapeutics from $87.00 to $90.00 and gave the company an "outperform" rating in a research report on Monday, December 2nd.

Apogee Therapeutics Stock Up 2.1 %

NASDAQ:APGE traded up $0.85 during midday trading on Friday, hitting $41.33. The stock had a trading volume of 387,556 shares, compared to its average volume of 515,968. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of -17.08 and a beta of 2.18. The stock has a 50-day moving average of $44.42 and a 200 day moving average of $48.65. Apogee Therapeutics has a one year low of $33.14 and a one year high of $72.29.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last issued its quarterly 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, sell-side analysts anticipate that Apogee Therapeutics will post -3.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Apogee Therapeutics news, Director Mark C. Mckenna purchased 20,000 shares of the company's stock in a transaction dated Thursday, December 12th. The shares were bought at an average price of $49.54 per share, for a total transaction of $990,800.00. Following the purchase, the director now directly owns 20,000 shares in the company, valued at $990,800. This trade represents a ∞ increase in their position. The purchase 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 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. This trade represents a 2.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,290 shares of company stock worth $2,151,627. Insiders own 36.10% of the company's stock.

Institutional Investors Weigh In On Apogee Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC increased its stake in Apogee Therapeutics by 142.0% in the second quarter. Squarepoint Ops LLC now owns 44,022 shares of the company's stock valued at $1,732,000 after purchasing an additional 25,829 shares in the last quarter. AQR Capital Management LLC bought a new stake in Apogee Therapeutics during the second quarter worth $454,000. SG Americas Securities LLC bought a new stake in Apogee Therapeutics during the third quarter worth $475,000. Handelsbanken Fonder AB raised its position in shares of Apogee Therapeutics by 25.7% in the third quarter. Handelsbanken Fonder AB now owns 8,800 shares of the company's stock valued at $517,000 after purchasing an additional 1,800 shares during the period. Finally, Waypoint Capital Advisors LLC bought a new position in shares of Apogee Therapeutics in the third quarter valued at about $36,835,000. Institutional investors and hedge funds 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.