Brokerages Set Apogee Therapeutics, Inc. (NASDAQ:APGE) Price Target at $92.17

Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE - Get Free Report) have earned an average recommendation of "Buy" from the six analysts that are presently covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have covered the stock in the last year is $92.17.

A number of brokerages have recently weighed in on APGE. Wedbush reissued an "outperform" rating and set a $90.00 price objective on shares of Apogee Therapeutics in a report on Tuesday, March 11th. Guggenheim reissued a "buy" rating on shares of Apogee Therapeutics in a report on Monday, February 10th. Finally, Citigroup initiated coverage on Apogee Therapeutics in a research report on Thursday, March 13th. They set a "buy" rating and a $95.00 price target on the stock.

Apogee Therapeutics Trading Down 2.2 %

Shares of APGE traded down $0.89 during mid-day trading on Monday, hitting $39.25. The company's stock had a trading volume of 523,402 shares, compared to its average volume of 477,929. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of -16.22 and a beta of 2.46. The company's 50-day moving average is $37.47 and its 200-day moving average is $46.11. Apogee Therapeutics has a 52-week low of $29.10 and a 52-week high of $69.40.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last announced its earnings results on Monday, March 3rd. The company reported ($1.19) EPS for the quarter, missing analysts' consensus estimates of ($0.94) by ($0.25). As a group, sell-side analysts predict that Apogee Therapeutics will post -3.09 earnings per share for the current fiscal year.

Remove Ads

Insider Activity

In related news, CEO Michael Thomas Henderson sold 15,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $48.85, for a total transaction of $732,750.00. Following the completion of the transaction, the chief executive officer now owns 1,309,487 shares of the company's stock, valued at approximately $63,968,439.95. This trade represents a 1.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Carl Dambkowski sold 1,590 shares of Apogee Therapeutics stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $30.48, for a total transaction of $48,463.20. Following the completion of the transaction, the insider now owns 251,033 shares of the company's stock, valued at $7,651,485.84. This trade represents a 0.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,195 shares of company stock valued at $2,026,392 in the last 90 days. Company insiders own 36.10% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. acquired a new stake in Apogee Therapeutics during the 4th quarter worth $43,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Apogee Therapeutics in the third quarter valued at $71,000. Wexford Capital LP purchased a new stake in shares of Apogee Therapeutics in the third quarter valued at about $230,000. Optimize Financial Inc acquired a new stake in shares of Apogee Therapeutics during the fourth quarter worth about $203,000. Finally, Aigen Investment Management LP purchased a new position in shares of Apogee Therapeutics during the fourth quarter worth about $216,000. Hedge funds and other 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.