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

Apogee Therapeutics, Inc. (NASDAQ:APGE - Get Free Report) has earned an average rating of "Buy" from the seven analysts that are presently covering the stock, Marketbeat reports. Seven research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokerages that have covered the stock in the last year is $89.71.

A number of research firms have recently weighed in on APGE. Wedbush raised their price target on Apogee Therapeutics from $87.00 to $90.00 and gave the stock an "outperform" rating in a research note on Monday, December 2nd. Canaccord Genuity Group started coverage on Apogee Therapeutics in a report on Monday, November 25th. They issued a "buy" rating and a $89.00 price objective on the stock. Guggenheim reiterated a "buy" rating on shares of Apogee Therapeutics in a research note on Thursday, December 12th. Finally, Canaccord Genuity Group started coverage on shares of Apogee Therapeutics in a research note on Monday, November 25th. They set a "buy" rating and a $89.00 price target on the stock.

Insider Buying and Selling

In related news, Director Mark C. Mckenna acquired 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 acquisition, the director now owns 20,000 shares in the company, valued at $990,800. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Carl Dambkowski sold 6,665 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $59.12, for a total transaction of $394,034.80. Following the completion of the sale, the insider now owns 267,463 shares of the company's stock, valued at approximately $15,812,412.56. The trade was a 2.43 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 51,955 shares of company stock valued at $2,701,212. Company insiders own 36.10% of the company's stock.

Institutional Trading of Apogee Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in Apogee Therapeutics by 35.7% during the third quarter. Wellington Management Group LLP now owns 4,814,400 shares of the company's stock worth $282,798,000 after buying an additional 1,267,451 shares in the last quarter. Waypoint Capital Advisors LLC bought a new stake in shares of Apogee Therapeutics in the 3rd quarter valued at approximately $36,835,000. Janus Henderson Group PLC grew its stake in shares of Apogee Therapeutics by 4,018.9% in the 3rd quarter. Janus Henderson Group PLC now owns 469,557 shares of the company's stock valued at $27,586,000 after purchasing an additional 458,157 shares during the period. Point72 Asset Management L.P. raised its holdings in shares of Apogee Therapeutics by 162.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 707,268 shares of the company's stock worth $41,545,000 after buying an additional 438,036 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of Apogee Therapeutics by 369.2% during the 3rd quarter. Barclays PLC now owns 365,046 shares of the company's stock worth $21,443,000 after buying an additional 287,243 shares during the period. 79.04% of the stock is currently owned by institutional investors.

Apogee Therapeutics Stock Performance

Shares of NASDAQ:APGE traded down $0.36 during midday trading on Wednesday, hitting $49.21. 453,119 shares of the stock were exchanged, compared to its average volume of 338,084. The company has a market capitalization of $2.22 billion, a PE ratio of -20.33 and a beta of 2.26. Apogee Therapeutics has a 52-week low of $29.06 and a 52-week high of $72.29. The business's fifty day simple moving average is $48.87 and its two-hundred day simple moving average is $48.90.

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.