Brokerages Set Apogee Therapeutics, Inc. (NASDAQ:APGE) Target Price at $83.88

Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE - Get Free Report) have received an average recommendation of "Buy" from the eight brokerages that are currently covering the company, Marketbeat.com reports. Eight investment analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have covered the stock in the last year is $83.88.

Several equities research analysts have issued reports on the stock. 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 objective for the company. Wedbush boosted their price objective on Apogee Therapeutics from $87.00 to $90.00 and gave the company an "outperform" rating in a report on Monday, December 2nd. Canaccord Genuity Group began coverage on Apogee Therapeutics in a research note on Monday, November 25th. They issued a "buy" rating and a $89.00 target price for the company. Finally, Guggenheim restated a "buy" rating on shares of Apogee Therapeutics in a research report on Thursday.

Apogee Therapeutics Stock Up 0.4 %

Shares of APGE traded up $0.18 during mid-day trading on Friday, reaching $44.50. 692,234 shares of the company's stock were exchanged, compared to its average volume of 504,108. The company has a 50-day simple moving average of $51.43 and a two-hundred day simple moving average of $48.28. Apogee Therapeutics has a 52-week low of $20.78 and a 52-week high of $72.29. The company has a market cap of $2.00 billion, a price-to-earnings ratio of -18.39 and a beta of 2.30.

Insider Activity

In other Apogee Therapeutics news, insider Carl Dambkowski sold 4,540 shares of the business's stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $48.76, for a total value of $221,370.40. Following the sale, the insider now owns 258,073 shares of the company's stock, valued at $12,583,639.48. The trade was a 1.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael Thomas Henderson sold 40,000 shares of the firm's stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $56.23, for a total transaction of $2,249,200.00. Following the transaction, the chief executive officer now directly owns 1,354,487 shares of the company's stock, valued at $76,162,804.01. The trade was a 2.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 94,535 shares of company stock valued at $5,133,635. Insiders own 36.10% of the company's stock.

Institutional Trading of Apogee Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its position in shares of Apogee Therapeutics by 11.2% during the 3rd quarter. Geode Capital Management LLC now owns 823,839 shares of the company's stock worth $48,401,000 after buying an additional 82,978 shares during the period. Barclays PLC lifted its position in shares of Apogee Therapeutics by 369.2% in the third quarter. Barclays PLC now owns 365,046 shares of the company's stock worth $21,443,000 after purchasing an additional 287,243 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Apogee Therapeutics by 35.7% during the 3rd 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 during the last quarter. Wexford Capital LP bought a new position in Apogee Therapeutics in the third quarter valued at approximately $230,000. Finally, Point72 DIFC Ltd grew its stake in shares of Apogee Therapeutics by 14.5% in the third quarter. Point72 DIFC Ltd now owns 19,207 shares of the company's stock valued at $1,128,000 after buying an additional 2,428 shares in the last quarter. 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.