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

Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE - Get Free Report) have been given an average rating of "Buy" by the six brokerages that are currently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a buy rating. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $92.17.

Several equities research analysts have weighed in on the stock. Citigroup began coverage on shares of Apogee Therapeutics in a research report on Thursday, March 13th. They set a "buy" rating and a $95.00 price target for the company. Guggenheim reissued a "buy" rating on shares of Apogee Therapeutics in a research note on Monday, February 10th. Finally, Wedbush restated an "outperform" rating and set a $90.00 price target on shares of Apogee Therapeutics in a report on Tuesday, March 11th.

Insiders Place Their Bets

In related news, CEO Michael Thomas Henderson sold 15,000 shares of the company's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $40.58, for a total value of $608,700.00. Following the sale, the chief executive officer now owns 1,302,987 shares in the company, valued at $52,875,212.46. This represents a 1.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Carl Dambkowski sold 3,520 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $40.69, for a total value of $143,228.80. Following the transaction, the insider now directly owns 252,623 shares of the company's stock, valued at approximately $10,279,229.87. This trade represents a 1.37 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,970 shares of company stock worth $1,241,701. Company insiders own 36.10% of the company's stock.

Hedge Funds Weigh In On Apogee Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC increased its stake in Apogee Therapeutics by 369.2% during the 3rd quarter. Barclays PLC now owns 365,046 shares of the company's stock valued at $21,443,000 after purchasing an additional 287,243 shares in the last quarter. Geode Capital Management LLC lifted its position in Apogee Therapeutics by 11.2% in the 3rd quarter. Geode Capital Management LLC now owns 823,839 shares of the company's stock valued at $48,401,000 after acquiring an additional 82,978 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Apogee Therapeutics by 4.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 29,555 shares of the company's stock valued at $1,736,000 after purchasing an additional 1,212 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Apogee Therapeutics by 22.2% in the 4th quarter. SG Americas Securities LLC now owns 9,890 shares of the company's stock worth $448,000 after purchasing an additional 1,796 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its stake in shares of Apogee Therapeutics by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,547 shares of the company's stock worth $432,000 after purchasing an additional 892 shares during the last quarter. 79.04% of the stock is currently owned by institutional investors.

Apogee Therapeutics Price Performance

Shares of APGE opened at $33.11 on Friday. Apogee Therapeutics has a 1-year low of $26.20 and a 1-year high of $63.50. The company has a market capitalization of $1.49 billion, a P/E ratio of -13.68 and a beta of 1.72. The firm's 50 day simple moving average is $35.20 and its 200 day simple moving average is $43.67.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last released 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). On average, equities analysts anticipate that Apogee Therapeutics will post -3.09 earnings per share for the current year.

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.

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