Apogee Therapeutics, Inc. (NASDAQ:APGE) Sees Large Increase in Short Interest

Apogee Therapeutics, Inc. (NASDAQ:APGE - Get Free Report) saw a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 7,360,000 shares, a growth of 11.2% from the November 15th total of 6,620,000 shares. Approximately 20.3% of the company's stock are short sold. Based on an average daily volume of 458,200 shares, the short-interest ratio is currently 16.1 days.

Apogee Therapeutics Stock Performance

Shares of NASDAQ APGE traded up $0.18 during midday trading on Friday, reaching $44.50. 692,234 shares of the company traded hands, compared to its average volume of 504,108. The stock's 50-day simple moving average is $51.43 and its 200-day simple moving average is $48.28. Apogee Therapeutics has a 12 month low of $20.78 and a 12 month high of $72.29. The firm has a market cap of $2.00 billion, a PE ratio of -18.39 and a beta of 2.30.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on APGE shares. Wedbush increased their target price 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. Canaccord Genuity Group began coverage on shares of Apogee Therapeutics in a report on Monday, November 25th. They issued a "buy" rating and a $89.00 price objective for the company. Guggenheim reissued a "buy" rating on shares of Apogee Therapeutics in a report on Thursday. Finally, Canaccord Genuity Group started coverage on Apogee Therapeutics in a research note on Monday, November 25th. They set a "buy" rating and a $89.00 price target for the company. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $83.88.

Insider Transactions at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 4,540 shares of Apogee Therapeutics 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Michael Thomas Henderson sold 15,000 shares of Apogee Therapeutics stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $59.22, for a total transaction of $888,300.00. Following the completion of the transaction, the chief executive officer now directly owns 1,339,487 shares of the company's stock, valued at $79,324,420.14. This trade represents a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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.

Hedge Funds Weigh In On Apogee Therapeutics

A number of institutional investors have recently modified their holdings of APGE. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Apogee Therapeutics in the 3rd quarter valued at $71,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Apogee Therapeutics by 21.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,628 shares of the company's stock valued at $94,000 after purchasing an additional 285 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Apogee Therapeutics in the 2nd quarter valued at approximately $143,000. Wexford Capital LP bought a new stake in Apogee Therapeutics during the 3rd quarter worth approximately $230,000. Finally, Arizona State Retirement System raised its holdings in Apogee Therapeutics by 4.5% during the 2nd quarter. Arizona State Retirement System now owns 5,993 shares of the company's stock worth $236,000 after buying an additional 258 shares during the period. 79.04% of the stock is owned by institutional investors.

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.