Apogee Therapeutics (NASDAQ:APGE) Now Covered by Analysts at Canaccord Genuity Group

Equities researchers at Canaccord Genuity Group started coverage on shares of Apogee Therapeutics (NASDAQ:APGE - Get Free Report) in a research report issued on Monday, Marketbeat reports. The brokerage set a "buy" rating and a $89.00 price target on the stock. Canaccord Genuity Group's price target would suggest a potential upside of 102.32% from the stock's previous close.

APGE has been the topic of a number of other research reports. Wedbush reissued an "outperform" rating and issued a $87.00 price objective on shares of Apogee Therapeutics in a research note on Tuesday, November 12th. Canaccord Genuity Group started coverage on Apogee Therapeutics in a report on Monday. They issued a "buy" rating and a $89.00 target price for the company. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Apogee Therapeutics presently has a consensus rating of "Buy" and a consensus target price of $81.13.

Apogee Therapeutics Trading Up 1.2 %

Shares of Apogee Therapeutics stock traded up $0.53 during trading hours on Monday, reaching $43.99. The stock had a trading volume of 403,127 shares, compared to its average volume of 493,263. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of -18.38 and a beta of 2.93. Apogee Therapeutics has a 1 year low of $16.39 and a 1 year high of $72.29. The firm has a 50 day simple moving average of $54.29 and a two-hundred day simple moving average of $48.70.

Insider Buying and Selling

In other news, insider Carl Dambkowski sold 6,665 shares of the company's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $59.12, for a total value of $394,034.80. Following the sale, the insider now directly owns 267,463 shares of the company's stock, valued at $15,812,412.56. This represents a 2.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Thomas Henderson sold 15,000 shares of the company's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $59.22, for a total transaction of $888,300.00. Following the transaction, the chief executive officer now owns 1,339,487 shares of the company's stock, valued at $79,324,420.14. This represents a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 114,995 shares of company stock valued at $6,128,295. Company insiders own 36.10% of the company's stock.

Institutional Investors Weigh In On Apogee Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Arizona State Retirement System boosted its holdings in Apogee Therapeutics by 4.5% in the 2nd quarter. Arizona State Retirement System now owns 5,993 shares of the company's stock worth $236,000 after acquiring an additional 258 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Apogee Therapeutics by 21.2% in 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 during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Apogee Therapeutics during the third quarter valued at approximately $71,000. Principal Financial Group Inc. lifted its stake in Apogee Therapeutics by 26.3% in the second quarter. Principal Financial Group Inc. now owns 6,442 shares of the company's stock valued at $253,000 after acquiring an additional 1,340 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in Apogee Therapeutics by 25.7% in the third quarter. Handelsbanken Fonder AB now owns 8,800 shares of the company's stock valued at $517,000 after acquiring an additional 1,800 shares during the last quarter. 79.04% of the stock is currently owned by hedge funds and other 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.