Apogee Therapeutics (NASDAQ:APGE) Coverage Initiated by Analysts at Canaccord Genuity Group

Investment analysts at Canaccord Genuity Group initiated coverage on shares of Apogee Therapeutics (NASDAQ:APGE - Get Free Report) in a research report issued to clients and investors on Monday, Marketbeat reports. The brokerage set a "buy" rating and a $89.00 price target on the stock. Canaccord Genuity Group's target price suggests a potential upside of 102.32% from the company's previous close.

Separately, Wedbush reissued an "outperform" rating and set a $87.00 price objective on shares of Apogee Therapeutics in a report on Tuesday, November 12th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $81.13.

Apogee Therapeutics Trading Up 1.2 %

Shares of APGE stock traded up $0.53 on Monday, hitting $43.99. 403,127 shares of the stock were exchanged, compared to its average volume of 493,263. The firm has a market capitalization of $1.98 billion, a PE ratio of -18.38 and a beta of 2.93. Apogee Therapeutics has a one year low of $16.39 and a one year high of $72.29. The firm's 50 day moving average is $54.29 and its two-hundred day moving average is $48.70.

Insider Activity at Apogee Therapeutics

In other news, insider Carl Dambkowski sold 6,665 shares of Apogee Therapeutics stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $56.26, for a total value of $374,972.90. Following the sale, the insider now directly owns 274,128 shares in the company, valued at approximately $15,422,441.28. This trade represents a 2.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Thomas Henderson sold 40,000 shares of Apogee Therapeutics stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $47.62, for a total value of $1,904,800.00. Following the completion of the sale, the chief executive officer now owns 1,394,487 shares in the company, valued at approximately $66,405,470.94. This represents a 2.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 114,995 shares of company stock valued at $6,128,295. Corporate insiders own 36.10% of the company's stock.

Institutional Investors Weigh In On Apogee Therapeutics

Several hedge funds have recently made changes to their positions in the company. Arizona State Retirement System raised its stake in Apogee Therapeutics by 4.5% during the second quarter. Arizona State Retirement System now owns 5,993 shares of the company's stock valued at $236,000 after buying an additional 258 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Apogee Therapeutics by 21.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,628 shares of the company's stock worth $94,000 after purchasing an additional 285 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Apogee Therapeutics in the third quarter worth $71,000. Principal Financial Group Inc. raised its stake in shares of Apogee Therapeutics by 26.3% in the second quarter. Principal Financial Group Inc. now owns 6,442 shares of the company's stock worth $253,000 after purchasing an additional 1,340 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its position in Apogee Therapeutics by 25.7% in the third quarter. Handelsbanken Fonder AB now owns 8,800 shares of the company's stock worth $517,000 after purchasing an additional 1,800 shares during the last quarter. 79.04% of the stock is currently owned by institutional investors.

About Apogee Therapeutics

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.