Apogee Therapeutics (NASDAQ:APGE) Now Covered by Citigroup

Investment analysts at Citigroup began coverage on shares of Apogee Therapeutics (NASDAQ:APGE - Get Free Report) in a report released on Thursday,Briefing.com Automated Import reports. The firm set a "buy" rating and a $95.00 price target on the stock. Citigroup's price target would indicate a potential upside of 146.56% from the company's current price.

Other equities research analysts also recently issued reports about the company. Canaccord Genuity Group began coverage on Apogee Therapeutics in a report on Monday, November 25th. They issued a "buy" rating and a $89.00 price target for the company. Wedbush reiterated an "outperform" rating and issued a $90.00 price target on shares of Apogee Therapeutics in a report on Tuesday. Canaccord Genuity Group assumed coverage on Apogee Therapeutics in a research note on Monday, November 25th. They set a "buy" rating and a $89.00 price objective for the company. Finally, Guggenheim restated a "buy" rating on shares of Apogee Therapeutics in a research note on Monday, February 10th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $92.17.

Apogee Therapeutics Trading Down 4.3 %

Shares of NASDAQ APGE opened at $38.53 on Thursday. Apogee Therapeutics has a twelve month low of $29.10 and a twelve month high of $72.29. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of -15.92 and a beta of 2.46. The business has a 50 day simple moving average of $38.55 and a 200-day simple moving average of $46.71.

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Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last issued its quarterly earnings results on Monday, March 3rd. The company reported ($1.19) earnings per share for the quarter, missing analysts' consensus estimates of ($0.94) by ($0.25). As a group, equities analysts predict that Apogee Therapeutics will post -3.09 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Carl Dambkowski sold 4,085 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $46.94, for a total value of $191,749.90. Following the completion of the transaction, the insider now owns 255,348 shares of the company's stock, valued at approximately $11,986,035.12. This represents a 1.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Michael Thomas Henderson sold 15,000 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $48.85, for a total value of $732,750.00. Following the completion of the transaction, the chief executive officer now directly owns 1,309,487 shares of the company's stock, valued at approximately $63,968,439.95. The trade was a 1.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,195 shares of company stock worth $2,026,392 in the last three months. 36.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP grew its stake in shares of Apogee Therapeutics by 35.7% in the third quarter. Wellington Management Group LLP now owns 4,814,400 shares of the company's stock worth $282,798,000 after purchasing an additional 1,267,451 shares in the last quarter. Driehaus Capital Management LLC lifted its holdings in shares of Apogee Therapeutics by 2.8% in the fourth quarter. Driehaus Capital Management LLC now owns 2,605,310 shares of the company's stock valued at $118,021,000 after buying an additional 71,703 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Apogee Therapeutics by 13.5% in the fourth quarter. Alliancebernstein L.P. now owns 1,355,185 shares of the company's stock valued at $61,390,000 after buying an additional 160,822 shares during the period. Paradigm Biocapital Advisors LP lifted its holdings in shares of Apogee Therapeutics by 82.9% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 1,283,766 shares of the company's stock valued at $58,155,000 after buying an additional 581,949 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in shares of Apogee Therapeutics by 141.7% in the fourth quarter. Janus Henderson Group PLC now owns 1,135,100 shares of the company's stock valued at $51,455,000 after buying an additional 665,543 shares during the period. Institutional investors own 79.04% of the company's stock.

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.

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