Apogee Therapeutics (NASDAQ:APGE) Reaches New 12-Month Low - Here's Why

Apogee Therapeutics, Inc. (NASDAQ:APGE - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $26.20 and last traded at $28.79, with a volume of 1516692 shares trading hands. The stock had previously closed at $32.30.

Analysts Set New Price Targets

A number of research analysts have recently commented on APGE shares. Guggenheim reissued a "buy" rating on shares of Apogee Therapeutics in a report on Monday, February 10th. Citigroup assumed coverage on shares of Apogee Therapeutics in a report on Thursday, March 13th. They set a "buy" rating and a $95.00 price target for the company. Finally, Wedbush reissued an "outperform" rating and set a $90.00 price target on shares of Apogee Therapeutics in a research note on Tuesday, March 11th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $92.17.

Apogee Therapeutics Stock Up 2.1 %

The firm has a market cap of $1.46 billion, a P/E ratio of -13.42 and a beta of 1.72. The business's 50 day moving average is $35.81 and its two-hundred day moving average is $44.18.

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 the consensus estimate of ($0.94) by ($0.25). Equities research analysts anticipate that Apogee Therapeutics, Inc. will post -3.09 EPS for the current year.

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Insider Activity

In other news, CEO Michael Thomas Henderson sold 15,000 shares of the firm'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 transaction, the chief executive officer now owns 1,302,987 shares in the company, valued at $52,875,212.46. This trade represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Carl Dambkowski sold 3,520 shares of the company's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $40.69, for a total value of $143,228.80. Following the sale, the insider now owns 252,623 shares of the company's stock, valued at $10,279,229.87. This trade represents a 1.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,970 shares of company stock worth $1,241,701 over the last quarter. 36.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Apogee Therapeutics

A number of institutional investors have recently added to or reduced their stakes in APGE. GF Fund Management CO. LTD. purchased a new position in shares of Apogee Therapeutics in the 4th quarter worth approximately $43,000. GAMMA Investing LLC boosted its position in Apogee Therapeutics by 3,560.1% in the first quarter. GAMMA Investing LLC now owns 5,417 shares of the company's stock worth $202,000 after purchasing an additional 5,269 shares during the last quarter. Optimize Financial Inc bought a new position in Apogee Therapeutics in the 4th quarter valued at $203,000. Aigen Investment Management LP purchased a new stake in shares of Apogee Therapeutics during the 4th quarter valued at $216,000. Finally, BNP Paribas Financial Markets bought a new stake in shares of Apogee Therapeutics during the 4th quarter worth $219,000. 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.