Apogee Therapeutics (NASDAQ:APGE) Reaches New 52-Week Low - Time to Sell?

Apogee Therapeutics, Inc. (NASDAQ:APGE - Get Free Report)'s share price reached a new 52-week low on Wednesday . The company traded as low as $33.11 and last traded at $32.90, with a volume of 301217 shares changing hands. The stock had previously closed at $34.93.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on APGE. Guggenheim reissued a "buy" rating on shares of Apogee Therapeutics in a report on Monday, February 10th. 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 on the stock. Canaccord Genuity Group assumed coverage on Apogee Therapeutics in a research note on Monday, November 25th. They issued a "buy" rating and a $89.00 target price for the company. Finally, Wedbush upped their price target on Apogee Therapeutics from $87.00 to $90.00 and gave the company an "outperform" rating in a research report on Monday, December 2nd. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $89.71.

Apogee Therapeutics Price Performance

The company has a 50 day moving average of $41.84 and a 200-day moving average of $47.71. The company has a market cap of $1.56 billion, a P/E ratio of -14.28 and a beta of 2.18.

Insider Buying and Selling at Apogee Therapeutics

In related news, insider Carl Dambkowski sold 3,520 shares of the company's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $40.69, for a total value of $143,228.80. Following the completion of the transaction, the insider now directly owns 252,623 shares in the company, valued at approximately $10,279,229.87. The trade was a 1.37 % decrease in their ownership of the stock. The sale 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 stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $46.58, for a total value of $698,700.00. Following the completion of the transaction, the chief executive officer now directly owns 1,324,487 shares in the company, valued at approximately $61,694,604.46. This represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 63,810 shares of company stock valued at $2,903,556 in the last 90 days. Corporate insiders own 36.10% of the company's stock.

Institutional Investors Weigh In On Apogee Therapeutics

Several hedge funds have recently added to or reduced their stakes in APGE. GF Fund Management CO. LTD. purchased a new position in shares of Apogee Therapeutics during the 4th quarter valued at about $43,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Apogee Therapeutics during the third quarter valued at approximately $71,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Apogee Therapeutics by 21.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,628 shares of the company's stock worth $94,000 after acquiring an additional 285 shares in the last quarter. Wexford Capital LP purchased a new position in shares of Apogee Therapeutics during the third quarter worth approximately $230,000. Finally, Optimize Financial Inc bought a new stake in shares of Apogee Therapeutics in the 4th quarter worth approximately $203,000. Institutional investors own 79.04% of the company's stock.

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.