Apogee Therapeutics (NASDAQ:APGE) Hits New 12-Month Low After Earnings Miss

Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE - Get Free Report) reached a new 52-week low on Tuesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $29.15 and last traded at $29.20, with a volume of 199917 shares changing hands. The stock had previously closed at $31.39.

The company reported ($1.19) EPS for the quarter, missing analysts' consensus estimates of ($0.94) by ($0.25).

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on APGE shares. 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 price objective for the company. Canaccord Genuity Group initiated coverage on Apogee Therapeutics in a report on Monday, November 25th. They set a "buy" rating and a $89.00 price target on the stock. Guggenheim reaffirmed a "buy" rating on shares of Apogee Therapeutics in a research note on Monday, February 10th. Finally, Wedbush reissued an "outperform" rating and issued a $90.00 target price on shares of Apogee Therapeutics in a research note on Monday, March 3rd. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $91.60.

Insider Buying and Selling

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 15,000 shares of the company's stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $48.85, for a total value of $732,750.00. Following the transaction, the chief executive officer now directly owns 1,309,487 shares in the company, valued at $63,968,439.95. This represents a 1.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Carl Dambkowski sold 4,540 shares of the firm's stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $48.76, for a total transaction of $221,370.40. Following the transaction, the insider now directly owns 258,073 shares in the company, valued at approximately $12,583,639.48. This trade represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 53,735 shares of company stock valued at $2,247,762. Insiders own 36.10% of the company's stock.

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Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. GF Fund Management CO. LTD. bought a new stake in Apogee Therapeutics during the 4th quarter valued at $43,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Apogee Therapeutics in the third quarter valued at about $71,000. Wexford Capital LP purchased a new stake in Apogee Therapeutics in the third quarter worth about $230,000. Optimize Financial Inc purchased a new stake in Apogee Therapeutics in the fourth quarter worth about $203,000. Finally, Aigen Investment Management LP bought a new position in Apogee Therapeutics during the 4th quarter worth about $216,000. Institutional investors own 79.04% of the company's stock.

Apogee Therapeutics Trading Up 2.0 %

The business's 50-day simple moving average is $39.12 and its 200 day simple moving average is $47.02. The firm has a market cap of $1.63 billion, a PE ratio of -14.93 and a beta of 2.46.

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.