Apogee Therapeutics (NASDAQ:APGE) Stock Price Down 4.6% - Should You Sell?

Apogee Therapeutics, Inc. (NASDAQ:APGE - Get Free Report) shares traded down 4.6% on Thursday . The company traded as low as $38.06 and last traded at $38.60. 257,177 shares were traded during mid-day trading, a decline of 50% from the average session volume of 513,198 shares. The stock had previously closed at $40.46.

Analysts Set New Price Targets

APGE has been the subject of a number of research reports. Canaccord Genuity Group began coverage on Apogee Therapeutics in a research note on Monday, November 25th. They issued a "buy" rating and a $89.00 price target for the company. Guggenheim restated a "buy" rating on shares of Apogee Therapeutics in a report on Thursday, December 12th. Canaccord Genuity Group started 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 boosted their price target on shares of Apogee Therapeutics from $87.00 to $90.00 and gave the company an "outperform" rating in a research note on Monday, December 2nd. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $89.71.

Apogee Therapeutics Trading Up 1.0 %

The company has a market capitalization of $1.67 billion, a PE ratio of -15.31 and a beta of 2.26. The stock's fifty day moving average is $46.46 and its two-hundred day moving average is $48.92.

Insiders Place Their Bets

In related news, insider Carl Dambkowski sold 6,665 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $46.07, for a total value of $307,056.55. Following the sale, the insider now owns 260,798 shares in the company, valued at approximately $12,014,963.86. This trade represents a 2.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mark C. Mckenna bought 20,000 shares of the company's stock in a transaction on Thursday, December 12th. The shares were bought at an average price of $49.54 per share, with a total value of $990,800.00. Following the completion of the transaction, the director now owns 20,000 shares of the company's stock, valued at $990,800. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 66,955 shares of company stock worth $3,433,962 over the last quarter. 36.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of APGE. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Apogee Therapeutics in the third quarter worth approximately $71,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in 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 bought a new stake in Apogee Therapeutics during the third quarter worth about $230,000. Intech Investment Management LLC bought a new position in shares of Apogee Therapeutics during the third quarter valued at approximately $300,000. Finally, Valence8 US LP purchased a new position in shares of Apogee Therapeutics during the third quarter valued at approximately $308,000. 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.