Apogee Therapeutics (NASDAQ:APGE) Trading Down 5.7% - What's Next?

Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE - Get Free Report) traded down 5.7% during trading on Tuesday . The company traded as low as $31.74 and last traded at $30.46. 89,429 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 491,201 shares. The stock had previously closed at $32.30.

Analyst Ratings Changes

A number of analysts recently commented on APGE shares. Citigroup started coverage on shares of Apogee Therapeutics in a research report on Thursday, March 13th. They issued a "buy" rating and a $95.00 price objective for the company. Wedbush reiterated an "outperform" rating and set a $90.00 target price on shares of Apogee Therapeutics in a report on Tuesday, March 11th. Finally, Guggenheim reaffirmed 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, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $92.17.

Apogee Therapeutics Trading Up 6.2 %

The business has a 50 day moving average of $35.81 and a two-hundred day moving average of $44.27. The firm has a market cap of $1.43 billion, a P/E ratio of -13.14 and a beta of 1.72.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last issued its quarterly earnings data on Monday, March 3rd. The company reported ($1.19) EPS for the quarter, missing analysts' consensus estimates of ($0.94) by ($0.25). On average, sell-side analysts predict that Apogee Therapeutics, Inc. will post -3.09 EPS for the current year.

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Insider Buying and Selling at Apogee Therapeutics

In other news, insider Carl Dambkowski sold 3,860 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $36.22, for a total transaction of $139,809.20. Following the completion of the sale, the insider now owns 247,173 shares of the company's stock, valued at approximately $8,952,606.06. This represents a 1.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Thomas Henderson sold 15,000 shares of Apogee Therapeutics stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $40.58, for a total transaction of $608,700.00. Following the completion of the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. Insiders sold 33,970 shares of company stock valued at $1,241,701 in the last quarter. Company insiders own 36.10% of the company's stock.

Institutional Investors Weigh In On Apogee Therapeutics

A number of large investors have recently modified their holdings of APGE. Mercer Global Advisors Inc. ADV acquired a new position in Apogee Therapeutics in the 4th quarter valued at approximately $32,621,000. Janus Henderson Group PLC raised its position in Apogee Therapeutics by 141.7% during the 4th quarter. Janus Henderson Group PLC now owns 1,135,100 shares of the company's stock worth $51,455,000 after purchasing an additional 665,543 shares during the last quarter. Paradigm Biocapital Advisors LP lifted its holdings in Apogee Therapeutics by 82.9% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 1,283,766 shares of the company's stock worth $58,155,000 after buying an additional 581,949 shares during the period. Jefferies Financial Group Inc. increased its stake in shares of Apogee Therapeutics by 140.4% in the fourth quarter. Jefferies Financial Group Inc. now owns 887,497 shares of the company's stock valued at $40,204,000 after buying an additional 518,300 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Apogee Therapeutics by 38.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,052,595 shares of the company's stock worth $47,683,000 after acquiring an additional 294,514 shares during the last quarter. Institutional investors and hedge funds 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.