Apogee Therapeutics (NASDAQ:APGE) Shares Up 5.5% - Time to Buy?

Apogee Therapeutics, Inc. (NASDAQ:APGE - Get Free Report) shares traded up 5.5% on Wednesday . The company traded as high as $37.59 and last traded at $37.56. 134,217 shares traded hands during trading, a decline of 73% from the average session volume of 491,078 shares. The stock had previously closed at $35.61.

Analyst Upgrades and Downgrades

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

Apogee Therapeutics Stock Performance

The stock has a 50-day moving average of $37.21 and a 200 day moving average of $45.40. The firm has a market capitalization of $1.45 billion, a P/E ratio of -13.35 and a beta of 1.72.

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

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Insider Activity at Apogee Therapeutics

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 15,000 shares of the business's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $40.58, for a total transaction of $608,700.00. Following the completion of the sale, the chief executive officer now directly owns 1,302,987 shares of the company's stock, valued at approximately $52,875,212.46. The trade was a 1.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Carl Dambkowski sold 3,520 shares of the company's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $40.69, for a total transaction of $143,228.80. Following the transaction, the insider now 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 disclosure for this sale can be found here. Insiders sold a total of 48,970 shares of company stock valued at $1,974,451 over the last quarter. Corporate insiders own 36.10% of the company's stock.

Hedge Funds Weigh In On Apogee Therapeutics

Several large investors have recently bought and sold shares of the business. GF Fund Management CO. LTD. bought a new stake in shares of Apogee Therapeutics during the 4th quarter valued at $43,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Apogee Therapeutics in the third quarter valued at about $71,000. GAMMA Investing LLC boosted its holdings in Apogee Therapeutics by 3,560.1% during the first quarter. GAMMA Investing LLC now owns 5,417 shares of the company's stock worth $202,000 after buying an additional 5,269 shares during the last quarter. Optimize Financial Inc bought a new stake in shares of Apogee Therapeutics in the 4th quarter valued at about $203,000. Finally, Aigen Investment Management LP acquired a new stake in shares of Apogee Therapeutics in the 4th quarter valued at approximately $216,000. 79.04% of the stock is currently owned by institutional investors and hedge funds.

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.