Apogee Therapeutics (NASDAQ:APGE) Stock Price Down 3.2% - What's Next?

Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE - Get Free Report) fell 3.2% during trading on Friday . The stock traded as low as $45.51 and last traded at $45.51. 53,502 shares changed hands during trading, a decline of 89% from the average session volume of 501,829 shares. The stock had previously closed at $47.02.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Wedbush increased their price target on shares of Apogee Therapeutics from $87.00 to $90.00 and gave the company an "outperform" rating in a report on Monday, December 2nd. Canaccord Genuity Group began coverage on Apogee Therapeutics in a research note on Monday, November 25th. They set a "buy" rating and a $89.00 target price on the stock. Guggenheim restated a "buy" rating on shares of Apogee Therapeutics in a research note on Thursday, December 12th. Finally, Canaccord Genuity Group assumed coverage on Apogee Therapeutics in a research report on Monday, November 25th. They set a "buy" rating and a $89.00 price objective on the stock. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $83.88.

Apogee Therapeutics Trading Up 1.5 %

The stock has a market capitalization of $2.15 billion, a P/E ratio of -19.71 and a beta of 2.30. The business has a 50-day moving average price of $50.78 and a two-hundred day moving average price of $48.29.

Insider Buying and Selling

In other Apogee Therapeutics news, Director Mark C. Mckenna purchased 20,000 shares of the firm's stock in a transaction dated Thursday, December 12th. The shares were bought at an average price of $49.54 per share, for a total transaction of $990,800.00. Following the purchase, the director now owns 20,000 shares in the company, valued at approximately $990,800. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Thomas Henderson sold 40,000 shares of the business's stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $56.23, for a total value of $2,249,200.00. Following the transaction, the chief executive officer now directly owns 1,354,487 shares of the company's stock, valued at $76,162,804.01. This trade represents a 2.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 94,535 shares of company stock valued at $5,133,635 over the last quarter. 36.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Apogee Therapeutics during the third quarter worth $71,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Apogee Therapeutics by 21.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,628 shares of the company's stock valued at $94,000 after acquiring an additional 285 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Apogee Therapeutics during the 2nd quarter worth $143,000. Wexford Capital LP acquired a new position in Apogee Therapeutics in the 3rd quarter worth about $230,000. Finally, Arizona State Retirement System raised its position in Apogee Therapeutics by 4.5% in the second quarter. Arizona State Retirement System now owns 5,993 shares of the company's stock valued at $236,000 after purchasing an additional 258 shares during the last quarter. Institutional investors own 79.04% of the company's stock.

About Apogee Therapeutics

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.