Apogee Therapeutics (NASDAQ:APGE) Trading 4.5% Higher - Here's Why

Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE - Get Free Report) rose 4.5% during mid-day trading on Monday . The stock traded as high as $37.52 and last traded at $37.77. Approximately 521,355 shares traded hands during mid-day trading, an increase of 6% from the average daily volume of 491,645 shares. The stock had previously closed at $36.14.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on APGE. Wedbush reiterated an "outperform" rating and set a $90.00 target price on shares of Apogee Therapeutics in a research note on Tuesday. 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 for the company. Canaccord Genuity Group initiated coverage on Apogee Therapeutics in a research report on Monday, November 25th. They issued a "buy" rating and a $89.00 target price on the stock. Finally, Guggenheim reaffirmed a "buy" rating on shares of Apogee Therapeutics in a research report on Monday, February 10th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Apogee Therapeutics has an average rating of "Buy" and a consensus price target of $91.60.

Apogee Therapeutics Trading Up 0.3 %

The firm has a 50 day moving average price of $38.68 and a 200 day moving average price of $46.77. The stock has a market capitalization of $1.82 billion, a PE ratio of -16.70 and a beta of 2.46.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last posted its quarterly earnings data on Monday, March 3rd. The company reported ($1.19) EPS for the quarter, missing the consensus estimate of ($0.94) by ($0.25). On average, equities research analysts expect 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 Apogee Therapeutics news, CEO Michael Thomas Henderson sold 15,000 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $48.85, for a total value of $732,750.00. Following the completion of the sale, the chief executive officer now owns 1,309,487 shares in the company, valued at approximately $63,968,439.95. This represents a 1.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mark C. Mckenna acquired 20,000 shares of the stock in a transaction dated Thursday, December 12th. The stock was acquired at an average price of $49.54 per share, for a total transaction of $990,800.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company's stock, valued at approximately $990,800. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 49,195 shares of company stock valued at $2,026,392 over the last 90 days. 36.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Apogee Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. bought a new position in Apogee Therapeutics in the 4th quarter worth approximately $43,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Apogee Therapeutics in the third quarter worth $71,000. Wexford Capital LP bought a new position in shares of Apogee Therapeutics during the third quarter worth $230,000. Optimize Financial Inc purchased a new position in Apogee Therapeutics during the fourth quarter valued at $203,000. Finally, Aigen Investment Management LP bought a new stake in Apogee Therapeutics in the 4th quarter valued at $216,000. Institutional investors 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.