Apogee Therapeutics, Inc. (NASDAQ:APGE) Receives Consensus Rating of "Buy" from Brokerages

Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE - Get Free Report) have been assigned a consensus recommendation of "Buy" from the six analysts that are presently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokerages that have covered the stock in the last year is $78.50.

Separately, Wedbush reiterated an "outperform" rating and set a $87.00 target price on shares of Apogee Therapeutics in a report on Friday.

Insider Activity

In other Apogee Therapeutics news, insider Carl Dambkowski sold 6,665 shares of the business's stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $56.26, for a total value of $374,972.90. Following the sale, the insider now directly owns 274,128 shares of the company's stock, valued at approximately $15,422,441.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Apogee Therapeutics news, insider Carl Dambkowski sold 6,665 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $56.26, for a total transaction of $374,972.90. Following the sale, the insider now directly owns 274,128 shares in the company, valued at approximately $15,422,441.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Jane Henderson sold 6,000 shares of the business's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $48.26, for a total transaction of $289,560.00. Following the transaction, the chief financial officer now directly owns 200,871 shares of the company's stock, valued at $9,694,034.46. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 146,665 shares of company stock worth $7,058,635. Insiders own 36.10% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of APGE. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Apogee Therapeutics by 21.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,628 shares of the company's stock worth $94,000 after purchasing an additional 285 shares in the last quarter. EntryPoint Capital LLC raised its stake in shares of Apogee Therapeutics by 44.7% in the first quarter. EntryPoint Capital LLC now owns 1,997 shares of the company's stock worth $133,000 after buying an additional 617 shares during the period. Kennedy Capital Management LLC purchased a new position in shares of Apogee Therapeutics during the 1st quarter valued at about $212,000. Allspring Global Investments Holdings LLC bought a new position in shares of Apogee Therapeutics during the 2nd quarter valued at approximately $143,000. Finally, Ameritas Investment Partners Inc. increased its holdings in Apogee Therapeutics by 111.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 4,126 shares of the company's stock worth $274,000 after acquiring an additional 2,172 shares in the last quarter. Institutional investors own 79.04% of the company's stock.

Apogee Therapeutics Stock Performance

Shares of NASDAQ APGE traded up $1.28 during trading hours on Friday, hitting $53.23. The company's stock had a trading volume of 207,443 shares, compared to its average volume of 500,872. The business has a 50-day simple moving average of $52.53 and a 200-day simple moving average of $48.50. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of -10.17 and a beta of 2.75. Apogee Therapeutics has a 12 month low of $14.19 and a 12 month high of $72.29.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last announced its earnings results on Monday, August 12th. The company reported ($0.60) EPS for the quarter, meeting analysts' consensus estimates of ($0.60). On average, equities research analysts forecast that Apogee Therapeutics will post -2.57 EPS for the current year.

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.