Guggenheim Reaffirms “Buy” Rating for Apogee Therapeutics (NASDAQ:APGE)

Guggenheim reiterated their buy rating on shares of Apogee Therapeutics (NASDAQ:APGE) in a report issued on Thursday,Benzinga reports.

Several other research firms have also weighed in on APGE. Canaccord Genuity Group initiated coverage on shares of Apogee Therapeutics in a report on Monday, November 25th. They set a “buy” rating and a $89.00 target price on the stock. Canaccord Genuity Group started coverage on Apogee Therapeutics in a research report on Monday, November 25th. They issued a “buy” rating and a $89.00 target price for the company. Finally, Wedbush increased their target price on Apogee Therapeutics from $87.00 to $90.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, Apogee Therapeutics presently has an average rating of “Buy” and a consensus target price of $83.88.

Apogee Therapeutics Stock Performance

Apogee Therapeutics stock opened at $44.50 on Thursday. The company has a market cap of $2.00 billion, a price-to-earnings ratio of -18.39 and a beta of 2.30. The firm has a 50 day moving average price of $51.43 and a 200 day moving average price of $48.28. Apogee Therapeutics has a 1 year low of $20.78 and a 1 year high of $72.29.

Insider Transactions at Apogee Therapeutics

In other news, CEO Michael Thomas Henderson sold 40,000 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $56.23, for a total transaction of $2,249,200.00. Following the transaction, the chief executive officer now owns 1,354,487 shares of the company’s stock, valued at approximately $76,162,804.01. This trade represents a 2.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Carl Dambkowski sold 6,665 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $59.12, for a total value of $394,034.80. Following the completion of the sale, the insider now directly owns 267,463 shares of the company’s stock, valued at approximately $15,812,412.56. This represents a 2.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 94,535 shares of company stock valued at $5,133,635. 36.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Apogee Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Apogee Therapeutics in the third quarter worth $71,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Apogee Therapeutics by 21.2% during the third 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 during the period. Allspring Global Investments Holdings LLC bought a new position in shares of Apogee Therapeutics in the 2nd quarter worth about $143,000. Wexford Capital LP acquired a new position in shares of Apogee Therapeutics in the 3rd quarter valued at about $230,000. Finally, Arizona State Retirement System grew its position in shares of Apogee Therapeutics by 4.5% during the 2nd quarter. Arizona State Retirement System now owns 5,993 shares of the company’s stock valued at $236,000 after buying an additional 258 shares during the last quarter. 79.04% of the stock is 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.