Apogee Therapeutics, Inc. (NASDAQ:APGE) Receives $83.88 Consensus Target Price from Analysts

Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) have been assigned a consensus rating of “Buy” from the eight ratings firms that are currently covering the stock, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $83.88.

A number of research firms have weighed in on APGE. Guggenheim reaffirmed a “buy” rating on shares of Apogee Therapeutics in a report on Thursday, December 12th. Canaccord Genuity Group began coverage on Apogee Therapeutics in a research note on Monday, November 25th. They issued a “buy” rating and a $89.00 price target for the company. Wedbush upped their price target on Apogee Therapeutics from $87.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Finally, Canaccord Genuity Group initiated coverage on Apogee Therapeutics in a report on Monday, November 25th. They issued a “buy” rating and a $89.00 price objective on the stock.

Apogee Therapeutics Price Performance

NASDAQ:APGE opened at $44.69 on Friday. The company has a 50 day moving average price of $50.92 and a 200-day moving average price of $48.30. Apogee Therapeutics has a 1-year low of $22.20 and a 1-year high of $72.29. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of -18.47 and a beta of 2.30.

Insider Activity at Apogee Therapeutics

In related news, CEO Michael Thomas Henderson sold 15,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $46.58, for a total value of $698,700.00. Following the completion of the sale, the chief executive officer now owns 1,324,487 shares of the company’s stock, valued at approximately $61,694,604.46. This trade represents a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the insider now directly owns 274,128 shares in the company, valued at $15,422,441.28. This trade represents a 2.37 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 94,535 shares of company stock valued at $5,133,635. 36.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Apogee Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of APGE. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Apogee Therapeutics in the 3rd quarter valued at $71,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in 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 valued at $94,000 after buying an additional 285 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Apogee Therapeutics in the second quarter valued at about $143,000. Wexford Capital LP purchased a new position in Apogee Therapeutics during the third quarter worth about $230,000. Finally, Arizona State Retirement System increased its position in shares of Apogee Therapeutics by 4.5% during the second quarter. Arizona State Retirement System now owns 5,993 shares of the company’s stock valued at $236,000 after acquiring an additional 258 shares during the last quarter. 79.04% of the stock is currently owned by institutional investors and hedge funds.

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.