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

Guggenheim reiterated their buy rating on shares of Apogee Therapeutics (NASDAQ:APGE) in a research note issued to investors on Monday,Benzinga reports.

Several other brokerages have also commented on APGE. Canaccord Genuity Group started coverage on shares of Apogee Therapeutics in a research report on Monday, November 25th. They issued a “buy” rating and a $89.00 price objective for the company. Canaccord Genuity Group began coverage on shares of Apogee Therapeutics in a report on Monday, November 25th. They issued a “buy” rating and a $89.00 price target for the company. Finally, Wedbush boosted their price objective 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. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $89.71.

Apogee Therapeutics Trading Down 0.9 %

Shares of APGE stock opened at $39.35 on Monday. Apogee Therapeutics has a 12-month low of $33.14 and a 12-month high of $72.29. The business’s fifty day simple moving average is $44.11 and its 200-day simple moving average is $48.45. The company has a market cap of $1.77 billion, a PE ratio of -16.26 and a beta of 2.18.

Apogee Therapeutics (NASDAQ:APGE) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.86) EPS for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.13). On average, equities analysts forecast that Apogee Therapeutics will post -3.09 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Carl Dambkowski sold 4,540 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $48.76, for a total transaction of $221,370.40. Following the sale, the insider now owns 258,073 shares of the company’s stock, valued at $12,583,639.48. This trade represents a 1.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Thomas Henderson sold 15,000 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $40.58, for a total transaction of $608,700.00. Following the completion of the transaction, the chief executive officer now owns 1,302,987 shares of the company’s stock, valued at approximately $52,875,212.46. This represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,810 shares of company stock valued at $2,903,556 over the last 90 days. Insiders own 36.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Apogee Therapeutics during the 3rd quarter worth approximately $71,000. Mirae Asset Global Investments Co. Ltd. increased 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 worth $94,000 after acquiring an additional 285 shares in the last quarter. Aigen Investment Management LP acquired a new position in Apogee Therapeutics during the fourth quarter worth $216,000. Commonwealth Equity Services LLC purchased a new position in Apogee Therapeutics during the fourth quarter valued at $222,000. Finally, Wexford Capital LP acquired a new stake in shares of Apogee Therapeutics in the third quarter valued at about $230,000. Hedge funds and other 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.