Apogee Therapeutics (NASDAQ:APGE) Hits New 52-Week Low After Earnings Miss

Apogee Therapeutics, Inc. (NASDAQ:APGE)’s stock price reached a new 52-week low during trading on Tuesday following a weaker than expected earnings announcement. The company traded as low as $29.15 and last traded at $29.20, with a volume of 199917 shares. The stock had previously closed at $31.39.

The company reported ($1.19) EPS for the quarter, missing the consensus estimate of ($0.94) by ($0.25).

Wall Street Analyst Weigh In

A number of brokerages have commented on APGE. Wedbush reissued an “outperform” rating and issued a $90.00 price objective on shares of Apogee Therapeutics in a research note on Monday. 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 objective for the company. 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 objective for the company. Finally, Guggenheim reissued a “buy” rating on shares of Apogee Therapeutics in a research note on Monday, February 10th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Apogee Therapeutics presently has a consensus rating of “Buy” and an average price target of $88.83.

Insider Activity at Apogee Therapeutics

In related news, CEO Michael Thomas Henderson sold 15,000 shares of Apogee Therapeutics stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $40.58, for a total transaction of $608,700.00. Following the sale, the chief executive officer now directly owns 1,302,987 shares in the company, valued at approximately $52,875,212.46. This trade represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Carl Dambkowski sold 4,540 shares of Apogee Therapeutics stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $48.76, for a total value of $221,370.40. Following the sale, the insider now owns 258,073 shares in the company, valued at $12,583,639.48. This trade represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,145 shares of company stock valued at $1,897,799 over the last 90 days. Insiders own 36.10% of the company’s stock.

Institutional Trading of Apogee Therapeutics

A number of hedge funds have recently bought and sold shares of APGE. GF Fund Management CO. LTD. bought a new stake in Apogee Therapeutics during the fourth quarter worth $43,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Apogee Therapeutics during the third quarter worth $71,000. Optimize Financial Inc bought a new stake in shares of Apogee Therapeutics in the fourth quarter valued at $203,000. Aigen Investment Management LP bought a new stake in shares of Apogee Therapeutics in the fourth quarter valued at $216,000. Finally, BNP Paribas Financial Markets bought a new stake in shares of Apogee Therapeutics in the fourth quarter valued at $219,000. 79.04% of the stock is currently owned by institutional investors.

Apogee Therapeutics Price Performance

The stock has a market capitalization of $1.42 billion, a P/E ratio of -12.99 and a beta of 2.46. The company has a 50 day simple moving average of $39.67 and a 200-day simple moving average of $47.21.

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.