Apogee Therapeutics (NASDAQ:APGE) Earns “Outperform” Rating from Wedbush

Apogee Therapeutics (NASDAQ:APGE)‘s stock had its “outperform” rating reissued by equities researchers at Wedbush in a report issued on Tuesday,RTT News reports. They currently have a $90.00 target price on the stock. Wedbush’s price objective indicates a potential upside of 133.58% from the company’s current price.

A number of other research analysts also recently issued reports on APGE. Guggenheim restated a “buy” rating on shares of Apogee Therapeutics in a research report on Monday, February 10th. Canaccord Genuity Group initiated coverage on shares of Apogee Therapeutics in a research report on Monday, November 25th. They set a “buy” rating and a $89.00 target price for the company. Finally, Canaccord Genuity Group initiated coverage on shares of Apogee Therapeutics in a research report on Monday, November 25th. They set a “buy” rating and a $89.00 target price for the company. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $91.60.

Apogee Therapeutics Trading Down 4.3 %

NASDAQ:APGE opened at $38.53 on Tuesday. Apogee Therapeutics has a 12 month low of $29.10 and a 12 month high of $72.29. The firm has a fifty day simple moving average of $38.55 and a 200-day simple moving average of $46.71. The company has a market capitalization of $1.73 billion, a P/E ratio of -15.92 and a beta of 2.46.

Apogee Therapeutics (NASDAQ:APGE) last posted its quarterly earnings data on Monday, March 3rd. The company reported ($1.19) EPS for the quarter, missing the consensus estimate of ($0.94) by ($0.25). Equities analysts forecast that Apogee Therapeutics will post -3.09 EPS for the current year.

Insiders Place Their Bets

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 15,000 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $48.85, for a total value of $732,750.00. Following the completion of the transaction, the chief executive officer now owns 1,309,487 shares in the company, valued at approximately $63,968,439.95. This represents a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Carl Dambkowski sold 4,085 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $46.94, for a total transaction of $191,749.90. Following the completion of the transaction, the insider now owns 255,348 shares of the company’s stock, valued at approximately $11,986,035.12. This trade represents a 1.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,195 shares of company stock worth $2,026,392. Company insiders own 36.10% of the company’s stock.

Institutional Trading of Apogee Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Apogee Therapeutics during the fourth quarter worth about $6,521,000. GF Fund Management CO. LTD. purchased a new stake in shares of Apogee Therapeutics during the fourth quarter worth about $43,000. Neo Ivy Capital Management purchased a new stake in shares of Apogee Therapeutics during the fourth quarter worth about $1,745,000. Woodline Partners LP increased its stake in shares of Apogee Therapeutics by 4.0% during the fourth quarter. Woodline Partners LP now owns 1,015,608 shares of the company’s stock worth $46,007,000 after purchasing an additional 39,453 shares in the last quarter. Finally, Soleus Capital Management L.P. purchased a new stake in shares of Apogee Therapeutics during the fourth quarter worth about $3,171,000. 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.