Apogee Therapeutics, Inc. (NASDAQ:APGE) Given Average Rating of “Buy” by Brokerages

Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) have been assigned an average rating of “Buy” from the six analysts that are covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $92.17.

A number of analysts recently weighed in on the company. Citigroup initiated coverage on Apogee Therapeutics in a research note on Thursday, March 13th. They issued a “buy” rating and a $95.00 price target on the stock. Guggenheim restated a “buy” rating on shares of Apogee Therapeutics in a research report on Monday, February 10th. Finally, Wedbush reiterated an “outperform” rating and issued a $90.00 price target on shares of Apogee Therapeutics in a report on Tuesday, March 11th.

Apogee Therapeutics Stock Up 1.2 %

Shares of NASDAQ:APGE opened at $39.72 on Monday. Apogee Therapeutics has a fifty-two week low of $29.10 and a fifty-two week high of $68.21. The firm’s 50-day simple moving average is $37.57 and its 200-day simple moving average is $46.00. The company has a market cap of $1.79 billion, a price-to-earnings ratio of -16.41 and a beta of 2.46.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly earnings data on Monday, March 3rd. The company reported ($1.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.94) by ($0.25). On average, research analysts forecast that Apogee Therapeutics will post -3.09 EPS for the current year.

Insider Activity

In related news, CEO Michael Thomas Henderson sold 15,000 shares of Apogee Therapeutics stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 1,302,987 shares in the company, valued at $52,875,212.46. The trade was a 1.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Carl Dambkowski sold 4,085 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $46.94, for a total value of $191,749.90. Following the sale, the insider now owns 255,348 shares in the company, 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. Insiders sold a total of 49,195 shares of company stock worth $2,026,392 over the last 90 days. 36.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Apogee Therapeutics

A number of institutional investors have recently made changes to their positions in APGE. GF Fund Management CO. LTD. purchased a new stake in Apogee Therapeutics during the 4th quarter worth about $43,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Apogee Therapeutics during the 3rd quarter worth about $71,000. Wexford Capital LP purchased a new stake in shares of Apogee Therapeutics during the third quarter worth about $230,000. Optimize Financial Inc acquired a new position in shares of Apogee Therapeutics in the fourth quarter valued at approximately $203,000. Finally, Aigen Investment Management LP acquired a new position in shares of Apogee Therapeutics in the fourth quarter valued at approximately $216,000. 79.04% of the stock is 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.