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

Wedbush reiterated their outperform rating on shares of Apogee Therapeutics (NASDAQ:APGE) in a research note released on Tuesday,RTT News reports. The brokerage currently has a $87.00 target price on the stock. Wedbush also issued estimates for Apogee Therapeutics’ Q4 2024 earnings at ($0.97) EPS, FY2024 earnings at ($3.10) EPS, Q1 2025 earnings at ($0.99) EPS, Q2 2025 earnings at ($1.01) EPS, Q3 2025 earnings at ($0.95) EPS, Q4 2025 earnings at ($0.94) EPS, FY2025 earnings at ($3.90) EPS, FY2026 earnings at ($3.97) EPS, FY2027 earnings at ($4.35) EPS and FY2028 earnings at ($5.69) EPS.

Apogee Therapeutics Price Performance

Shares of NASDAQ APGE opened at $47.25 on Tuesday. The stock has a fifty day moving average price of $54.78 and a 200 day moving average price of $49.00. Apogee Therapeutics has a 1-year low of $16.39 and a 1-year high of $72.29. The company has a market cap of $2.13 billion, a PE ratio of -19.52 and a beta of 2.93.

Insider Buying and Selling

In other Apogee Therapeutics news, CFO Jane Henderson sold 6,000 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $48.26, for a total value of $289,560.00. Following the completion of the transaction, the chief financial officer now owns 200,871 shares in the company, valued at approximately $9,694,034.46. This represents a 2.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Carl Dambkowski sold 6,665 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $47.56, for a total value of $316,987.40. Following the completion of the transaction, the insider now owns 280,793 shares of the company’s stock, valued at approximately $13,354,515.08. This represents a 2.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 120,995 shares of company stock valued at $6,417,855 over the last three months. 36.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Apogee Therapeutics by 60.7% in the first quarter. Vanguard Group Inc. now owns 1,868,666 shares of the company’s stock valued at $124,173,000 after buying an additional 705,795 shares in the last quarter. ProShare Advisors LLC acquired a new stake in Apogee Therapeutics during the first quarter worth approximately $667,000. Point72 DIFC Ltd purchased a new stake in Apogee Therapeutics in the 2nd quarter worth approximately $660,000. XTX Topco Ltd purchased a new position in shares of Apogee Therapeutics during the 2nd quarter worth $706,000. Finally, Victory Capital Management Inc. lifted its stake in shares of Apogee Therapeutics by 56.8% during the 2nd quarter. Victory Capital Management Inc. now owns 156,266 shares of the company’s stock worth $6,149,000 after purchasing an additional 56,607 shares during the period. Hedge funds and other institutional investors own 79.04% of the company’s stock.

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.