Apogee Therapeutics (NASDAQ:APGE) Now Covered by Analysts at Canaccord Genuity Group

Research analysts at Canaccord Genuity Group began coverage on shares of Apogee Therapeutics (NASDAQ:APGE) in a report released on Monday, Marketbeat.com reports. The brokerage set a “buy” rating and a $89.00 price target on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 104.79% from the company’s current price.

Separately, Wedbush reissued an “outperform” rating and issued a $87.00 target price on shares of Apogee Therapeutics in a report on Tuesday, November 12th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, Apogee Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $81.13.

Apogee Therapeutics Stock Up 1.4 %

NASDAQ:APGE opened at $43.46 on Monday. The stock’s fifty day moving average is $54.29 and its two-hundred day moving average is $48.70. Apogee Therapeutics has a 52 week low of $16.39 and a 52 week high of $72.29. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of -17.96 and a beta of 2.93.

Insiders Place Their Bets

In other news, insider Carl Dambkowski sold 6,665 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $56.26, for a total transaction of $374,972.90. Following the completion of the sale, the insider now directly owns 274,128 shares in the company, valued at $15,422,441.28. This represents a 2.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael Thomas Henderson sold 40,000 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $47.62, for a total value of $1,904,800.00. Following the completion of the sale, the chief executive officer now owns 1,394,487 shares of the company’s stock, valued at approximately $66,405,470.94. This represents a 2.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 114,995 shares of company stock valued at $6,128,295 in the last ninety days. Insiders own 36.10% of the company’s stock.

Institutional Trading of Apogee Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. Sei Investments Co. acquired a new stake in shares of Apogee Therapeutics during the first quarter valued at about $648,000. Vanguard Group Inc. boosted its stake in shares of Apogee Therapeutics by 60.7% during the 1st 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 during the last quarter. American International Group Inc. increased its stake in shares of Apogee Therapeutics by 99.9% in the first quarter. American International Group Inc. now owns 20,391 shares of the company’s stock worth $1,355,000 after buying an additional 10,188 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Apogee Therapeutics by 51.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,170,327 shares of the company’s stock valued at $77,770,000 after acquiring an additional 399,646 shares in the last quarter. Finally, Bayesian Capital Management LP bought a new position in Apogee Therapeutics during the 1st quarter valued at $450,000. 79.04% of the stock is currently 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.