Apogee Therapeutics (NASDAQ:APGE) Coverage Initiated by Analysts at Canaccord Genuity Group

Canaccord Genuity Group began coverage on shares of Apogee Therapeutics (NASDAQ:APGE) in a research report released on Monday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $89.00 target price on the stock.

A number of other equities research analysts have also recently issued reports on APGE. Canaccord Genuity Group began coverage on shares of Apogee Therapeutics in a research note on Monday. They issued a “buy” rating and a $89.00 price objective for the company. Wedbush restated an “outperform” rating and set a $87.00 price target on shares of Apogee Therapeutics in a research report on Tuesday, November 12th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Apogee Therapeutics presently has an average rating of “Buy” and a consensus price target of $83.50.

Apogee Therapeutics Price Performance

Shares of APGE opened at $44.70 on Monday. Apogee Therapeutics has a 1 year low of $16.39 and a 1 year high of $72.29. The stock has a 50 day simple moving average of $53.83 and a two-hundred day simple moving average of $48.54. The firm has a market cap of $2.01 billion, a P/E ratio of -18.47 and a beta of 2.93.

Insiders Place Their Bets

In related news, insider Carl Dambkowski sold 6,665 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $47.56, for a total transaction of $316,987.40. Following the completion of the transaction, the insider now owns 280,793 shares in the company, valued at $13,354,515.08. This represents a 2.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Thomas Henderson sold 15,000 shares of Apogee Therapeutics stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $59.22, for a total transaction of $888,300.00. Following the completion of the sale, the chief executive officer now owns 1,339,487 shares in the company, valued at approximately $79,324,420.14. This trade represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 114,995 shares of company stock valued at $6,128,295 in the last quarter. Insiders own 36.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Apogee Therapeutics in the 3rd quarter valued at approximately $71,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Apogee Therapeutics by 21.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,628 shares of the company’s stock worth $94,000 after buying an additional 285 shares during the period. Kennedy Capital Management LLC bought a new position in shares of Apogee Therapeutics in the 1st quarter worth about $212,000. Allspring Global Investments Holdings LLC bought a new position in shares of Apogee Therapeutics in the 2nd quarter worth about $143,000. Finally, Wexford Capital LP purchased a new position in Apogee Therapeutics during the 3rd quarter valued at about $230,000. 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.