Apogee Therapeutics (NASDAQ:APGE) Given New $110.00 Price Target at Guggenheim

Apogee Therapeutics (NASDAQ:APGE) had its price target raised by Guggenheim from $95.00 to $110.00 in a report published on Wednesday morning,Benzinga reports. Guggenheim currently has a buy rating on the stock.

Other equities research analysts also recently issued reports about the company. Wedbush reaffirmed an “outperform” rating and issued a $87.00 price target on shares of Apogee Therapeutics in a research report on Tuesday, November 12th. Canaccord Genuity Group began coverage on Apogee Therapeutics in a research report on Monday, November 25th. They issued a “buy” rating and a $89.00 price target on the stock. Finally, Canaccord Genuity Group initiated coverage on Apogee Therapeutics in a research report on Monday, November 25th. They issued a “buy” rating and a $89.00 price objective for the company. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $83.50.

Apogee Therapeutics Trading Up 1.0 %

Shares of Apogee Therapeutics stock opened at $45.15 on Wednesday. Apogee Therapeutics has a 1-year low of $17.17 and a 1-year high of $72.29. The firm has a fifty day simple moving average of $53.67 and a 200-day simple moving average of $48.51. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of -18.80 and a beta of 2.93.

Insider Transactions at Apogee Therapeutics

In related news, insider Carl Dambkowski sold 6,665 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was 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 directly owns 280,793 shares of the company’s stock, valued at $13,354,515.08. This trade represents a 2.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Thomas Henderson sold 15,000 shares of the business’s 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 directly owns 1,339,487 shares in the company, valued at $79,324,420.14. This trade represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 114,995 shares of company stock valued at $6,128,295. 36.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Apogee Therapeutics

A number of institutional investors have recently added to or reduced their stakes in APGE. Wellington Management Group LLP raised its holdings in shares of Apogee Therapeutics by 35.7% in the 3rd quarter. Wellington Management Group LLP now owns 4,814,400 shares of the company’s stock worth $282,798,000 after buying an additional 1,267,451 shares in the last quarter. Vanguard Group Inc. raised its stake in Apogee Therapeutics by 60.7% during the first quarter. Vanguard Group Inc. now owns 1,868,666 shares of the company’s stock worth $124,173,000 after acquiring an additional 705,795 shares in the last quarter. Waypoint Capital Advisors LLC acquired a new stake in shares of Apogee Therapeutics in the 3rd quarter valued at $36,835,000. Janus Henderson Group PLC boosted its stake in shares of Apogee Therapeutics by 4,018.9% in the 3rd quarter. Janus Henderson Group PLC now owns 469,557 shares of the company’s stock valued at $27,586,000 after purchasing an additional 458,157 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of Apogee Therapeutics by 162.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 707,268 shares of the company’s stock worth $41,545,000 after purchasing an additional 438,036 shares during the last quarter. 79.04% of the stock is owned by institutional investors and hedge funds.

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.