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

Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) have been given an average rating of “Buy” by the seven analysts that are currently covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy rating. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $89.71.

APGE has been the subject of several analyst reports. Wedbush increased their price target on shares of Apogee Therapeutics from $87.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Canaccord Genuity Group initiated coverage on Apogee Therapeutics in a research note on Monday, November 25th. They set a “buy” rating and a $89.00 target price for the company. Canaccord Genuity Group started coverage on Apogee Therapeutics in a research note on Monday, November 25th. They issued a “buy” rating and a $89.00 price target on the stock. Finally, Guggenheim reiterated a “buy” rating on shares of Apogee Therapeutics in a research report on Thursday, December 12th.

Insider Activity at Apogee Therapeutics

In other news, Director Mark C. Mckenna bought 20,000 shares of Apogee Therapeutics stock in a transaction on Thursday, December 12th. The shares were bought at an average cost of $49.54 per share, for a total transaction of $990,800.00. Following the acquisition, the director now owns 20,000 shares in the company, valued at approximately $990,800. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael Thomas Henderson sold 15,000 shares of Apogee Therapeutics stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $48.85, for a total transaction of $732,750.00. Following the sale, the chief executive officer now owns 1,309,487 shares of the company’s stock, valued at approximately $63,968,439.95. This trade represents a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,955 shares of company stock valued at $3,433,962 over the last quarter. Insiders own 36.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Wellington Management Group LLP increased its stake in Apogee Therapeutics by 35.7% in the third quarter. Wellington Management Group LLP now owns 4,814,400 shares of the company’s stock valued at $282,798,000 after purchasing an additional 1,267,451 shares during the last quarter. Driehaus Capital Management LLC grew its holdings in Apogee Therapeutics by 2.6% in the 2nd quarter. Driehaus Capital Management LLC now owns 2,117,870 shares of the company’s stock valued at $83,338,000 after buying an additional 54,107 shares during the period. Perceptive Advisors LLC increased its stake in shares of Apogee Therapeutics by 2.2% during the 2nd quarter. Perceptive Advisors LLC now owns 2,105,636 shares of the company’s stock valued at $82,857,000 after acquiring an additional 45,241 shares during the last quarter. Affinity Asset Advisors LLC lifted its holdings in shares of Apogee Therapeutics by 41.2% during the 2nd quarter. Affinity Asset Advisors LLC now owns 836,283 shares of the company’s stock worth $32,908,000 after acquiring an additional 244,190 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Apogee Therapeutics by 11.2% in the third quarter. Geode Capital Management LLC now owns 823,839 shares of the company’s stock worth $48,401,000 after acquiring an additional 82,978 shares during the last quarter. Hedge funds and other institutional investors own 79.04% of the company’s stock.

Apogee Therapeutics Stock Performance

Shares of Apogee Therapeutics stock opened at $39.34 on Wednesday. Apogee Therapeutics has a one year low of $30.84 and a one year high of $72.29. The company has a market cap of $1.77 billion, a P/E ratio of -16.26 and a beta of 2.26. The firm has a fifty day moving average of $48.12 and a two-hundred day moving average of $49.08.

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.