Apogee Therapeutics’ (APGE) “Outperform” Rating Reiterated at Wedbush

Wedbush reiterated their outperform rating on shares of Apogee Therapeutics (NASDAQ:APGE) in a report issued on Monday morning,RTT News reports. The brokerage currently has a $90.00 price objective on the stock.

APGE has been the topic of several other research reports. Canaccord Genuity Group assumed coverage on Apogee Therapeutics in a research note on Monday, November 25th. They set a “buy” rating and a $89.00 target price on the stock. Canaccord Genuity Group assumed coverage on Apogee Therapeutics in a research note on Monday, November 25th. They set a “buy” rating and a $89.00 target price on the stock. Finally, Guggenheim reaffirmed a “buy” rating on shares of Apogee Therapeutics in a research report on Monday, February 10th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $88.83.

Apogee Therapeutics Trading Up 3.5 %

APGE opened at $31.43 on Monday. The stock’s 50-day moving average price is $39.67 and its 200 day moving average price is $47.21. Apogee Therapeutics has a 12-month low of $29.10 and a 12-month high of $72.29. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of -12.99 and a beta of 2.46.

Apogee Therapeutics (NASDAQ:APGE) last posted its earnings results on Monday, March 3rd. The company reported ($1.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.94) by ($0.25). On average, research analysts forecast that Apogee Therapeutics will post -3.09 earnings per share for the current year.

Insider Buying and Selling at Apogee Therapeutics

In other news, CEO Michael Thomas Henderson sold 15,000 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $48.85, for a total value of $732,750.00. Following the transaction, the chief executive officer now owns 1,309,487 shares in the company, valued at approximately $63,968,439.95. This represents a 1.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Carl Dambkowski sold 3,520 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $40.69, for a total value of $143,228.80. Following the completion of the transaction, the insider now owns 252,623 shares in the company, valued at approximately $10,279,229.87. The trade was a 1.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,145 shares of company stock valued at $1,897,799 in the last quarter. Corporate insiders own 36.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. purchased a new position in Apogee Therapeutics during the 4th quarter worth approximately $43,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Apogee Therapeutics during the 3rd quarter worth approximately $71,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Apogee Therapeutics by 21.2% during 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 last quarter. Wexford Capital LP purchased a new position in Apogee Therapeutics during the 3rd quarter worth approximately $230,000. Finally, Optimize Financial Inc purchased a new position in Apogee Therapeutics during the 4th quarter worth approximately $203,000. 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.