Apogee Therapeutics, Inc. (NASDAQ:APGE) Receives $92.17 Average PT from Brokerages

Apogee Therapeutics, Inc. (NASDAQ:APGE) has been assigned a consensus rating of “Buy” from the six analysts that are presently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $92.17.

APGE has been the topic of several research analyst reports. Citigroup assumed coverage on shares of Apogee Therapeutics in a research note on Thursday, March 13th. They set a “buy” rating and a $95.00 target price on the stock. Guggenheim reissued a “buy” rating on shares of Apogee Therapeutics in a research note on Monday, February 10th. Finally, Wedbush reaffirmed an “outperform” rating and set a $90.00 target price on shares of Apogee Therapeutics in a research note on Tuesday, March 11th.

Insider Buying and Selling

In related news, insider Carl Dambkowski sold 3,520 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 252,623 shares in the company, valued at approximately $10,279,229.87. This represents a 1.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Thomas Henderson sold 10,000 shares of Apogee Therapeutics stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $30.15, for a total transaction of $301,500.00. Following the transaction, the chief executive officer now owns 1,292,987 shares in the company, valued at approximately $38,983,558.05. The trade was a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,195 shares of company stock worth $2,026,392 in the last three months. 36.10% of the stock is currently owned by insiders.

Institutional Trading of Apogee Therapeutics

A number of hedge funds have recently modified their holdings of the business. GF Fund Management CO. LTD. purchased a new position in shares of Apogee Therapeutics during the fourth quarter valued at $43,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Apogee Therapeutics during the 3rd quarter valued at about $71,000. Optimize Financial Inc acquired a new position in shares of Apogee Therapeutics in the 4th quarter valued at about $203,000. Aigen Investment Management LP purchased a new stake in shares of Apogee Therapeutics in the fourth quarter worth approximately $216,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Apogee Therapeutics during the fourth quarter worth approximately $219,000. Hedge funds and other institutional investors own 79.04% of the company’s stock.

Apogee Therapeutics Price Performance

NASDAQ:APGE opened at $39.72 on Monday. The business has a 50 day simple moving average of $37.57 and a 200 day simple moving average of $45.95. The firm has a market capitalization of $1.79 billion, a P/E ratio of -16.41 and a beta of 2.46. Apogee Therapeutics has a 12-month low of $29.10 and a 12-month high of $68.21.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly earnings data on Monday, March 3rd. The company reported ($1.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.94) by ($0.25). Research analysts anticipate that Apogee Therapeutics will post -3.09 EPS for the current fiscal year.

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.