Apogee Therapeutics (NASDAQ:APGE) Stock Price Down 3.6%

Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) were down 3.6% on Tuesday . The company traded as low as $37.47 and last traded at $37.58. Approximately 183,756 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 545,318 shares. The stock had previously closed at $38.99.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on APGE shares. Wedbush reiterated an “outperform” rating and issued a $87.00 price objective on shares of Apogee Therapeutics in a research note on Monday, May 13th. Jefferies Financial Group raised their target price on Apogee Therapeutics from $37.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Guggenheim upped their price target on Apogee Therapeutics from $44.00 to $91.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Stifel Nicolaus boosted their price objective on Apogee Therapeutics from $46.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Finally, Bank of America assumed coverage on Apogee Therapeutics in a report on Friday, May 10th. They issued a “buy” rating and a $80.00 target price on the stock. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $73.00.

Apogee Therapeutics Price Performance

The stock has a 50-day simple moving average of $48.16 and a 200-day simple moving average of $43.26.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly earnings data on Monday, May 13th. The company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.04). As a group, equities analysts predict that Apogee Therapeutics, Inc. will post -2.64 EPS for the current fiscal year.

Institutional Investors Weigh In On Apogee Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC purchased a new position in shares of Apogee Therapeutics during the 3rd quarter valued at $89,619,000. RTW Investments LP bought a new stake in shares of Apogee Therapeutics during the 3rd quarter valued at about $45,637,000. RA Capital Management L.P. purchased a new position in shares of Apogee Therapeutics during the third quarter worth about $42,129,000. Wellington Management Group LLP bought a new position in shares of Apogee Therapeutics in the third quarter worth approximately $33,037,000. Finally, Vanguard Group Inc. bought a new stake in Apogee Therapeutics during the third quarter valued at approximately $23,894,000. 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.