Wedbush Has Bearish Estimate for APGE FY2024 Earnings

Apogee Therapeutics, Inc. (NASDAQ:APGE) – Analysts at Wedbush cut their FY2024 earnings per share estimates for Apogee Therapeutics in a note issued to investors on Tuesday, November 12th. Wedbush analyst D. Nierengarten now anticipates that the company will post earnings of ($3.10) per share for the year, down from their previous estimate of ($2.67). Wedbush currently has a “Outperform” rating and a $87.00 price target on the stock. The consensus estimate for Apogee Therapeutics’ current full-year earnings is ($2.57) per share. Wedbush also issued estimates for Apogee Therapeutics’ Q4 2024 earnings at ($0.97) EPS, Q1 2025 earnings at ($0.99) EPS, Q2 2025 earnings at ($1.01) EPS, Q3 2025 earnings at ($0.95) EPS, Q4 2025 earnings at ($0.94) EPS, FY2025 earnings at ($3.90) EPS, FY2026 earnings at ($3.97) EPS, FY2027 earnings at ($4.35) EPS and FY2028 earnings at ($5.69) EPS.

Apogee Therapeutics Price Performance

Shares of NASDAQ APGE opened at $47.25 on Friday. The business has a fifty day moving average price of $54.78 and a two-hundred day moving average price of $48.99. The stock has a market capitalization of $2.13 billion, a PE ratio of -19.52 and a beta of 2.93. Apogee Therapeutics has a fifty-two week low of $16.39 and a fifty-two week high of $72.29.

Institutional Trading of Apogee Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Apogee Therapeutics in the 3rd quarter valued at approximately $71,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of 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 valued at $94,000 after acquiring an additional 285 shares in the last quarter. EntryPoint Capital LLC grew its position in Apogee Therapeutics by 44.7% during the 1st quarter. EntryPoint Capital LLC now owns 1,997 shares of the company’s stock worth $133,000 after acquiring an additional 617 shares during the last quarter. Kennedy Capital Management LLC acquired a new position in Apogee Therapeutics in the 1st quarter worth about $212,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in Apogee Therapeutics in the 2nd quarter worth about $143,000. 79.04% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Jane Henderson sold 6,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $48.26, for a total transaction of $289,560.00. Following the sale, the chief financial officer now owns 200,871 shares in the company, valued at approximately $9,694,034.46. This trade represents a 2.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael Thomas Henderson sold 15,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 1,339,487 shares of the company’s stock, valued at approximately $79,324,420.14. This represents a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 120,995 shares of company stock worth $6,417,855. Company insiders own 36.10% 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.