Apogee Therapeutics (NASDAQ:APGE) Now Covered by Canaccord Genuity Group

Canaccord Genuity Group began coverage on shares of Apogee Therapeutics (NASDAQ:APGE) in a research report sent to investors on Monday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $89.00 target price on the stock.

Separately, Wedbush restated an “outperform” rating and set a $87.00 target price on shares of Apogee Therapeutics in a research note on Tuesday, November 12th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Apogee Therapeutics has an average rating of “Buy” and an average target price of $81.13.

Apogee Therapeutics Stock Up 0.9 %

Shares of APGE stock opened at $43.85 on Monday. Apogee Therapeutics has a twelve month low of $16.39 and a twelve month high of $72.29. The business’s fifty day moving average is $54.14 and its 200 day moving average is $48.63. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of -18.12 and a beta of 2.93.

Insiders Place Their Bets

In related news, CEO Michael Thomas Henderson sold 15,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $59.22, for a total value of $888,300.00. Following the sale, the chief executive officer now directly owns 1,339,487 shares of the company’s stock, valued at $79,324,420.14. This represents a 1.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Carl Dambkowski sold 6,665 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $47.56, for a total value of $316,987.40. Following the transaction, the insider now owns 280,793 shares of the company’s stock, valued at $13,354,515.08. This trade represents a 2.32 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 114,995 shares of company stock worth $6,128,295. Corporate insiders own 36.10% of the company’s stock.

Hedge Funds Weigh In On Apogee Therapeutics

Hedge funds have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Apogee Therapeutics in the 3rd quarter valued at about $71,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Apogee Therapeutics by 21.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,628 shares of the company’s stock worth $94,000 after purchasing an additional 285 shares in the last quarter. Kennedy Capital Management LLC purchased a new position in Apogee Therapeutics during the 1st quarter worth $212,000. Allspring Global Investments Holdings LLC acquired a new position in Apogee Therapeutics during the 2nd quarter valued at about $143,000. Finally, Wexford Capital LP acquired a new stake in Apogee Therapeutics in the third quarter worth about $230,000. 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.