Apogee Therapeutics (NASDAQ:APGE) Earns “Buy” Rating from Guggenheim

Apogee Therapeutics (NASDAQ:APGE)‘s stock had its “buy” rating restated by research analysts at Guggenheim in a note issued to investors on Thursday,Benzinga reports.

Several other brokerages have also issued reports on APGE. Wedbush boosted their price target on shares of Apogee Therapeutics from $87.00 to $90.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. Canaccord Genuity Group began coverage on shares of Apogee Therapeutics in a research report on Monday, November 25th. They issued a “buy” rating and a $89.00 price target for the company. Finally, Canaccord Genuity Group assumed coverage on Apogee Therapeutics in a report on Monday, November 25th. They set a “buy” rating and a $89.00 price objective on the stock. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $83.88.

Apogee Therapeutics Trading Up 0.4 %

Shares of NASDAQ:APGE opened at $44.50 on Thursday. The firm has a market capitalization of $2.00 billion, a PE ratio of -18.39 and a beta of 2.30. Apogee Therapeutics has a 1-year low of $20.78 and a 1-year high of $72.29. The business’s 50 day moving average is $51.43 and its 200-day moving average is $48.28.

Insiders Place Their Bets

In other news, insider Carl Dambkowski sold 4,540 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $48.76, for a total value of $221,370.40. Following the transaction, the insider now directly owns 258,073 shares of the company’s stock, valued at $12,583,639.48. The trade was a 1.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Thomas Henderson sold 15,000 shares of Apogee Therapeutics stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $59.22, for a total value of $888,300.00. Following the completion of the transaction, the chief executive officer now owns 1,339,487 shares of the company’s stock, valued at approximately $79,324,420.14. The trade was a 1.11 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 94,535 shares of company stock valued at $5,133,635. 36.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Apogee Therapeutics

A number of large investors have recently modified their holdings of APGE. Wellington Management Group LLP raised its position in Apogee Therapeutics by 35.7% in the 3rd quarter. Wellington Management Group LLP now owns 4,814,400 shares of the company’s stock worth $282,798,000 after purchasing an additional 1,267,451 shares during the last quarter. Driehaus Capital Management LLC increased its stake in shares of Apogee Therapeutics by 2.6% in the 2nd quarter. Driehaus Capital Management LLC now owns 2,117,870 shares of the company’s stock valued at $83,338,000 after buying an additional 54,107 shares during the period. Perceptive Advisors LLC increased its stake in shares of Apogee Therapeutics by 2.2% in the 2nd quarter. Perceptive Advisors LLC now owns 2,105,636 shares of the company’s stock valued at $82,857,000 after buying an additional 45,241 shares during the period. Affinity Asset Advisors LLC raised its position in shares of Apogee Therapeutics by 41.2% during the second quarter. Affinity Asset Advisors LLC now owns 836,283 shares of the company’s stock worth $32,908,000 after acquiring an additional 244,190 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Apogee Therapeutics by 11.2% during the third quarter. Geode Capital Management LLC now owns 823,839 shares of the company’s stock valued at $48,401,000 after acquiring an additional 82,978 shares during the period. 79.04% of the stock is currently owned by institutional investors and hedge funds.

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.