Brokerages Set Apogee Therapeutics, Inc. (NASDAQ:APGE) Target Price at $83.88

Apogee Therapeutics, Inc. (NASDAQ:APGE) has been assigned a consensus rating of “Buy” from the eight brokerages that are presently covering the company, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a buy rating. The average 12 month target price among brokers that have covered the stock in the last year is $83.88.

A number of research analysts have weighed in on the stock. Canaccord Genuity Group assumed coverage on shares of Apogee Therapeutics in a research report on Monday, November 25th. They set a “buy” rating and a $89.00 target price for the company. Wedbush boosted their price objective on Apogee Therapeutics from $87.00 to $90.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Canaccord Genuity Group started coverage on Apogee Therapeutics in a report on Monday, November 25th. They issued a “buy” rating and a $89.00 target price on the stock. Finally, Guggenheim reaffirmed a “buy” rating on shares of Apogee Therapeutics in a research report on Thursday, December 12th.

Insider Activity at Apogee Therapeutics

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 40,000 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $56.23, for a total value of $2,249,200.00. Following the sale, the chief executive officer now owns 1,354,487 shares of the company’s stock, valued at $76,162,804.01. The trade was a 2.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Carl Dambkowski sold 6,665 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $56.26, for a total transaction of $374,972.90. Following the transaction, the insider now directly owns 274,128 shares of the company’s stock, valued at $15,422,441.28. The trade was a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 94,535 shares of company stock worth $5,133,635 over the last three months. Company insiders own 36.10% of the company’s stock.

Institutional Investors Weigh In On Apogee Therapeutics

A number of institutional investors have recently added to or reduced their stakes in APGE. Geode Capital Management LLC raised its holdings in shares of Apogee Therapeutics by 11.2% in the 3rd quarter. Geode Capital Management LLC now owns 823,839 shares of the company’s stock worth $48,401,000 after buying an additional 82,978 shares in the last quarter. Barclays PLC raised its stake in Apogee Therapeutics by 369.2% during the third quarter. Barclays PLC now owns 365,046 shares of the company’s stock worth $21,443,000 after acquiring an additional 287,243 shares in the last quarter. Wellington Management Group LLP raised its stake in Apogee Therapeutics by 35.7% during the third quarter. Wellington Management Group LLP now owns 4,814,400 shares of the company’s stock worth $282,798,000 after acquiring an additional 1,267,451 shares in the last quarter. Wexford Capital LP bought a new position in shares of Apogee Therapeutics during the third quarter valued at $230,000. Finally, Point72 DIFC Ltd boosted its stake in shares of Apogee Therapeutics by 14.5% in the 3rd quarter. Point72 DIFC Ltd now owns 19,207 shares of the company’s stock valued at $1,128,000 after purchasing an additional 2,428 shares in the last quarter. 79.04% of the stock is owned by institutional investors and hedge funds.

Apogee Therapeutics Trading Up 6.1 %

Shares of Apogee Therapeutics stock opened at $47.21 on Friday. The firm has a fifty day simple moving average of $51.27 and a 200-day simple moving average of $48.31. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of -19.51 and a beta of 2.30. Apogee Therapeutics has a 1-year low of $22.20 and a 1-year high of $72.29.

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.