Apogee Therapeutics, Inc. (NASDAQ:APGE) Given Average Recommendation of “Buy” by Analysts

Apogee Therapeutics, Inc. (NASDAQ:APGE) has been given a consensus recommendation of “Buy” by the seven analysts that are presently covering the firm, Marketbeat Ratings reports. Seven research analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $89.71.

A number of equities research analysts recently issued reports on APGE shares. Canaccord Genuity Group initiated coverage on Apogee Therapeutics in a research report on Monday, November 25th. They issued a “buy” rating and a $89.00 price objective on the stock. Wedbush raised their price target on Apogee Therapeutics from $87.00 to $90.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. Guggenheim reissued a “buy” rating on shares of Apogee Therapeutics in a report on Thursday, December 12th. Finally, Canaccord Genuity Group began coverage on shares of Apogee Therapeutics in a research note on Monday, November 25th. They issued a “buy” rating and a $89.00 target price on the stock.

Apogee Therapeutics Trading Up 2.7 %

Apogee Therapeutics stock opened at $49.57 on Wednesday. The firm’s 50 day simple moving average is $48.87 and its 200 day simple moving average is $48.90. Apogee Therapeutics has a 1-year low of $27.05 and a 1-year high of $72.29. The firm has a market capitalization of $2.23 billion, a PE ratio of -20.48 and a beta of 2.26.

Insiders Place Their Bets

In other news, insider Carl Dambkowski sold 6,665 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $59.12, for a total value of $394,034.80. Following the completion of the sale, the insider now owns 267,463 shares of the company’s stock, valued at approximately $15,812,412.56. This represents a 2.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Thomas Henderson sold 15,000 shares of Apogee Therapeutics stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $59.22, for a total transaction of $888,300.00. Following the completion of the transaction, the chief executive officer now owns 1,339,487 shares in the company, 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. Insiders sold a total of 51,955 shares of company stock valued at $2,701,212 over the last quarter. 36.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Apogee Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of APGE. Arizona State Retirement System boosted its stake in shares of Apogee Therapeutics by 4.5% during the second quarter. Arizona State Retirement System now owns 5,993 shares of the company’s stock valued at $236,000 after purchasing an additional 258 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in 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 buying an additional 285 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Apogee Therapeutics in the 3rd quarter worth $71,000. JPMorgan Chase & Co. increased its position in shares of Apogee Therapeutics by 4.3% in the third quarter. JPMorgan Chase & Co. now owns 29,555 shares of the company’s stock valued at $1,736,000 after acquiring an additional 1,212 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Apogee Therapeutics by 26.3% during the second quarter. Principal Financial Group Inc. now owns 6,442 shares of the company’s stock valued at $253,000 after acquiring an additional 1,340 shares during the last quarter. 79.04% of the stock is currently owned by institutional investors.

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.