Apogee Therapeutics, Inc. (NASDAQ:APGE) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) have been given a consensus rating of “Buy” by the seven research firms that are presently covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $89.71.

A number of research analysts have recently commented on the stock. Wedbush restated an “outperform” rating and set a $90.00 price target on shares of Apogee Therapeutics in a research report on Monday. Canaccord Genuity Group initiated coverage on shares of Apogee Therapeutics in a report on Monday, November 25th. They issued a “buy” rating and a $89.00 price target on the stock. Canaccord Genuity Group started coverage on shares of Apogee Therapeutics in a research report on Monday, November 25th. They issued a “buy” rating and a $89.00 target price for the company. Finally, Guggenheim restated a “buy” rating on shares of Apogee Therapeutics in a research report on Monday, February 10th.

Insiders Place Their Bets

In other news, Director Mark C. Mckenna purchased 20,000 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was acquired at an average price of $49.54 per share, with a total value of $990,800.00. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $990,800. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Thomas Henderson sold 15,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $46.58, for a total transaction of $698,700.00. Following the completion of the sale, the chief executive officer now directly owns 1,324,487 shares in the company, valued at approximately $61,694,604.46. This trade represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 63,810 shares of company stock valued at $2,903,556 over the last three months. Insiders own 36.10% of the company’s stock.

Institutional Trading of Apogee Therapeutics

Institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised 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 purchasing an additional 285 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Apogee Therapeutics by 63.8% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 8,655 shares of the company’s stock valued at $508,000 after purchasing an additional 3,371 shares in the last quarter. AlphaCentric Advisors LLC bought a new position in Apogee Therapeutics in the third quarter worth about $499,000. Victory Capital Management Inc. lifted its holdings in Apogee Therapeutics by 121.6% in the third quarter. Victory Capital Management Inc. now owns 346,358 shares of the company’s stock worth $20,345,000 after buying an additional 190,092 shares during the period. Finally, Natixis Advisors LLC bought a new stake in Apogee Therapeutics during the 3rd quarter valued at approximately $879,000. 79.04% of the stock is currently owned by hedge funds and other institutional investors.

Apogee Therapeutics Stock Performance

Shares of NASDAQ APGE opened at $31.39 on Thursday. The stock has a fifty day moving average of $40.01 and a 200-day moving average of $47.32. The stock has a market cap of $1.41 billion, a PE ratio of -12.97 and a beta of 2.18. Apogee Therapeutics has a fifty-two week low of $29.64 and a fifty-two week high of $72.29.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly earnings results on Monday, March 3rd. The company reported ($1.19) earnings per share for the quarter, missing the consensus estimate of ($0.94) by ($0.25). On average, sell-side analysts predict that Apogee Therapeutics will post -3.09 EPS for the current year.

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.