Apogee Therapeutics, Inc. (NASDAQ:APGE) Receives $92.17 Average Price Target from Analysts

Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) have been given an average recommendation of “Buy” by the six research firms that are currently covering the firm, MarketBeat reports. Six analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have covered the stock in the last year is $92.17.

Several brokerages recently weighed in on APGE. Citigroup initiated coverage on Apogee Therapeutics in a research note on Thursday, March 13th. They issued a “buy” rating and a $95.00 price target on the stock. Wedbush reissued an “outperform” rating and issued a $90.00 target price on shares of Apogee Therapeutics in a report on Tuesday, March 11th. Finally, Guggenheim reissued a “buy” rating on shares of Apogee Therapeutics in a report on Monday, February 10th.

Insider Transactions at Apogee Therapeutics

In other news, CEO Michael Thomas Henderson sold 10,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $30.15, for a total transaction of $301,500.00. Following the transaction, the chief executive officer now owns 1,292,987 shares in the company, valued at $38,983,558.05. This represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Carl Dambkowski sold 1,590 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $30.48, for a total value of $48,463.20. Following the completion of the transaction, the insider now directly owns 251,033 shares in the company, valued at approximately $7,651,485.84. The trade was a 0.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,195 shares of company stock worth $2,026,392. Insiders own 36.10% of the company’s stock.

Institutional Trading of Apogee Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in APGE. GF Fund Management CO. LTD. purchased a new position in shares of Apogee Therapeutics in the fourth quarter valued at approximately $43,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Apogee Therapeutics during the 3rd quarter worth about $71,000. Wexford Capital LP purchased a new position in shares of Apogee Therapeutics in the third quarter valued at approximately $230,000. Optimize Financial Inc purchased a new position in Apogee Therapeutics in the 4th quarter valued at approximately $203,000. Finally, Aigen Investment Management LP acquired a new position in Apogee Therapeutics during the 4th quarter worth $216,000. Institutional investors and hedge funds own 79.04% of the company’s stock.

Apogee Therapeutics Stock Performance

Apogee Therapeutics stock opened at $40.14 on Monday. The firm’s fifty day moving average price is $37.47 and its 200-day moving average price is $46.11. Apogee Therapeutics has a fifty-two week low of $29.10 and a fifty-two week high of $69.40. The stock has a market cap of $1.81 billion, a P/E ratio of -16.59 and a beta of 2.46.

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

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.