Apogee Therapeutics (NASDAQ:APGE) Earns Outperform Rating from Wedbush

Wedbush reissued their outperform rating on shares of Apogee Therapeutics (NASDAQ:APGE) in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a $87.00 price target on the stock.

Apogee Therapeutics Stock Performance

Shares of APGE stock opened at $54.91 on Friday. The firm’s 50-day moving average is $52.79 and its 200-day moving average is $48.38. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of -10.46 and a beta of 2.75. Apogee Therapeutics has a 52-week low of $14.19 and a 52-week high of $72.29.

Apogee Therapeutics (NASDAQ:APGE) last issued its earnings results on Monday, August 12th. The company reported ($0.60) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.60). Sell-side analysts predict that Apogee Therapeutics will post -2.57 EPS for the current fiscal year.

Insider Buying and Selling at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 6,665 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $56.26, for a total value 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 40,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $40.62, for a total transaction of $1,624,800.00. Following the transaction, the chief executive officer now owns 1,434,487 shares in the company, valued at $58,268,861.94. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Carl Dambkowski sold 6,665 shares of the stock in a transaction that occurred on 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 owns 274,128 shares in the company, valued at approximately $15,422,441.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 146,665 shares of company stock valued at $7,058,635 in the last three months. 36.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. grew its position in shares of 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 worth $94,000 after purchasing an additional 285 shares in the last quarter. EntryPoint Capital LLC grew its position in shares of Apogee Therapeutics by 44.7% during the 1st quarter. EntryPoint Capital LLC now owns 1,997 shares of the company’s stock worth $133,000 after purchasing an additional 617 shares in the last quarter. Kennedy Capital Management LLC acquired a new position in shares of Apogee Therapeutics during the 1st quarter worth approximately $212,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Apogee Therapeutics during the 2nd quarter worth approximately $143,000. Finally, Ameritas Investment Partners Inc. boosted its position in shares of Apogee Therapeutics by 111.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,126 shares of the company’s stock worth $274,000 after acquiring an additional 2,172 shares in the last quarter. Institutional investors and hedge funds own 79.04% of the company’s stock.

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.