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

Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) have been assigned an average rating of “Buy” from the six research firms that are currently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $78.50.

Separately, Wedbush reiterated an “outperform” rating and issued a $87.00 price objective on shares of Apogee Therapeutics in a report on Friday, October 25th.

Insider Activity at Apogee Therapeutics

In other Apogee Therapeutics news, CFO Jane Henderson sold 6,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $48.26, for a total transaction of $289,560.00. Following the transaction, the chief financial officer now owns 200,871 shares of the company’s stock, valued at $9,694,034.46. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 40,000 shares of Apogee Therapeutics stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $40.62, for a total value of $1,624,800.00. Following the completion of the transaction, the chief executive officer now directly owns 1,434,487 shares in the company, valued at $58,268,861.94. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jane Henderson sold 6,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $48.26, for a total value of $289,560.00. Following the sale, the chief financial officer now owns 200,871 shares in the company, valued at $9,694,034.46. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 146,665 shares of company stock valued at $7,058,635 over the last three months. 36.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. lifted its stake in Apogee Therapeutics by 21.2% in the third 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 last quarter. EntryPoint Capital LLC grew its position in Apogee Therapeutics by 44.7% in 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 during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Apogee Therapeutics in the second quarter valued at approximately $143,000. Kennedy Capital Management LLC bought a new stake in shares of Apogee Therapeutics during the first quarter valued at approximately $212,000. Finally, Arizona State Retirement System boosted its position 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 worth $236,000 after buying an additional 258 shares during the period. Institutional investors and hedge funds own 79.04% of the company’s stock.

Apogee Therapeutics Trading Down 5.2 %

Shares of NASDAQ APGE opened at $52.04 on Friday. The stock has a fifty day moving average price of $53.07 and a 200 day moving average price of $48.43. Apogee Therapeutics has a 12-month low of $14.19 and a 12-month high of $72.29. The company has a market cap of $3.04 billion, a P/E ratio of -9.91 and a beta of 2.75.

Apogee Therapeutics (NASDAQ:APGE) last announced its earnings results on Monday, August 12th. The company reported ($0.60) EPS for the quarter, meeting the consensus estimate of ($0.60). On average, sell-side analysts forecast that Apogee Therapeutics will post -2.57 EPS for the current fiscal 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.