Apogee Therapeutics (NASDAQ:APGE) Coverage Initiated by Analysts at Canaccord Genuity Group

Canaccord Genuity Group began coverage on shares of Apogee Therapeutics (NASDAQ:APGE) in a research report sent to investors on Monday, MarketBeat reports. The firm issued a buy rating and a $89.00 price target on the stock.

Several other equities analysts have also weighed in on the stock. Canaccord Genuity Group started coverage on shares of Apogee Therapeutics in a report on Monday. They issued a “buy” rating and a $89.00 price objective on the stock. Wedbush reissued an “outperform” rating and issued a $87.00 price target on shares of Apogee Therapeutics in a research note on Tuesday, November 12th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $81.13.

Apogee Therapeutics Stock Up 0.9 %

Shares of APGE stock opened at $43.85 on Monday. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of -18.12 and a beta of 2.93. Apogee Therapeutics has a 12 month low of $16.39 and a 12 month high of $72.29. The stock has a 50-day moving average price of $54.14 and a 200 day moving average price of $48.63.

Insiders Place Their Bets

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 15,000 shares of Apogee Therapeutics stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $59.22, for a total value of $888,300.00. Following the transaction, the chief executive officer now owns 1,339,487 shares of the company’s stock, valued at approximately $79,324,420.14. The trade was a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Carl Dambkowski sold 6,665 shares of the stock in a transaction 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 sale, the insider now directly owns 274,128 shares of the company’s stock, valued at $15,422,441.28. This represents a 2.37 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 114,995 shares of company stock worth $6,128,295. Corporate insiders own 36.10% of the company’s stock.

Institutional Trading of Apogee Therapeutics

Institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Apogee Therapeutics in the 3rd quarter valued at approximately $71,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of 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 purchasing an additional 285 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Apogee Therapeutics in the second quarter worth $143,000. Kennedy Capital Management LLC acquired a new position in Apogee Therapeutics during the first quarter worth $212,000. Finally, Wexford Capital LP bought a new position in Apogee Therapeutics in the third quarter valued at $230,000. 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.