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

Wedbush reaffirmed their outperform rating on shares of Apogee Therapeutics (NASDAQ:APGE) in a research report released on Tuesday morning,RTT News reports. The brokerage currently has a $87.00 target price on the stock.

Apogee Therapeutics Stock Performance

Shares of Apogee Therapeutics stock opened at $57.35 on Tuesday. Apogee Therapeutics has a fifty-two week low of $14.91 and a fifty-two week high of $72.29. The company has a market capitalization of $2.58 billion, a P/E ratio of -27.71 and a beta of 2.93. The company has a fifty day moving average of $54.61 and a 200 day moving average of $48.98.

Apogee Therapeutics (NASDAQ:APGE) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.60) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.60). Analysts forecast that Apogee Therapeutics will post -2.57 EPS for the current year.

Insider Buying and Selling at Apogee Therapeutics

In other news, CFO Jane Henderson sold 6,000 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $48.26, for a total value of $289,560.00. Following the transaction, the chief financial officer now owns 200,871 shares of the company’s stock, valued at approximately $9,694,034.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Jane Henderson sold 6,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $48.26, for a total transaction of $289,560.00. Following the completion of the transaction, the chief financial officer now owns 200,871 shares in the company, valued at $9,694,034.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Carl Dambkowski sold 6,665 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $59.12, for a total value of $394,034.80. Following the completion of the sale, the insider now owns 267,463 shares in the company, valued at $15,812,412.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 120,995 shares of company stock valued at $6,417,855 in the last three months. 36.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of APGE. Mirae Asset Global Investments Co. Ltd. lifted its position in Apogee Therapeutics by 21.2% during 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. EntryPoint Capital LLC grew its position in Apogee Therapeutics by 44.7% in the first quarter. EntryPoint Capital LLC now owns 1,997 shares of the company’s stock worth $133,000 after acquiring an additional 617 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Apogee Therapeutics during the second quarter worth approximately $143,000. Kennedy Capital Management LLC purchased a new stake in Apogee Therapeutics during the first quarter valued at approximately $212,000. Finally, Arizona State Retirement System lifted its stake in shares of Apogee Therapeutics by 4.5% in the 2nd quarter. Arizona State Retirement System now owns 5,993 shares of the company’s stock valued at $236,000 after purchasing an additional 258 shares during the last quarter. 79.04% of the stock is owned by hedge funds and other institutional investors.

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.