Apogee Therapeutics, Inc. (NASDAQ:APGE) Receives Consensus Rating of “Buy” from Brokerages

Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) have received a consensus rating of “Buy” from the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a buy rating. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $89.71.

A number of brokerages recently weighed in on APGE. Canaccord Genuity Group began coverage on shares of Apogee Therapeutics in a research report on Monday, November 25th. They set a “buy” rating and a $89.00 price target for the company. Canaccord Genuity Group started coverage on shares of Apogee Therapeutics in a research report on Monday, November 25th. They set a “buy” rating and a $89.00 price target on the stock. Guggenheim reaffirmed a “buy” rating on shares of Apogee Therapeutics in a research report on Thursday, December 12th. Finally, Wedbush increased their price objective on shares of Apogee Therapeutics from $87.00 to $90.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd.

Apogee Therapeutics Trading Down 16.6 %

Shares of Apogee Therapeutics stock opened at $41.05 on Wednesday. The company has a fifty day moving average price of $48.43 and a 200 day moving average price of $49.07. Apogee Therapeutics has a twelve month low of $30.84 and a twelve month high of $72.29. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of -16.96 and a beta of 2.26.

Insider Buying and Selling at Apogee Therapeutics

In related news, CEO Michael Thomas Henderson sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $59.22, for a total transaction of $888,300.00. Following the completion of the sale, the chief executive officer now directly owns 1,339,487 shares in the company, valued at approximately $79,324,420.14. This trade represents a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Carl Dambkowski sold 6,665 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $59.12, for a total transaction of $394,034.80. Following the sale, the insider now owns 267,463 shares of the company’s stock, valued at $15,812,412.56. The trade was a 2.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,955 shares of company stock worth $3,433,962. 36.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Apogee Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in Apogee Therapeutics by 35.7% in the 3rd quarter. Wellington Management Group LLP now owns 4,814,400 shares of the company’s stock worth $282,798,000 after purchasing an additional 1,267,451 shares during the period. Driehaus Capital Management LLC lifted its position in Apogee Therapeutics by 2.6% in the 2nd quarter. Driehaus Capital Management LLC now owns 2,117,870 shares of the company’s stock worth $83,338,000 after buying an additional 54,107 shares in the last quarter. Perceptive Advisors LLC raised its holdings in shares of Apogee Therapeutics by 2.2% during the 2nd quarter. Perceptive Advisors LLC now owns 2,105,636 shares of the company’s stock valued at $82,857,000 after purchasing an additional 45,241 shares in the last quarter. Affinity Asset Advisors LLC raised its holdings in shares of Apogee Therapeutics by 41.2% during the 2nd quarter. Affinity Asset Advisors LLC now owns 836,283 shares of the company’s stock valued at $32,908,000 after purchasing an additional 244,190 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Apogee Therapeutics by 11.2% during the 3rd quarter. Geode Capital Management LLC now owns 823,839 shares of the company’s stock valued at $48,401,000 after purchasing an additional 82,978 shares in the last quarter. Institutional investors and hedge funds own 79.04% of the company’s stock.

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.