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

Apogee Therapeutics, Inc. (NASDAQ:APGE) has earned a consensus rating of “Buy” from the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $81.13.

A number of research analysts have recently issued reports on the company. Canaccord Genuity Group assumed coverage on Apogee Therapeutics in a report on Monday. They issued a “buy” rating and a $89.00 price target on the stock. Canaccord Genuity Group assumed coverage on Apogee Therapeutics in a report on Monday. They issued a “buy” rating and a $89.00 price target on the stock. Finally, Wedbush reiterated an “outperform” rating and issued a $87.00 price target on shares of Apogee Therapeutics in a report on Tuesday, November 12th.

Apogee Therapeutics Stock Up 0.9 %

APGE opened at $43.85 on Tuesday. The stock’s fifty day moving average is $54.14 and its two-hundred day moving average is $48.63. The company has a market capitalization of $1.97 billion, a P/E ratio of -18.12 and a beta of 2.93. Apogee Therapeutics has a 52 week low of $16.39 and a 52 week high of $72.29.

Insider Transactions at Apogee Therapeutics

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 40,000 shares of Apogee Therapeutics stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $47.62, for a total transaction of $1,904,800.00. Following the completion of the sale, the chief executive officer now owns 1,394,487 shares of the company’s stock, valued at approximately $66,405,470.94. The trade was a 2.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Carl Dambkowski sold 6,665 shares of Apogee Therapeutics stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $56.26, for a total value of $374,972.90. Following the sale, the insider now directly owns 274,128 shares of the company’s stock, valued at approximately $15,422,441.28. This represents a 2.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 114,995 shares of company stock valued at $6,128,295 in the last quarter. 36.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Apogee Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in shares of Apogee Therapeutics by 11.2% in the 3rd quarter. Geode Capital Management LLC now owns 823,839 shares of the company’s stock valued at $48,401,000 after buying an additional 82,978 shares during the period. Barclays PLC lifted its holdings in shares of Apogee Therapeutics by 369.2% in the 3rd quarter. Barclays PLC now owns 365,046 shares of the company’s stock valued at $21,443,000 after buying an additional 287,243 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Apogee Therapeutics by 35.7% in the 3rd quarter. Wellington Management Group LLP now owns 4,814,400 shares of the company’s stock valued at $282,798,000 after buying an additional 1,267,451 shares during the period. Wexford Capital LP acquired a new position in shares of Apogee Therapeutics in the 3rd quarter valued at about $230,000. Finally, Point72 DIFC Ltd lifted its holdings in shares of Apogee Therapeutics by 14.5% in the 3rd quarter. Point72 DIFC Ltd now owns 19,207 shares of the company’s stock valued at $1,128,000 after buying an additional 2,428 shares during the period. 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.