Apogee Therapeutics (NASDAQ:APGE) Stock Price Down 6.1%

Apogee Therapeutics, Inc. (NASDAQ:APGE)’s share price traded down 6.1% on Thursday . The company traded as low as $48.38 and last traded at $48.38. 191,039 shares were traded during trading, a decline of 70% from the average session volume of 635,743 shares. The stock had previously closed at $51.50.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on APGE. Wedbush reiterated an “outperform” rating and issued a $87.00 price objective (up from $40.00) on shares of Apogee Therapeutics in a report on Tuesday, March 5th. Jefferies Financial Group upped their price target on Apogee Therapeutics from $37.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Guggenheim increased their price objective on Apogee Therapeutics from $44.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Finally, Stifel Nicolaus lifted their price target on shares of Apogee Therapeutics from $46.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Apogee Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $71.83.

Apogee Therapeutics Stock Performance

The firm has a 50 day moving average of $53.26 and a two-hundred day moving average of $34.32.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly earnings results on Tuesday, March 5th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.13. On average, equities analysts forecast that Apogee Therapeutics, Inc. will post -2.67 earnings per share for the current year.

Institutional Trading of Apogee Therapeutics

Hedge funds have recently bought and sold shares of the stock. Amalgamated Bank bought a new position in shares of Apogee Therapeutics during the 3rd quarter worth about $52,000. Legal & General Group Plc bought a new position in Apogee Therapeutics during the third quarter valued at about $68,000. UBS Group AG acquired a new position in Apogee Therapeutics in the 3rd quarter valued at approximately $76,000. Virtus ETF Advisers LLC bought a new stake in shares of Apogee Therapeutics in the 4th quarter worth approximately $111,000. Finally, Strs Ohio bought a new stake in shares of Apogee Therapeutics in the 3rd quarter worth approximately $87,000. 79.04% of the stock is owned by 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.