Apogee Therapeutics, Inc. (NASDAQ:APGE) Given Average Recommendation of “Buy” by Analysts

Apogee Therapeutics, Inc. (NASDAQ:APGE) has earned an average rating of “Buy” from the seven analysts that are presently covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a buy rating. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $89.71.

APGE has been the topic of a number of research reports. Canaccord Genuity Group assumed coverage on Apogee Therapeutics in a report on Monday, November 25th. They issued a “buy” rating and a $89.00 price objective on the stock. Guggenheim reissued a “buy” rating on shares of Apogee Therapeutics in a research report on Monday, February 10th. Canaccord Genuity Group began coverage on shares of Apogee Therapeutics in a report on Monday, November 25th. They set a “buy” rating and a $89.00 price target on the stock. Finally, Wedbush upped their price objective on shares of Apogee Therapeutics from $87.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd.

Insider Activity

In other news, insider Carl Dambkowski sold 3,520 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $40.69, for a total value of $143,228.80. Following the sale, the insider now directly owns 252,623 shares of the company’s stock, valued at approximately $10,279,229.87. This trade represents a 1.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Thomas Henderson sold 15,000 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $40.58, for a total value of $608,700.00. Following the transaction, the chief executive officer now directly owns 1,302,987 shares of the company’s stock, valued at $52,875,212.46. This represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 63,810 shares of company stock valued at $2,903,556 over the last 90 days. 36.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Apogee Therapeutics

Several hedge funds have recently modified their holdings of APGE. GF Fund Management CO. LTD. acquired a new position in Apogee Therapeutics during the 4th quarter valued at $43,000. Neo Ivy Capital Management bought a new position in shares of Apogee Therapeutics during the 4th quarter worth about $1,745,000. Woodline Partners LP raised its position in shares of Apogee Therapeutics by 4.0% during the fourth quarter. Woodline Partners LP now owns 1,015,608 shares of the company’s stock valued at $46,007,000 after buying an additional 39,453 shares during the last quarter. Soleus Capital Management L.P. bought a new stake in shares of Apogee Therapeutics in the fourth quarter valued at about $3,171,000. Finally, Squarepoint Ops LLC grew its position in Apogee Therapeutics by 90.9% during the fourth quarter. Squarepoint Ops LLC now owns 36,344 shares of the company’s stock worth $1,646,000 after buying an additional 17,301 shares in the last quarter. 79.04% of the stock is owned by institutional investors.

Apogee Therapeutics Price Performance

Shares of APGE stock opened at $31.08 on Thursday. Apogee Therapeutics has a fifty-two week low of $30.64 and a fifty-two week high of $72.29. The stock’s 50-day moving average is $40.99 and its two-hundred day moving average is $47.58. The firm has a market cap of $1.40 billion, a P/E ratio of -12.84 and a beta of 2.18.

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.