Apogee Therapeutics (NASDAQ:APGE) Shares Down 6% – Should You Sell?

Apogee Therapeutics, Inc. (NASDAQ:APGE) shares traded down 6% on Thursday . The stock traded as low as $48.52 and last traded at $48.92. 277,701 shares traded hands during trading, a decline of 44% from the average session volume of 497,248 shares. The stock had previously closed at $52.02.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Guggenheim reaffirmed a “buy” rating and set a $110.00 price objective (up previously from $95.00) on shares of Apogee Therapeutics in a research report on Tuesday. Wedbush raised their price objective on shares of Apogee Therapeutics from $87.00 to $90.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Canaccord Genuity Group initiated coverage on shares of Apogee Therapeutics in a research report on Monday, November 25th. They issued a “buy” rating and a $89.00 price target on the stock. Finally, Canaccord Genuity Group initiated coverage on shares of Apogee Therapeutics in a research report on Monday, November 25th. They issued a “buy” rating and a $89.00 price target on the stock. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Apogee Therapeutics has a consensus rating of “Buy” and a consensus price target of $83.88.

Apogee Therapeutics Price Performance

The firm’s 50 day moving average price is $52.41 and its 200-day moving average price is $48.31.

Insider Transactions at Apogee Therapeutics

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 15,000 shares of Apogee Therapeutics stock in a transaction 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 sale, the chief executive officer now owns 1,339,487 shares in the company, valued at $79,324,420.14. The trade was a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Carl Dambkowski sold 6,665 shares of Apogee Therapeutics stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $56.26, for a total transaction of $374,972.90. Following the sale, the insider now owns 274,128 shares in the company, valued at $15,422,441.28. This represents a 2.37 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,995 shares of company stock worth $4,912,264. Insiders own 36.10% of the company’s stock.

Institutional Investors Weigh In On Apogee Therapeutics

Institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Apogee Therapeutics during the third quarter worth $71,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Apogee Therapeutics by 21.2% in the 3rd 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 in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Apogee Therapeutics in the 2nd quarter valued at $143,000. Wexford Capital LP acquired a new stake in shares of Apogee Therapeutics in the 3rd quarter valued at $230,000. Finally, Arizona State Retirement System boosted 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 in the last quarter. 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.