Apogee Therapeutics (NASDAQ:APGE) Earns Outperform Rating from Wedbush

Apogee Therapeutics (NASDAQ:APGE)‘s stock had its “outperform” rating reiterated by investment analysts at Wedbush in a note issued to investors on Tuesday,RTT News reports. They currently have a $87.00 price target on the stock. Wedbush’s target price would suggest a potential upside of 64.80% from the stock’s previous close.

Apogee Therapeutics Trading Down 8.0 %

APGE opened at $52.79 on Tuesday. The company has a market cap of $2.38 billion, a P/E ratio of -21.81 and a beta of 2.93. Apogee Therapeutics has a 12 month low of $16.38 and a 12 month high of $72.29. The business’s 50-day moving average price is $54.73 and its 200-day moving average price is $49.00.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.60) earnings per share for the quarter, meeting the consensus estimate of ($0.60). Equities research analysts forecast that Apogee Therapeutics will post -2.57 earnings per share for the current fiscal year.

Insider Activity at Apogee Therapeutics

In related news, CEO Michael Thomas Henderson sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $47.62, for a total value of $1,904,800.00. Following the sale, the chief executive officer now directly owns 1,394,487 shares of the company’s stock, valued at $66,405,470.94. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Apogee Therapeutics news, insider Carl Dambkowski sold 6,665 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $59.12, for a total value of $394,034.80. Following the completion of the transaction, the insider now directly owns 267,463 shares in the company, valued at approximately $15,812,412.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Thomas Henderson sold 40,000 shares of the firm’s 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 directly owns 1,394,487 shares of the company’s stock, valued at approximately $66,405,470.94. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 120,995 shares of company stock worth $6,417,855 in the last three months. 36.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Apogee Therapeutics

Several hedge funds have recently made changes to their positions in the company. Arizona State Retirement System boosted its stake in Apogee Therapeutics by 4.5% during the second quarter. Arizona State Retirement System now owns 5,993 shares of the company’s stock worth $236,000 after acquiring an additional 258 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Apogee Therapeutics by 21.2% during the third 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 during the last quarter. EntryPoint Capital LLC lifted its holdings in shares of Apogee Therapeutics by 44.7% during the first quarter. EntryPoint Capital LLC now owns 1,997 shares of the company’s stock valued at $133,000 after purchasing an additional 617 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Apogee Therapeutics by 26.3% in the 2nd quarter. Principal Financial Group Inc. now owns 6,442 shares of the company’s stock worth $253,000 after purchasing an additional 1,340 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its stake in shares of Apogee Therapeutics by 25.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 8,800 shares of the company’s stock worth $517,000 after buying an additional 1,800 shares during the last quarter. 79.04% of the stock is currently 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.