Brokerages Set Apogee Therapeutics, Inc. (NASDAQ:APGE) Price Target at $78.50

Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) have received a consensus recommendation of “Buy” from the six research firms that are currently covering the firm, MarketBeat reports. Six analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have covered the stock in the last year is $78.50.

Separately, Wedbush reiterated an “outperform” rating and issued a $87.00 price target on shares of Apogee Therapeutics in a research note on Tuesday, November 12th.

Apogee Therapeutics Stock Down 3.9 %

Shares of NASDAQ:APGE opened at $43.28 on Tuesday. Apogee Therapeutics has a 12 month low of $16.39 and a 12 month high of $72.29. The company’s fifty day simple moving average is $54.45 and its 200 day simple moving average is $48.81. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of -17.88 and a beta of 2.93.

Insider Transactions at Apogee Therapeutics

In related news, CEO Michael Thomas Henderson sold 15,000 shares of Apogee Therapeutics stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $59.22, for a total transaction of $888,300.00. Following the completion of the sale, the chief executive officer now owns 1,339,487 shares of the company’s stock, valued at approximately $79,324,420.14. The trade was a 1.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Carl Dambkowski sold 6,665 shares of Apogee Therapeutics stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $47.56, for a total transaction of $316,987.40. Following the sale, the insider now directly owns 280,793 shares of the company’s stock, valued at $13,354,515.08. The trade was a 2.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 114,995 shares of company stock worth $6,128,295 in the last ninety days. Insiders own 36.10% of the company’s stock.

Institutional Trading of Apogee Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP boosted its holdings in 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 purchasing an additional 1,267,451 shares during the period. Driehaus Capital Management LLC boosted its holdings in Apogee Therapeutics by 2.6% in the 2nd quarter. Driehaus Capital Management LLC now owns 2,117,870 shares of the company’s stock valued at $83,338,000 after purchasing an additional 54,107 shares during the period. Perceptive Advisors LLC boosted its holdings in Apogee Therapeutics by 2.2% in the 2nd quarter. Perceptive Advisors LLC now owns 2,105,636 shares of the company’s stock valued at $82,857,000 after purchasing an additional 45,241 shares during the period. Vanguard Group Inc. boosted its holdings in Apogee Therapeutics by 60.7% in the 1st quarter. Vanguard Group Inc. now owns 1,868,666 shares of the company’s stock valued at $124,173,000 after purchasing an additional 705,795 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Apogee Therapeutics by 51.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,170,327 shares of the company’s stock valued at $77,770,000 after purchasing an additional 399,646 shares during the period. Institutional investors own 79.04% of the company’s stock.

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.