Apogee Therapeutics (NASDAQ:APGE) Now Covered by Canaccord Genuity Group

Canaccord Genuity Group started coverage on shares of Apogee Therapeutics (NASDAQ:APGE) in a research report released on Monday, Marketbeat reports. The firm issued a buy rating and a $89.00 price target on the stock.

Separately, Wedbush restated an “outperform” rating and issued a $87.00 price target on shares of Apogee Therapeutics in a report on Tuesday, November 12th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $81.13.

Apogee Therapeutics Trading Up 0.9 %

Shares of Apogee Therapeutics stock opened at $43.85 on Monday. The business has a 50-day moving average price of $54.14 and a two-hundred day moving average price of $48.63. Apogee Therapeutics has a 1-year low of $16.39 and a 1-year high of $72.29. The company has a market cap of $1.97 billion, a P/E ratio of -18.12 and a beta of 2.93.

Insider Activity

In other news, CEO Michael Thomas Henderson sold 40,000 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 1,394,487 shares of the company’s stock, valued at $66,405,470.94. This represents a 2.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Carl Dambkowski sold 6,665 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $47.56, for a total transaction of $316,987.40. Following the completion of the sale, the insider now directly owns 280,793 shares in the company, valued at approximately $13,354,515.08. This trade represents a 2.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 114,995 shares of company stock worth $6,128,295 over the last quarter. Insiders own 36.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its position in Apogee Therapeutics by 11.2% in the third quarter. Geode Capital Management LLC now owns 823,839 shares of the company’s stock worth $48,401,000 after acquiring an additional 82,978 shares in the last quarter. Barclays PLC raised its stake in shares of Apogee Therapeutics by 369.2% during the third quarter. Barclays PLC now owns 365,046 shares of the company’s stock worth $21,443,000 after acquiring an additional 287,243 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Apogee Therapeutics by 35.7% in the 3rd quarter. Wellington Management Group LLP now owns 4,814,400 shares of the company’s stock worth $282,798,000 after acquiring an additional 1,267,451 shares during the last quarter. Wexford Capital LP purchased a new stake in shares of Apogee Therapeutics in the 3rd quarter valued at $230,000. Finally, Point72 DIFC Ltd lifted its stake in Apogee Therapeutics by 14.5% in the third quarter. Point72 DIFC Ltd now owns 19,207 shares of the company’s stock worth $1,128,000 after purchasing an additional 2,428 shares during the last quarter. Institutional investors 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.