Apogee Therapeutics’ (APGE) Buy Rating Reaffirmed at Guggenheim

Guggenheim reissued their buy rating on shares of Apogee Therapeutics (NASDAQ:APGE) in a report released on Monday morning,Benzinga reports.

Several other analysts have also recently issued reports on APGE. Wedbush upped their target price 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 began coverage on Apogee Therapeutics in a research report on Monday, November 25th. They set a “buy” rating and a $89.00 price objective on the stock. Finally, Canaccord Genuity Group started coverage on Apogee Therapeutics in a report on Monday, November 25th. They issued a “buy” rating and a $89.00 target price for the company. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Apogee Therapeutics currently has an average rating of “Buy” and a consensus target price of $89.71.

Apogee Therapeutics Trading Down 0.9 %

NASDAQ:APGE opened at $39.35 on Monday. The business’s 50-day moving average is $44.11 and its 200 day moving average is $48.45. Apogee Therapeutics has a 12 month low of $33.14 and a 12 month high of $72.29. The company has a market capitalization of $1.77 billion, a P/E ratio of -16.26 and a beta of 2.18.

Apogee Therapeutics (NASDAQ:APGE) last posted its earnings results on Tuesday, November 12th. The company reported ($0.86) EPS for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.13). On average, research analysts forecast that Apogee Therapeutics will post -3.09 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Michael Thomas Henderson sold 15,000 shares of Apogee Therapeutics stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $46.58, for a total transaction of $698,700.00. Following the completion of the sale, the chief executive officer now owns 1,324,487 shares of the company’s stock, valued at approximately $61,694,604.46. The trade was a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Carl Dambkowski sold 6,665 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $46.07, for a total value of $307,056.55. Following the completion of the sale, the insider now owns 260,798 shares of the company’s stock, valued at $12,014,963.86. The trade was a 2.49 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 63,810 shares of company stock valued at $2,903,556. Insiders own 36.10% of the company’s stock.

Institutional Investors Weigh In On Apogee Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of APGE. Commonwealth Equity Services LLC purchased a new position in Apogee Therapeutics during the 4th quarter valued at about $222,000. Erste Asset Management GmbH purchased a new position in Apogee Therapeutics during the fourth quarter valued at approximately $1,099,000. Swiss National Bank raised its stake in Apogee Therapeutics by 17.5% in the fourth quarter. Swiss National Bank now owns 44,300 shares of the company’s stock worth $2,007,000 after buying an additional 6,600 shares in the last quarter. Arizona State Retirement System lifted its holdings in Apogee Therapeutics by 17.3% during the fourth quarter. Arizona State Retirement System now owns 6,517 shares of the company’s stock worth $295,000 after buying an additional 960 shares during the period. Finally, Aigen Investment Management LP bought a new stake in Apogee Therapeutics during the 4th quarter valued at $216,000. 79.04% of the stock is 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.