Apogee Therapeutics (NASDAQ:APGE) Stock Price Down 7.1% – What’s Next?

Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) were down 7.1% during trading on Tuesday . The company traded as low as $36.96 and last traded at $36.58. Approximately 154,228 shares changed hands during trading, a decline of 69% from the average daily volume of 493,551 shares. The stock had previously closed at $39.35.

Analyst Ratings Changes

APGE has been the subject of a number of research reports. Canaccord Genuity Group started coverage on Apogee Therapeutics in a research report on Monday, November 25th. They issued a “buy” rating and a $89.00 price objective for the company. Canaccord Genuity Group initiated coverage on Apogee Therapeutics in a report on Monday, November 25th. They issued a “buy” rating and a $89.00 price target for the company. Wedbush upped their price objective on Apogee Therapeutics from $87.00 to $90.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Finally, Guggenheim reissued a “buy” rating on shares of Apogee Therapeutics in a research report on Monday. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Apogee Therapeutics presently has a consensus rating of “Buy” and an average price target of $89.71.

Apogee Therapeutics Stock Down 10.2 %

The company’s 50 day moving average price is $44.11 and its 200-day moving average price is $48.45. The stock has a market cap of $1.59 billion, a P/E ratio of -14.57 and a beta of 2.18.

Apogee Therapeutics (NASDAQ:APGE) last announced its earnings results on Tuesday, November 12th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.73) by ($0.13). Equities research analysts anticipate that Apogee Therapeutics, Inc. 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 the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $40.58, for a total value of $608,700.00. Following the completion of the transaction, the chief executive officer now directly owns 1,302,987 shares of the company’s stock, valued at $52,875,212.46. This represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Carl Dambkowski sold 4,540 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $48.76, for a total transaction of $221,370.40. Following the transaction, the insider now owns 258,073 shares of the company’s stock, valued at approximately $12,583,639.48. The trade was a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 63,810 shares of company stock valued at $2,903,556 over the last quarter. Insiders own 36.10% of the company’s stock.

Institutional Trading of Apogee Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of APGE. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Apogee Therapeutics during the 3rd quarter valued at approximately $71,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in 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 worth $94,000 after purchasing an additional 285 shares during the period. Aigen Investment Management LP bought a new position in Apogee Therapeutics in the 4th quarter worth about $216,000. Commonwealth Equity Services LLC bought a new position in shares of Apogee Therapeutics in the fourth quarter valued at approximately $222,000. Finally, Wexford Capital LP bought a new position in shares of Apogee Therapeutics in the third quarter valued at approximately $230,000. 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.