Apogee Therapeutics (NASDAQ:APGE) Reaches New 1-Year Low After Earnings Miss

Apogee Therapeutics, Inc. (NASDAQ:APGE) shares hit a new 52-week low during mid-day trading on Tuesday following a weaker than expected earnings announcement. The company traded as low as $29.15 and last traded at $29.20, with a volume of 199917 shares. The stock had previously closed at $31.39.

The company reported ($1.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.94) by ($0.25).

Wall Street Analysts Forecast Growth

Several research analysts recently commented on APGE shares. Guggenheim reiterated a “buy” rating on shares of Apogee Therapeutics in a research note on Monday, February 10th. 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 target price on the stock. Canaccord Genuity Group initiated coverage on shares of Apogee Therapeutics in a research report on Monday, November 25th. They set a “buy” rating and a $89.00 price target for the company. Finally, Wedbush restated an “outperform” rating and issued a $90.00 price target on shares of Apogee Therapeutics in a research note on Monday. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $89.71.

Insider Buying and Selling

In related news, CEO Michael Thomas Henderson sold 15,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $48.85, for a total value of $732,750.00. Following the completion of the transaction, the chief executive officer now directly owns 1,309,487 shares of the company’s stock, valued at $63,968,439.95. This represents a 1.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mark C. Mckenna bought 20,000 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were acquired at an average cost of $49.54 per share, for a total transaction of $990,800.00. Following the purchase, the director now directly owns 20,000 shares in the company, valued at $990,800. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 42,145 shares of company stock worth $1,897,799 in the last three months. 36.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Apogee Therapeutics

Several institutional investors have recently bought and sold shares of the stock. GF Fund Management CO. LTD. acquired a new position in shares of Apogee Therapeutics during the fourth quarter valued at approximately $43,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Apogee Therapeutics in the 3rd quarter worth $71,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Apogee Therapeutics by 21.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,628 shares of the company’s stock valued at $94,000 after buying an additional 285 shares during the period. Optimize Financial Inc bought a new position in Apogee Therapeutics during the fourth quarter valued at about $203,000. Finally, Aigen Investment Management LP bought a new position in Apogee Therapeutics during the fourth quarter valued at about $216,000. Institutional investors and hedge funds own 79.04% of the company’s stock.

Apogee Therapeutics Price Performance

The business has a fifty day moving average of $40.01 and a 200-day moving average of $47.32. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of -12.55 and a beta of 2.46.

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.