Wedbush Decreases Earnings Estimates for Apogee Therapeutics

Apogee Therapeutics, Inc. (NASDAQ:APGE) – Equities research analysts at Wedbush reduced their FY2024 EPS estimates for shares of Apogee Therapeutics in a research note issued to investors on Tuesday, November 12th. Wedbush analyst D. Nierengarten now expects that the company will post earnings of ($3.10) per share for the year, down from their previous estimate of ($2.67). Wedbush currently has a “Outperform” rating and a $87.00 target price on the stock. The consensus estimate for Apogee Therapeutics’ current full-year earnings is ($2.57) per share. Wedbush also issued estimates for Apogee Therapeutics’ Q4 2024 earnings at ($0.97) EPS, Q1 2025 earnings at ($0.99) EPS, Q2 2025 earnings at ($1.01) EPS, Q3 2025 earnings at ($0.95) EPS, Q4 2025 earnings at ($0.94) EPS, FY2025 earnings at ($3.90) EPS, FY2026 earnings at ($3.97) EPS, FY2027 earnings at ($4.35) EPS and FY2028 earnings at ($5.69) EPS.

Apogee Therapeutics Trading Down 7.4 %

Shares of APGE stock opened at $47.25 on Friday. Apogee Therapeutics has a 12 month low of $16.39 and a 12 month high of $72.29. The company has a market capitalization of $2.13 billion, a P/E ratio of -19.52 and a beta of 2.93. The stock has a 50 day moving average of $54.78 and a two-hundred day moving average of $49.00.

Institutional Trading of Apogee Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in APGE. Swiss National Bank lifted its holdings in Apogee Therapeutics by 25.2% during the 1st quarter. Swiss National Bank now owns 41,300 shares of the company’s stock worth $2,744,000 after buying an additional 8,300 shares in the last quarter. Sei Investments Co. bought a new position in Apogee Therapeutics in the first quarter valued at approximately $648,000. ProShare Advisors LLC acquired a new stake in Apogee Therapeutics during the 1st quarter worth $667,000. Vanguard Group Inc. raised its position in shares of Apogee Therapeutics by 60.7% during the 1st quarter. Vanguard Group Inc. now owns 1,868,666 shares of the company’s stock valued at $124,173,000 after acquiring an additional 705,795 shares during the last quarter. Finally, Ameritas Investment Partners Inc. lifted its stake in shares of Apogee Therapeutics by 111.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 4,126 shares of the company’s stock valued at $274,000 after purchasing an additional 2,172 shares during the period. 79.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Apogee Therapeutics

In related news, CFO Jane Henderson sold 6,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $48.26, for a total transaction of $289,560.00. Following the completion of the sale, the chief financial officer now owns 200,871 shares in the company, valued at $9,694,034.46. This trade represents a 2.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Carl Dambkowski sold 6,665 shares of Apogee Therapeutics 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 transaction, the insider now owns 280,793 shares of the company’s stock, valued at $13,354,515.08. This trade represents a 2.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 120,995 shares of company stock valued at $6,417,855 in the last 90 days. 36.10% of the stock is currently owned by company insiders.

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.