Apogee Therapeutics (NASDAQ:APGE) Price Target Raised to $90.00 at Wedbush

Apogee Therapeutics (NASDAQ:APGE) had its price objective boosted by Wedbush from $87.00 to $90.00 in a research note released on Monday, MarketBeat Ratings reports. The brokerage currently has an outperform rating on the stock.

Several other equities analysts have also recently commented on APGE. Canaccord Genuity Group initiated coverage on shares of Apogee Therapeutics in a research note on Monday, November 25th. They set a “buy” rating and a $89.00 price objective for the company. Guggenheim boosted their target price on Apogee Therapeutics from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Finally, Canaccord Genuity Group started coverage on shares of Apogee Therapeutics in a report on Monday, November 25th. They issued a “buy” rating and a $89.00 price target on the stock. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $83.88.

Apogee Therapeutics Trading Up 2.2 %

Shares of NASDAQ APGE opened at $46.14 on Monday. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of -19.14 and a beta of 2.93. The stock has a fifty day simple moving average of $53.40 and a two-hundred day simple moving average of $48.39. Apogee Therapeutics has a 1-year low of $18.84 and a 1-year high of $72.29.

Insider Buying and Selling

In related news, insider Carl Dambkowski sold 6,665 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $56.26, for a total value of $374,972.90. Following the sale, the insider now owns 274,128 shares in the company, valued at approximately $15,422,441.28. This trade represents a 2.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael Thomas Henderson sold 40,000 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $47.62, for a total value of $1,904,800.00. Following the sale, the chief executive officer now owns 1,394,487 shares of the company’s stock, valued at approximately $66,405,470.94. This trade represents a 2.79 % 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 in the last three months. 36.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Apogee Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in APGE. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Apogee Therapeutics during the third quarter valued at about $71,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of 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. Allspring Global Investments Holdings LLC bought a new position in Apogee Therapeutics during the 2nd quarter valued at about $143,000. Wexford Capital LP purchased a new position in Apogee Therapeutics during the 3rd quarter valued at $230,000. Finally, Intech Investment Management LLC bought a new position in shares of Apogee Therapeutics in the third quarter worth about $300,000. Hedge funds and other 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.