Brokerages Set Apogee Therapeutics, Inc. (NASDAQ:APGE) Target Price at $89.71

Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) have earned an average recommendation of “Buy” from the seven analysts that are presently covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a buy recommendation. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $89.71.

A number of equities research analysts have recently commented on APGE shares. Guggenheim restated a “buy” rating on shares of Apogee Therapeutics in a research report on Thursday, December 12th. Canaccord Genuity Group started coverage on Apogee Therapeutics in a research report on Monday, November 25th. They set a “buy” rating and a $89.00 target price on the stock. Wedbush raised their target price on Apogee Therapeutics from $87.00 to $90.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Finally, Canaccord Genuity Group began coverage on shares of Apogee Therapeutics in a research note on Monday, November 25th. They issued a “buy” rating and a $89.00 price target on the stock.

Apogee Therapeutics Stock Down 16.6 %

NASDAQ:APGE opened at $41.05 on Wednesday. Apogee Therapeutics has a 52 week low of $30.84 and a 52 week high of $72.29. The stock has a market capitalization of $1.85 billion, a PE ratio of -16.96 and a beta of 2.26. The stock’s 50-day moving average price is $48.70 and its 200-day moving average price is $48.90.

Insider Activity at Apogee Therapeutics

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $59.22, for a total value of $888,300.00. Following the transaction, the chief executive officer now directly owns 1,339,487 shares of the company’s stock, valued at $79,324,420.14. This trade represents a 1.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Carl Dambkowski sold 6,665 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $46.07, for a total transaction of $307,056.55. Following the completion of the transaction, the insider now directly owns 260,798 shares in the company, valued at $12,014,963.86. This trade represents a 2.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,955 shares of company stock valued at $3,433,962. 36.10% of the stock is owned by corporate insiders.

Institutional Trading of Apogee Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its holdings in shares of Apogee Therapeutics by 35.7% during the 3rd quarter. Wellington Management Group LLP now owns 4,814,400 shares of the company’s stock worth $282,798,000 after buying an additional 1,267,451 shares during the last quarter. Driehaus Capital Management LLC increased its holdings in shares of Apogee Therapeutics by 2.6% during the 2nd quarter. Driehaus Capital Management LLC now owns 2,117,870 shares of the company’s stock worth $83,338,000 after buying an additional 54,107 shares during the last quarter. Perceptive Advisors LLC increased its holdings in shares of Apogee Therapeutics by 2.2% during the 2nd quarter. Perceptive Advisors LLC now owns 2,105,636 shares of the company’s stock worth $82,857,000 after buying an additional 45,241 shares during the last quarter. Affinity Asset Advisors LLC increased its holdings in shares of Apogee Therapeutics by 41.2% during the 2nd quarter. Affinity Asset Advisors LLC now owns 836,283 shares of the company’s stock worth $32,908,000 after buying an additional 244,190 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Apogee Therapeutics by 11.2% during the 3rd quarter. Geode Capital Management LLC now owns 823,839 shares of the company’s stock worth $48,401,000 after buying an additional 82,978 shares during the last quarter. Institutional investors and hedge funds 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.