Apogee Therapeutics (NASDAQ:APGE) Receives “Outperform” Rating from Wedbush

Wedbush reiterated their outperform rating on shares of Apogee Therapeutics (NASDAQ:APGE) in a research report released on Monday morning,RTT News reports. They currently have a $90.00 price objective on the stock.

A number of other brokerages have also issued reports on APGE. Canaccord Genuity Group initiated coverage on shares of Apogee Therapeutics in a report on Monday, November 25th. They issued a “buy” rating and a $89.00 price objective for the company. Guggenheim reiterated a “buy” rating on shares of Apogee Therapeutics in a report on Monday, February 10th. Finally, Canaccord Genuity Group began coverage on Apogee Therapeutics in a report on Monday, November 25th. They issued a “buy” rating and a $89.00 price objective for the company. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $89.71.

Apogee Therapeutics Stock Performance

Shares of APGE opened at $31.39 on Monday. Apogee Therapeutics has a 52-week low of $29.64 and a 52-week high of $72.29. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of -12.97 and a beta of 2.18. The business’s fifty day moving average is $40.01 and its 200-day moving average is $47.32.

Apogee Therapeutics (NASDAQ:APGE) last issued its earnings results on Monday, March 3rd. The company reported ($1.19) EPS for the quarter, missing the consensus estimate of ($0.94) by ($0.25). As a group, research analysts forecast that Apogee Therapeutics will post -3.09 EPS for the current fiscal year.

Insider Transactions at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 6,665 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 260,798 shares in the company, valued at approximately $12,014,963.86. This trade represents a 2.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Thomas Henderson sold 15,000 shares of Apogee Therapeutics stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $40.58, for a total transaction of $608,700.00. Following the transaction, the chief executive officer now directly owns 1,302,987 shares in the company, valued at $52,875,212.46. This represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,810 shares of company stock valued at $2,903,556 over the last three months. Corporate insiders own 36.10% of the company’s stock.

Institutional Trading of Apogee Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. GF Fund Management CO. LTD. purchased a new position in Apogee Therapeutics during the fourth quarter worth about $43,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Apogee Therapeutics during the 3rd quarter worth approximately $71,000. Mirae Asset Global Investments Co. Ltd. boosted its stake 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 buying an additional 285 shares during the last quarter. Optimize Financial Inc bought a new position in shares of Apogee Therapeutics in the fourth quarter valued at approximately $203,000. Finally, Aigen Investment Management LP bought a new stake in Apogee Therapeutics during the fourth quarter worth $216,000. Hedge funds and other institutional investors own 79.04% of the company’s stock.

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.