Apogee Therapeutics (NASDAQ:APGE) Coverage Initiated at Citigroup

Investment analysts at Citigroup began coverage on shares of Apogee Therapeutics (NASDAQ:APGE) in a report issued on Thursday, Marketbeat reports. The firm set a “buy” rating and a $95.00 price target on the stock. Citigroup’s price target would suggest a potential upside of 137.86% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Canaccord Genuity Group initiated coverage on Apogee Therapeutics in a report on Monday, November 25th. They issued a “buy” rating and a $89.00 price target for the company. Wedbush reiterated an “outperform” rating and issued a $90.00 price target on shares of Apogee Therapeutics in a report on Tuesday. 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 research note on Monday, November 25th. They set a “buy” rating and a $89.00 price objective for the company. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Apogee Therapeutics currently has an average rating of “Buy” and an average target price of $92.17.

Apogee Therapeutics Stock Performance

APGE stock opened at $39.94 on Thursday. Apogee Therapeutics has a one year low of $29.10 and a one year high of $71.75. The company has a 50 day moving average price of $38.37 and a two-hundred day moving average price of $46.66. The stock has a market capitalization of $1.80 billion, a P/E ratio of -16.50 and a beta of 2.46.

Apogee Therapeutics (NASDAQ:APGE) last released its quarterly 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). Research analysts forecast that Apogee Therapeutics will post -3.09 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Michael Thomas Henderson sold 15,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $48.85, for a total transaction of $732,750.00. Following the transaction, the chief executive officer now directly owns 1,309,487 shares of the company’s stock, valued at approximately $63,968,439.95. The trade was a 1.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Carl Dambkowski sold 4,085 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $46.94, for a total value of $191,749.90. Following the transaction, the insider now directly owns 255,348 shares in the company, valued at $11,986,035.12. The trade was a 1.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,195 shares of company stock valued at $2,026,392 over the last three months. Insiders own 36.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of APGE. Victory Capital Management Inc. increased its position in Apogee Therapeutics by 121.6% in the 3rd quarter. Victory Capital Management Inc. now owns 346,358 shares of the company’s stock worth $20,345,000 after purchasing an additional 190,092 shares during the last quarter. Natixis Advisors LLC acquired a new position in shares of Apogee Therapeutics during the 3rd quarter valued at about $879,000. Jennison Associates LLC increased its holdings in shares of Apogee Therapeutics by 2.1% during the 3rd quarter. Jennison Associates LLC now owns 312,611 shares of the company’s stock valued at $18,363,000 after acquiring an additional 6,533 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of Apogee Therapeutics during the 3rd quarter valued at about $300,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Apogee Therapeutics by 17.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 280,428 shares of the company’s stock valued at $16,472,000 after acquiring an additional 41,686 shares during the last quarter. 79.04% of the stock is owned by institutional investors and hedge funds.

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.