Apogee Therapeutics (NASDAQ:APGE) Shares Gap Up to $23.50

Apogee Therapeutics, Inc. (NASDAQ:APGE) gapped up before the market opened on Wednesday . The stock had previously closed at $23.50, but opened at $24.45. Apogee Therapeutics shares last traded at $23.55, with a volume of 10,117 shares traded.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on APGE shares. Jefferies Financial Group started coverage on shares of Apogee Therapeutics in a research report on Tuesday, August 8th. They set a “buy” rating and a $29.00 price target on the stock. TD Cowen started coverage on shares of Apogee Therapeutics in a research report on Tuesday, August 8th. They set an “outperform” rating on the stock. William Blair reiterated an “outperform” rating and set a $40.00 price target on shares of Apogee Therapeutics in a research report on Monday. Stifel Nicolaus initiated coverage on shares of Apogee Therapeutics in a research report on Tuesday, August 8th. They issued a “buy” rating and a $34.00 target price on the stock. Finally, Wedbush initiated coverage on shares of Apogee Therapeutics in a research report on Tuesday, August 8th. They issued an “outperform” rating and a $40.00 target price on the stock. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Apogee Therapeutics has a consensus rating of “Buy” and an average target price of $34.40.

Apogee Therapeutics Stock Performance

Apogee Therapeutics (NASDAQ:APGE) last issued its earnings results on Monday, August 28th. The company reported ($3.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.49) by ($1.29). Equities analysts expect that Apogee Therapeutics, Inc. will post -2.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Nimish P. Shah bought 1,750,000 shares of the stock in a transaction that occurred on Thursday, July 13th. The stock was acquired at an average price of $17.00 per share, with a total value of $29,750,000.00. Following the completion of the purchase, the director now directly owns 1,750,000 shares of the company’s stock, valued at $29,750,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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), 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.