Brokerages Set Apogee Therapeutics, Inc. (NASDAQ:APGE) Price Target at $83.88

Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) have earned a consensus rating of “Buy” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. Eight analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $83.88.

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

Apogee Therapeutics Stock Performance

Shares of NASDAQ:APGE opened at $47.21 on Friday. The company has a market capitalization of $2.13 billion, a PE ratio of -19.51 and a beta of 2.30. The stock has a fifty day moving average of $51.27 and a 200-day moving average of $48.31. Apogee Therapeutics has a one year low of $22.20 and a one year high of $72.29.

Insider Activity at Apogee Therapeutics

In other news, insider Carl Dambkowski sold 6,665 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $59.12, for a total transaction of $394,034.80. Following the completion of the sale, the insider now directly owns 267,463 shares of the company’s stock, valued at $15,812,412.56. This trade represents a 2.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Thomas Henderson sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $56.23, for a total value of $2,249,200.00. Following the completion of the sale, the chief executive officer now directly owns 1,354,487 shares of the company’s stock, valued at approximately $76,162,804.01. The trade was a 2.87 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 94,535 shares of company stock valued at $5,133,635. Corporate insiders own 36.10% of the company’s stock.

Hedge Funds Weigh In On Apogee Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Apogee Therapeutics during the 3rd quarter worth $71,000. Mirae Asset Global Investments Co. Ltd. increased its position in Apogee Therapeutics by 21.2% during the third 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. Allspring Global Investments Holdings LLC acquired a new position in Apogee Therapeutics during the second quarter worth $143,000. Wexford Capital LP bought a new position in Apogee Therapeutics during the third quarter valued at about $230,000. Finally, Arizona State Retirement System lifted its position in shares of Apogee Therapeutics by 4.5% in the second quarter. Arizona State Retirement System now owns 5,993 shares of the company’s stock worth $236,000 after buying an additional 258 shares during the last quarter. 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.