Apogee Therapeutics Target of Unusually Large Options Trading (NASDAQ:APGE)

Apogee Therapeutics Inc. (NASDAQ:APGE) saw some unusual options trading on Monday. Traders purchased 3,810 put options on the stock. This is an increase of approximately 728% compared to the typical volume of 460 put options.

Apogee Therapeutics Price Performance

NASDAQ APGE opened at $39.24 on Tuesday. The stock has a market capitalization of $1.81 billion, a PE ratio of -10.90 and a beta of 1.47. Apogee Therapeutics has a 1 year low of $26.20 and a 1 year high of $63.50. The business’s 50-day moving average is $40.38 and its 200 day moving average is $38.95.

Apogee Therapeutics (NASDAQ:APGE) last posted its earnings results on Monday, May 12th. The company reported ($0.95) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.19) by $0.24. As a group, equities research analysts anticipate that Apogee Therapeutics will post -3.09 earnings per share for the current year.

Insider Transactions at Apogee Therapeutics

In other news, insider Carl Dambkowski sold 10,090 shares of Apogee Therapeutics stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $45.09, for a total value of $454,958.10. Following the transaction, the insider owned 238,998 shares in the company, valued at approximately $10,776,419.82. The trade was a 4.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 15,540 shares of company stock worth $653,093 over the last three months. 42.77% of the stock is currently owned by company insiders.

Institutional Trading of Apogee Therapeutics

Several large investors have recently bought and sold shares of the company. Rhumbline Advisers boosted its position in Apogee Therapeutics by 3.2% during the 1st quarter. Rhumbline Advisers now owns 54,385 shares of the company’s stock valued at $2,032,000 after acquiring an additional 1,665 shares in the last quarter. Woodline Partners LP boosted its position in Apogee Therapeutics by 4.5% during the 1st quarter. Woodline Partners LP now owns 1,061,053 shares of the company’s stock valued at $39,641,000 after acquiring an additional 45,445 shares in the last quarter. Octagon Capital Advisors LP bought a new stake in Apogee Therapeutics during the 1st quarter valued at approximately $399,752,000. Millennium Management LLC boosted its position in Apogee Therapeutics by 100.0% during the 1st quarter. Millennium Management LLC now owns 260,335 shares of the company’s stock valued at $9,726,000 after acquiring an additional 130,164 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Apogee Therapeutics by 2.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,529 shares of the company’s stock valued at $921,000 after acquiring an additional 694 shares in the last quarter. 79.04% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on APGE shares. Guggenheim reiterated a “buy” rating and issued a $116.00 price objective on shares of Apogee Therapeutics in a report on Wednesday, July 2nd. Citigroup reiterated a “buy” rating on shares of Apogee Therapeutics in a report on Monday. BTIG Research raised their target price on Apogee Therapeutics from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Wedbush reissued an “outperform” rating and issued a $90.00 target price on shares of Apogee Therapeutics in a research note on Monday. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $99.00.

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.