Apogee Therapeutics (NASDAQ:APGE) Now Covered by Analysts at Royal Bank Of Canada

Royal Bank Of Canada began coverage on shares of Apogee Therapeutics (NASDAQ:APGE) in a report issued on Thursday morning, Marketbeat reports. The firm issued an outperform rating and a $60.00 target price on the stock.

Other research analysts have also recently issued research reports about the company. Citigroup reissued a “buy” rating on shares of Apogee Therapeutics in a research note on Thursday, August 28th. Wedbush reissued an “outperform” rating and issued a $90.00 price objective on shares of Apogee Therapeutics in a research note on Monday, August 11th. Bank of America increased their price objective on Apogee Therapeutics from $78.00 to $87.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. BTIG Research increased their price objective on Apogee Therapeutics from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 7th. Finally, Guggenheim reissued a “buy” rating and issued a $116.00 price objective on shares of Apogee Therapeutics in a research note on Wednesday, July 2nd. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $92.63.

Apogee Therapeutics Stock Performance

Shares of NASDAQ APGE opened at $37.52 on Thursday. The business’s 50 day moving average price is $37.67 and its 200-day moving average price is $38.19. Apogee Therapeutics has a fifty-two week low of $26.20 and a fifty-two week high of $63.50. The company has a market cap of $1.73 billion, a price-to-earnings ratio of -9.08 and a beta of 1.42.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly earnings data on Monday, August 11th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.03) by ($0.10). Sell-side analysts predict that Apogee Therapeutics will post -3.09 earnings per share for the current year.

Insider Transactions at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 2,725 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $37.87, for a total transaction of $103,195.75. Following the sale, the insider owned 233,548 shares of the company’s stock, valued at approximately $8,844,462.76. This trade represents a 1.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders sold 15,540 shares of company stock worth $661,104. 42.77% of the stock is currently owned by company insiders.

Institutional Trading of Apogee Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Octagon Capital Advisors LP purchased a new stake in shares of Apogee Therapeutics during the 1st quarter valued at $399,752,000. Wellington Management Group LLP lifted its holdings in shares of Apogee Therapeutics by 21.4% during the 1st quarter. Wellington Management Group LLP now owns 5,485,754 shares of the company’s stock valued at $204,948,000 after purchasing an additional 968,391 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Apogee Therapeutics by 8.4% during the 2nd quarter. Alliancebernstein L.P. now owns 1,388,149 shares of the company’s stock valued at $60,287,000 after purchasing an additional 107,199 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Apogee Therapeutics by 77.5% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,290,464 shares of the company’s stock valued at $56,045,000 after purchasing an additional 563,464 shares during the last quarter. Finally, Perceptive Advisors LLC lifted its holdings in shares of Apogee Therapeutics by 5.3% during the 2nd quarter. Perceptive Advisors LLC now owns 1,182,148 shares of the company’s stock valued at $51,341,000 after purchasing an additional 59,381 shares during the last quarter. Hedge funds and other 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.