Apogee Therapeutics’ (APGE) “Buy” Rating Reiterated at BTIG Research

BTIG Research reaffirmed their buy rating on shares of Apogee Therapeutics (NASDAQ:APGE) in a research note released on Thursday morning,Benzinga reports. BTIG Research currently has a $115.00 target price on the stock.

Several other research firms have also recently issued reports on APGE. Wedbush restated an “outperform” rating and set a $90.00 price objective on shares of Apogee Therapeutics in a research report on Monday, August 11th. Guggenheim restated a “buy” rating and set a $116.00 price objective on shares of Apogee Therapeutics in a research report on Wednesday, July 2nd. Bank of America raised their price objective on shares of Apogee Therapeutics from $78.00 to $87.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Citigroup restated a “buy” rating on shares of Apogee Therapeutics in a research report on Thursday, August 28th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Apogee Therapeutics in a research report on Wednesday. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Apogee Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $92.63.

Apogee Therapeutics Trading Down 1.4%

Apogee Therapeutics stock opened at $52.47 on Thursday. Apogee Therapeutics has a 12-month low of $26.20 and a 12-month high of $63.50. The stock has a market cap of $2.42 billion, a P/E ratio of -12.70 and a beta of 1.43. The company has a 50-day moving average price of $38.41 and a 200 day moving average price of $38.39.

Apogee Therapeutics (NASDAQ:APGE) last released 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). As a group, analysts forecast that Apogee Therapeutics will post -3.09 EPS for the current year.

Insider Buying and Selling at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 5,110 shares of Apogee Therapeutics stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $39.80, for a total transaction of $203,378.00. Following the completion of the sale, the insider directly owned 284,733 shares in the company, valued at $11,332,373.40. This trade represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 10,560 shares of company stock worth $409,524 in the last ninety days. 42.77% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rhumbline Advisers boosted its stake in shares of Apogee Therapeutics by 3.2% in the first quarter. Rhumbline Advisers now owns 54,385 shares of the company’s stock valued at $2,032,000 after purchasing an additional 1,665 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Apogee Therapeutics by 93.3% in the first quarter. Bank of New York Mellon Corp now owns 214,231 shares of the company’s stock valued at $8,004,000 after purchasing an additional 103,404 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Apogee Therapeutics by 4.4% in the first quarter. Victory Capital Management Inc. now owns 232,983 shares of the company’s stock valued at $8,704,000 after purchasing an additional 9,921 shares during the period. GAMMA Investing LLC boosted its stake in shares of Apogee Therapeutics by 3,560.1% in the first quarter. GAMMA Investing LLC now owns 5,417 shares of the company’s stock valued at $202,000 after purchasing an additional 5,269 shares during the period. Finally, Woodline Partners LP boosted its stake in shares of Apogee Therapeutics by 4.5% in the first quarter. Woodline Partners LP now owns 1,061,053 shares of the company’s stock valued at $39,641,000 after purchasing an additional 45,445 shares during the period. Hedge funds and other institutional investors own 79.04% of the company’s stock.

About Apogee Therapeutics

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.