Analysts Set Apogee Therapeutics Inc. (NASDAQ:APGE) PT at $92.63

Shares of Apogee Therapeutics Inc. (NASDAQ:APGE) have received an average rating of “Moderate Buy” from the eleven ratings firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $94.00.

A number of research analysts have recently weighed in on the company. Zacks Research lowered Apogee Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Apogee Therapeutics in a report on Wednesday, October 8th. Mizuho assumed coverage on Apogee Therapeutics in a report on Tuesday. They issued an “outperform” rating and a $105.00 target price on the stock. Citigroup restated a “buy” rating on shares of Apogee Therapeutics in a report on Thursday, August 28th. Finally, BTIG Research reaffirmed a “buy” rating and set a $115.00 price target on shares of Apogee Therapeutics in a research report on Thursday, October 9th.

Insider Activity at Apogee Therapeutics

In related news, insider Carl Dambkowski sold 5,110 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was 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 of the company’s stock, valued at approximately $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 SEC, which can be accessed through this link. Insiders sold 10,560 shares of company stock worth $409,524 over the last three months. Company insiders own 42.77% of the company’s stock.

Institutional Trading of Apogee Therapeutics

A number of large investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC boosted its holdings in shares of Apogee Therapeutics by 99.2% in the second quarter. Nisa Investment Advisors LLC now owns 769 shares of the company’s stock worth $33,000 after acquiring an additional 383 shares during the period. Brooklyn Investment Group bought a new position in shares of Apogee Therapeutics in the first quarter worth $42,000. AlphaQuest LLC bought a new position in shares of Apogee Therapeutics in the first quarter worth $43,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Apogee Therapeutics by 18.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,779 shares of the company’s stock worth $77,000 after acquiring an additional 272 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Apogee Therapeutics by 34.7% in the second quarter. BNP Paribas Financial Markets now owns 3,649 shares of the company’s stock worth $158,000 after acquiring an additional 941 shares during the period. 79.04% of the stock is owned by hedge funds and other institutional investors.

Apogee Therapeutics Stock Down 1.9%

APGE stock opened at $55.87 on Friday. Apogee Therapeutics has a twelve month low of $26.20 and a twelve month high of $63.50. The stock’s 50 day moving average is $40.98 and its 200-day moving average is $39.27. The firm has a market capitalization of $2.58 billion, a PE ratio of -13.53 and a beta of 1.43.

Apogee Therapeutics (NASDAQ:APGE) last posted its earnings results on Monday, August 11th. The company reported ($1.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.10). On average, equities research analysts anticipate that Apogee Therapeutics will post -3.09 earnings per share for the current fiscal year.

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.