Apogee Therapeutics Inc. (NASDAQ:APGE) Receives $96.50 Average Target Price from Analysts

Shares of Apogee Therapeutics Inc. (NASDAQ:APGE) have earned a consensus recommendation of “Moderate Buy” from the twelve research firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $96.50.

A number of research firms have weighed in on APGE. Zacks Research cut shares of Apogee Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 14th. BTIG Research restated a “buy” rating and issued a $115.00 price objective on shares of Apogee Therapeutics in a research report on Thursday, October 9th. Royal Bank Of Canada boosted their price target on shares of Apogee Therapeutics from $60.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday, November 3rd. Bank of America lifted their price objective on Apogee Therapeutics from $78.00 to $87.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Finally, Citigroup reissued a “buy” rating on shares of Apogee Therapeutics in a report on Thursday, August 28th.

Insider Buying and Selling at Apogee Therapeutics

In other news, CEO Michael Thomas Henderson sold 20,000 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $63.01, for a total transaction of $1,260,200.00. Following the completion of the sale, the chief executive officer owned 1,272,987 shares of the company’s stock, valued at $80,210,910.87. This represents a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Carl Dambkowski sold 10,785 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $55.07, for a total value of $593,929.95. Following the completion of the sale, the insider owned 282,008 shares of the company’s stock, valued at $15,530,180.56. This trade represents a 3.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 38,620 shares of company stock worth $2,160,704. 42.77% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Apogee Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. SummitTX Capital L.P. acquired a new position in Apogee Therapeutics in the third quarter valued at approximately $1,057,000. Two Sigma Investments LP increased its position in shares of Apogee Therapeutics by 5.8% during the 3rd quarter. Two Sigma Investments LP now owns 122,375 shares of the company’s stock worth $4,862,000 after purchasing an additional 6,681 shares during the last quarter. Wellington Management Group LLP raised its holdings in Apogee Therapeutics by 24.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,723,701 shares of the company’s stock valued at $187,673,000 after buying an additional 917,991 shares during the period. Comerica Bank lifted its position in Apogee Therapeutics by 20.6% in the third quarter. Comerica Bank now owns 35,534 shares of the company’s stock valued at $1,412,000 after buying an additional 6,065 shares during the last quarter. Finally, Platinum Investment Management Ltd. boosted its stake in Apogee Therapeutics by 8.3% during the third quarter. Platinum Investment Management Ltd. now owns 93,728 shares of the company’s stock worth $3,724,000 after buying an additional 7,216 shares during the period. 79.04% of the stock is currently owned by institutional investors and hedge funds.

Apogee Therapeutics Trading Up 4.0%

Shares of NASDAQ APGE opened at $65.50 on Thursday. The company has a 50 day simple moving average of $48.12 and a two-hundred day simple moving average of $42.29. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of -14.95 and a beta of 1.50. Apogee Therapeutics has a 12 month low of $26.20 and a 12 month high of $67.57.

Apogee Therapeutics (NASDAQ:APGE) last posted its earnings results on Monday, November 10th. The company reported ($1.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.14) by $0.03. Analysts forecast that Apogee Therapeutics will post -3.09 EPS for the current 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.