Apogee Therapeutics (NASDAQ:APGE) Sees Unusually-High Trading Volume Following Analyst Upgrade

Apogee Therapeutics Inc. (NASDAQ:APGE) saw strong trading volume on Wednesday after Citigroup raised their price target on the stock from $95.00 to $125.00. Citigroup currently has a buy rating on the stock. 1,244,069 shares traded hands during trading, an increase of 19% from the previous session’s volume of 1,047,666 shares.The stock last traded at $83.04 and had previously closed at $73.00.

A number of other brokerages also recently commented on APGE. Truist Financial initiated coverage on shares of Apogee Therapeutics in a report on Tuesday, March 17th. They issued a “hold” rating and a $83.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Apogee Therapeutics in a report on Wednesday, January 21st. Royal Bank Of Canada reduced their price objective on shares of Apogee Therapeutics from $83.00 to $82.00 and set a “sector perform” rating for the company in a research note on Monday, March 2nd. UBS Group raised shares of Apogee Therapeutics to a “strong-buy” rating in a research report on Wednesday, January 7th. Finally, Craig Hallum restated a “buy” rating and issued a $116.00 target price on shares of Apogee Therapeutics in a research note on Wednesday, January 7th. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $110.43.

Insider Buying and Selling

In related news, CEO Michael Thomas Henderson sold 20,000 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $74.78, for a total value of $1,495,600.00. Following the completion of the transaction, the chief executive officer owned 1,152,987 shares in the company, valued at $86,220,367.86. This trade represents a 1.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Carl Dambkowski sold 18,700 shares of Apogee Therapeutics stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $77.84, for a total value of $1,455,608.00. Following the sale, the insider directly owned 212,523 shares of the company’s stock, valued at approximately $16,542,790.32. This represents a 8.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,839,700 shares of company stock worth $140,118,083 in the last 90 days. Insiders own 42.77% of the company’s stock.

More Apogee Therapeutics News

Here are the key news stories impacting Apogee Therapeutics this week:

• Positive Sentiment: Positive 52‑week Phase II Part A results for zumilokibart showing sustained, durable responses and attractive infrequent dosing — data cited as boosting the drug’s commercial promise and near‑term clinical catalysts (Part B 16‑week induction data in Q2; potential Phase 3 in H2 2026). Zacks: APGE Stock Up as Skin Disease Drug Shows Sustained 52-Week Efficacy
• Positive Sentiment: Investor enthusiasm reinforced by buy‑side commentary and bullish coverage calling APGE a “Strong Buy” ahead of upcoming readouts and potential Phase 3 start. Seeking Alpha highlights the program’s extended‑half‑life profile and upcoming catalysts. Seeking Alpha: Strong Buy
• Positive Sentiment: Several firms raised price targets and maintained buy ratings (Citigroup, Canaccord, Guggenheim), increasing upside estimates and supporting near‑term investor optimism. Benzinga: Analyst Coverage TickerReport: Guggenheim Raise
• Neutral Sentiment: Reported short‑interest data appears anomalous (entries showing 0 shares and NaN changes across multiple reports), so there’s no clear short‑pressure signal to explain price moves; treat the short‑interest items as unreliable until clarified.
• Negative Sentiment: Apogee priced an underwritten public offering of 5,000,000 shares at $70.00 (aggregate gross proceeds ~$350M) with a 30‑day option for up to 750,000 additional shares — this raises cash and extends runway but is dilutive and was priced below the current market, which can cap near‑term upside. Closing expected March 26, subject to conditions. GlobeNewswire: Offering Announcement MSN: Offering Coverage

Hedge Funds Weigh In On Apogee Therapeutics

Institutional investors have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. lifted its stake in Apogee Therapeutics by 189,522.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,732,456 shares of the company’s stock valued at $206,246,000 after acquiring an additional 2,731,015 shares during the period. Janus Henderson Group PLC increased its stake in shares of Apogee Therapeutics by 324.4% in the fourth quarter. Janus Henderson Group PLC now owns 2,062,604 shares of the company’s stock worth $155,697,000 after acquiring an additional 1,576,626 shares during the period. Perceptive Advisors LLC raised its holdings in shares of Apogee Therapeutics by 72.4% during the fourth quarter. Perceptive Advisors LLC now owns 2,330,651 shares of the company’s stock worth $175,918,000 after purchasing an additional 978,662 shares during the last quarter. Wellington Management Group LLP lifted its position in Apogee Therapeutics by 24.1% during the third quarter. Wellington Management Group LLP now owns 4,723,701 shares of the company’s stock valued at $187,673,000 after purchasing an additional 917,991 shares during the period. Finally, UBS Group AG lifted its position in Apogee Therapeutics by 646.1% during the third quarter. UBS Group AG now owns 799,465 shares of the company’s stock valued at $31,763,000 after purchasing an additional 692,308 shares during the period. 79.04% of the stock is owned by hedge funds and other institutional investors.

Apogee Therapeutics Price Performance

The firm’s fifty day simple moving average is $71.09 and its 200 day simple moving average is $64.05. The company has a market capitalization of $5.46 billion, a PE ratio of -18.61 and a beta of 1.39.

Apogee Therapeutics (NASDAQ:APGE) last released its quarterly earnings data on Monday, March 2nd. The company reported ($1.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.05) by $0.02. On average, equities research analysts anticipate that Apogee Therapeutics Inc. will post -3.09 EPS for the current fiscal year.

About Apogee Therapeutics

Apogee Therapeutics, Inc is a clinical-stage biotechnology company dedicated to the discovery and development of novel small molecule therapeutics that selectively target the nuclear receptor RORγt, a master regulator of T cell-driven inflammatory pathways. By modulating RORγt activity, Apogee aims to offer an oral treatment option for patients with autoimmune and inflammatory skin disorders.

The company’s lead candidate, APG-157, is an oral RORγt inverse agonist currently undergoing early-stage clinical evaluation for moderate to severe plaque psoriasis.