Apogee Therapeutics, Inc. (NASDAQ:APGE) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) have been given an average rating of “Buy” by the seven analysts that are presently covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a buy rating. The average 12 month target price among brokers that have issued a report on the stock in the last year is $89.71.

A number of analysts have recently issued reports on APGE shares. Guggenheim reiterated a “buy” rating on shares of Apogee Therapeutics in a research note on Thursday, December 12th. Wedbush lifted their price target on shares of Apogee Therapeutics from $87.00 to $90.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Canaccord Genuity Group began coverage on shares of Apogee Therapeutics in a research report on Monday, November 25th. They issued a “buy” rating and a $89.00 price objective for the company. Finally, Canaccord Genuity Group started coverage on Apogee Therapeutics in a research report on Monday, November 25th. They set a “buy” rating and a $89.00 target price on the stock.

Apogee Therapeutics Stock Performance

Apogee Therapeutics stock opened at $47.71 on Friday. The firm has a market capitalization of $2.15 billion, a PE ratio of -19.71 and a beta of 2.30. Apogee Therapeutics has a one year low of $24.88 and a one year high of $72.29. The stock’s 50 day moving average price is $50.78 and its 200 day moving average price is $48.29.

Insider Activity

In related news, insider Carl Dambkowski sold 6,665 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $56.26, for a total value of $374,972.90. Following the completion of the sale, the insider now directly owns 274,128 shares of the company’s stock, valued at $15,422,441.28. The trade was a 2.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Thomas Henderson sold 15,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $59.22, for a total value of $888,300.00. Following the transaction, the chief executive officer now directly owns 1,339,487 shares in the company, valued at approximately $79,324,420.14. This represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 94,535 shares of company stock worth $5,133,635. 36.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Apogee Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Point72 DIFC Ltd bought a new position in shares of Apogee Therapeutics in the 2nd quarter worth about $660,000. Point72 Asset Management L.P. raised its stake in Apogee Therapeutics by 162.7% during the third quarter. Point72 Asset Management L.P. now owns 707,268 shares of the company’s stock worth $41,545,000 after acquiring an additional 438,036 shares during the period. XTX Topco Ltd bought a new position in Apogee Therapeutics in the second quarter worth about $706,000. Victory Capital Management Inc. boosted its stake in Apogee Therapeutics by 56.8% in the second quarter. Victory Capital Management Inc. now owns 156,266 shares of the company’s stock valued at $6,149,000 after acquiring an additional 56,607 shares during the period. Finally, Waypoint Capital Advisors LLC bought a new position in shares of Apogee Therapeutics during the third quarter valued at approximately $36,835,000. Institutional investors and hedge funds 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.