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

Apogee Therapeutics, Inc. (NASDAQ:APGE) has received a consensus rating of “Buy” from the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $73.00.

Several analysts have recently weighed in on the stock. Bank of America assumed coverage on shares of Apogee Therapeutics in a research report on Friday, May 10th. They set a “buy” rating and a $80.00 price objective on the stock. Wedbush restated an “outperform” rating and set a $87.00 price objective on shares of Apogee Therapeutics in a research report on Monday, May 13th.

Apogee Therapeutics Stock Performance

Apogee Therapeutics stock opened at $47.81 on Thursday. The firm’s fifty day moving average price is $43.87 and its 200-day moving average price is $46.33. The stock has a market cap of $2.79 billion and a P/E ratio of -9.11. Apogee Therapeutics has a fifty-two week low of $14.19 and a fifty-two week high of $72.29.

Apogee Therapeutics (NASDAQ:APGE) last posted its quarterly earnings data on Monday, May 13th. The company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.04). On average, analysts predict that Apogee Therapeutics will post -2.64 earnings per share for the current year.

Insider Buying and Selling

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 15,000 shares of the firm’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $37.26, for a total value of $558,900.00. Following the sale, the chief executive officer now owns 1,474,487 shares of the company’s stock, valued at approximately $54,939,385.62. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Apogee Therapeutics news, insider Carl Dambkowski sold 5,995 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $37.60, for a total value of $225,412.00. Following the sale, the insider now owns 294,793 shares of the company’s stock, valued at approximately $11,084,216.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael Thomas Henderson sold 15,000 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $37.26, for a total transaction of $558,900.00. Following the completion of the sale, the chief executive officer now directly owns 1,474,487 shares in the company, valued at approximately $54,939,385.62. The disclosure for this sale can be found here. 36.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Apogee Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Apogee Therapeutics by 60.7% in the 1st quarter. Vanguard Group Inc. now owns 1,868,666 shares of the company’s stock worth $124,173,000 after acquiring an additional 705,795 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Apogee Therapeutics by 0.3% during the 4th quarter. Wellington Management Group LLP now owns 1,591,478 shares of the company’s stock valued at $44,358,000 after purchasing an additional 4,749 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Apogee Therapeutics by 51.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,170,327 shares of the company’s stock valued at $77,770,000 after purchasing an additional 399,646 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Apogee Therapeutics by 9.3% during the 4th quarter. Franklin Resources Inc. now owns 1,089,780 shares of the company’s stock valued at $30,448,000 after purchasing an additional 92,423 shares in the last quarter. Finally, Darwin Global Management Ltd. bought a new stake in shares of Apogee Therapeutics during the 1st quarter valued at about $55,300,000. Institutional investors 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.