Canaccord Genuity Group Initiates Coverage on Apogee Therapeutics (NASDAQ:APGE)

Equities research analysts at Canaccord Genuity Group initiated coverage on shares of Apogee Therapeutics (NASDAQ:APGE) in a research note issued on Monday, Marketbeat.com reports. The firm set a “buy” rating and a $89.00 price target on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 104.79% from the stock’s previous close.

Separately, Wedbush reiterated an “outperform” rating and set a $87.00 price objective on shares of Apogee Therapeutics in a research note on Tuesday, November 12th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $81.13.

Apogee Therapeutics Price Performance

Apogee Therapeutics stock opened at $43.46 on Monday. Apogee Therapeutics has a 12 month low of $16.39 and a 12 month high of $72.29. The company has a fifty day moving average price of $54.29 and a two-hundred day moving average price of $48.70. The company has a market cap of $1.96 billion, a PE ratio of -17.96 and a beta of 2.93.

Insider Buying and Selling at Apogee Therapeutics

In other news, insider Carl Dambkowski sold 6,665 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $59.12, for a total value of $394,034.80. Following the completion of the sale, the insider now directly owns 267,463 shares of the company’s stock, valued at approximately $15,812,412.56. This represents a 2.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael Thomas Henderson sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $59.22, for a total transaction of $888,300.00. Following the completion of the sale, the chief executive officer now owns 1,339,487 shares in the company, valued at $79,324,420.14. The trade was a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 114,995 shares of company stock valued at $6,128,295 in the last ninety days. Company insiders own 36.10% of the company’s stock.

Institutional Investors Weigh In On Apogee Therapeutics

Large investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Apogee Therapeutics during the third quarter valued at approximately $71,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Apogee Therapeutics by 21.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,628 shares of the company’s stock valued at $94,000 after acquiring an additional 285 shares during the period. Kennedy Capital Management LLC acquired a new stake in shares of Apogee Therapeutics during the first quarter valued at approximately $212,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Apogee Therapeutics during the second quarter valued at approximately $143,000. Finally, Wexford Capital LP acquired a new stake in shares of Apogee Therapeutics during the third quarter valued at approximately $230,000. 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.