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

Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) have received an average recommendation of “Buy” from the eight ratings firms that are presently covering the company, MarketBeat reports. Eight research analysts have rated the stock with a buy rating. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $83.88.

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

Insider Buying and Selling

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 15,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $46.58, for a total value of $698,700.00. Following the completion of the transaction, the chief executive officer now owns 1,324,487 shares in the company, valued at approximately $61,694,604.46. This represents a 1.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Carl Dambkowski sold 4,540 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $48.76, for a total value of $221,370.40. Following the sale, the insider now owns 258,073 shares in the company, valued at $12,583,639.48. This trade represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 94,535 shares of company stock valued at $5,133,635 over the last ninety days. Company insiders own 36.10% of the company’s stock.

Institutional Investors Weigh In On Apogee Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC purchased a new stake in Apogee Therapeutics during the 2nd quarter worth approximately $143,000. Principal Financial Group Inc. increased its position in shares of Apogee Therapeutics by 26.3% during the second quarter. Principal Financial Group Inc. now owns 6,442 shares of the company’s stock worth $253,000 after purchasing an additional 1,340 shares in the last quarter. Victory Capital Management Inc. raised its stake in Apogee Therapeutics by 56.8% in the 2nd quarter. Victory Capital Management Inc. now owns 156,266 shares of the company’s stock valued at $6,149,000 after purchasing an additional 56,607 shares during the last quarter. Arizona State Retirement System lifted its holdings in Apogee Therapeutics by 4.5% in the 2nd quarter. Arizona State Retirement System now owns 5,993 shares of the company’s stock valued at $236,000 after purchasing an additional 258 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in Apogee Therapeutics during the 2nd quarter worth $272,000. Institutional investors and hedge funds own 79.04% of the company’s stock.

Apogee Therapeutics Stock Up 0.4 %

Shares of Apogee Therapeutics stock opened at $44.50 on Friday. The company has a 50 day moving average price of $51.43 and a 200 day moving average price of $48.28. The firm has a market capitalization of $2.00 billion, a P/E ratio of -18.39 and a beta of 2.30. Apogee Therapeutics has a 52 week low of $20.78 and a 52 week high of $72.29.

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.