Apogee Therapeutics, Inc. (NASDAQ:APGE) Given Consensus Rating of “Buy” by Analysts

Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) have been assigned a consensus rating of “Buy” from the seven research firms that are presently covering the firm, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $89.71.

Several research firms have recently weighed in on APGE. Guggenheim reaffirmed 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 company an “outperform” rating in a research report on Monday, December 2nd. Canaccord Genuity Group began coverage on shares of Apogee Therapeutics in a research note on Monday, November 25th. They set a “buy” rating and a $89.00 price objective for the company. Finally, Canaccord Genuity Group started coverage on shares of Apogee Therapeutics in a research note on Monday, November 25th. They issued a “buy” rating and a $89.00 target price on the stock.

Apogee Therapeutics Trading Down 3.8 %

Shares of Apogee Therapeutics stock opened at $39.34 on Wednesday. The business’s fifty day moving average price is $48.12 and its 200 day moving average price is $49.08. Apogee Therapeutics has a twelve month low of $30.84 and a twelve month high of $72.29. The stock has a market capitalization of $1.77 billion, a P/E ratio of -16.26 and a beta of 2.26.

Insider Activity

In other news, Director Mark C. Mckenna purchased 20,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average cost of $49.54 per share, with a total value of $990,800.00. Following the acquisition, the director now owns 20,000 shares in the company, valued at approximately $990,800. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Thomas Henderson sold 15,000 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 1,339,487 shares in the company, valued at $79,324,420.14. This represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,955 shares of company stock worth $3,433,962 over the last 90 days. Company insiders own 36.10% of the company’s stock.

Institutional Investors Weigh In On Apogee Therapeutics

A number of hedge funds have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Apogee Therapeutics in the 3rd quarter valued at approximately $71,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Apogee Therapeutics by 21.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,628 shares of the company’s stock worth $94,000 after buying an additional 285 shares during the last quarter. Wexford Capital LP acquired a new stake in Apogee Therapeutics in the third quarter valued at $230,000. Arizona State Retirement System boosted its stake in Apogee Therapeutics by 4.5% during the 2nd quarter. Arizona State Retirement System now owns 5,993 shares of the company’s stock valued at $236,000 after acquiring an additional 258 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Apogee Therapeutics by 26.3% during the 2nd quarter. Principal Financial Group Inc. now owns 6,442 shares of the company’s stock worth $253,000 after acquiring an additional 1,340 shares in the last quarter. Institutional investors and hedge funds own 79.04% of the company’s stock.

About Apogee Therapeutics

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.