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

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

APGE has been the topic of a number of research analyst reports. Guggenheim reaffirmed a “buy” rating on shares of Apogee Therapeutics in a report on Monday, February 10th. Canaccord Genuity Group began coverage on shares of Apogee Therapeutics in a research note on Monday, November 25th. They issued a “buy” rating and a $89.00 price objective on the stock. Wedbush boosted their target price on shares of Apogee Therapeutics from $87.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Finally, Canaccord Genuity Group started coverage on shares of Apogee Therapeutics in a report on Monday, November 25th. They set a “buy” rating and a $89.00 target price for the company.

Apogee Therapeutics Stock Performance

Shares of APGE stock opened at $31.08 on Thursday. Apogee Therapeutics has a 1 year low of $30.64 and a 1 year high of $72.29. The business’s fifty day moving average is $40.99 and its 200-day moving average is $47.58. The stock has a market cap of $1.40 billion, a PE ratio of -12.84 and a beta of 2.18.

Insider Buying and Selling at Apogee Therapeutics

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 15,000 shares of Apogee Therapeutics stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $48.85, for a total transaction of $732,750.00. Following the transaction, the chief executive officer now directly owns 1,309,487 shares in the company, valued at approximately $63,968,439.95. The trade was a 1.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mark C. Mckenna bought 20,000 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were purchased at an average cost of $49.54 per share, for a total transaction of $990,800.00. Following the completion of the purchase, 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 disclosure for this purchase can be found here. Over the last ninety days, insiders sold 63,810 shares of company stock valued at $2,903,556. 36.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. GF Fund Management CO. LTD. purchased a new stake in Apogee Therapeutics in the 4th quarter worth about $43,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Apogee Therapeutics in the third quarter worth approximately $71,000. Mirae Asset Global Investments Co. Ltd. boosted 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 worth $94,000 after purchasing an additional 285 shares during the period. Optimize Financial Inc acquired a new stake in shares of Apogee Therapeutics during the fourth quarter worth approximately $203,000. Finally, Aigen Investment Management LP purchased a new position in Apogee Therapeutics during the fourth quarter valued at approximately $216,000. Hedge funds and other 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.