Apogee Therapeutics (NASDAQ:APGE) Now Covered by Analysts at Citigroup

Citigroup began coverage on shares of Apogee Therapeutics (NASDAQ:APGE) in a report issued on Thursday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $95.00 price target on the stock.

APGE has been the topic of several other research reports. Canaccord Genuity Group assumed coverage on Apogee Therapeutics in a report on Monday, November 25th. They set a “buy” rating and a $89.00 target price on the stock. Guggenheim reissued a “buy” rating on shares of Apogee Therapeutics in a report on Monday, February 10th. Wedbush reissued an “outperform” rating and set a $90.00 target price on shares of Apogee Therapeutics in a report on Tuesday, March 11th. Finally, Canaccord Genuity Group assumed coverage on Apogee Therapeutics in a report on Monday, November 25th. They set a “buy” rating and a $89.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $92.17.

Apogee Therapeutics Trading Up 4.2 %

APGE opened at $39.94 on Thursday. The business’s 50 day moving average is $38.21 and its 200-day moving average is $46.60. The stock has a market cap of $1.80 billion, a PE ratio of -16.50 and a beta of 2.46. Apogee Therapeutics has a twelve month low of $29.10 and a twelve month high of $71.75.

Apogee Therapeutics (NASDAQ:APGE) last released its quarterly earnings results on Monday, March 3rd. The company reported ($1.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.94) by ($0.25). As a group, analysts forecast that Apogee Therapeutics will post -3.09 EPS for the current year.

Insiders Place Their Bets

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 value of $732,750.00. Following the transaction, the chief executive officer now owns 1,309,487 shares in the company, valued at approximately $63,968,439.95. The trade was a 1.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Carl Dambkowski sold 1,590 shares of Apogee Therapeutics stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $30.48, for a total transaction of $48,463.20. Following the completion of the transaction, the insider now owns 251,033 shares in the company, valued at approximately $7,651,485.84. This trade represents a 0.63 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,195 shares of company stock worth $2,026,392. 36.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Apogee Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in APGE. Victory Capital Management Inc. grew its position in Apogee Therapeutics by 121.6% during the 3rd quarter. Victory Capital Management Inc. now owns 346,358 shares of the company’s stock worth $20,345,000 after purchasing an additional 190,092 shares in the last quarter. Natixis Advisors LLC purchased a new position in Apogee Therapeutics during the 3rd quarter worth approximately $879,000. Jennison Associates LLC grew its position in Apogee Therapeutics by 2.1% during the 3rd quarter. Jennison Associates LLC now owns 312,611 shares of the company’s stock worth $18,363,000 after purchasing an additional 6,533 shares in the last quarter. Intech Investment Management LLC purchased a new position in Apogee Therapeutics during the 3rd quarter worth approximately $300,000. Finally, Charles Schwab Investment Management Inc. grew its position in Apogee Therapeutics by 17.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 280,428 shares of the company’s stock worth $16,472,000 after purchasing an additional 41,686 shares in the last quarter. 79.04% of the stock is currently owned by hedge funds and other institutional investors.

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.