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

Apogee Therapeutics, Inc. (NASDAQ:APGE) has been given a consensus rating of “Buy” by the six analysts that are currently covering the stock, MarketBeat reports. Six research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have covered the stock in the last year is $92.17.

Several brokerages recently issued reports on APGE. Guggenheim reiterated a “buy” rating on shares of Apogee Therapeutics in a research report on Monday, February 10th. Wedbush reaffirmed an “outperform” rating and set a $90.00 price objective on shares of Apogee Therapeutics in a research note on Tuesday, March 11th. Finally, Citigroup assumed coverage on shares of Apogee Therapeutics in a report on Thursday, March 13th. They issued a “buy” rating and a $95.00 target price on the stock.

Insider Buying and Selling

In related news, CEO Michael Thomas Henderson sold 15,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $63,968,439.95. This trade represents a 1.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Carl Dambkowski sold 3,520 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $40.69, for a total transaction of $143,228.80. Following the completion of the sale, the insider now directly owns 252,623 shares of the company’s stock, valued at $10,279,229.87. This represents a 1.37 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,195 shares of company stock valued at $2,026,392. Insiders own 36.10% of the company’s stock.

Hedge Funds Weigh In On Apogee Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its position in shares of Apogee Therapeutics by 35.7% during the 3rd quarter. Wellington Management Group LLP now owns 4,814,400 shares of the company’s stock worth $282,798,000 after buying an additional 1,267,451 shares during the last quarter. Driehaus Capital Management LLC boosted its holdings in Apogee Therapeutics by 2.8% in the fourth quarter. Driehaus Capital Management LLC now owns 2,605,310 shares of the company’s stock valued at $118,021,000 after acquiring an additional 71,703 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of Apogee Therapeutics by 13.5% during the 4th quarter. Alliancebernstein L.P. now owns 1,355,185 shares of the company’s stock valued at $61,390,000 after purchasing an additional 160,822 shares in the last quarter. Paradigm Biocapital Advisors LP grew its position in shares of Apogee Therapeutics by 82.9% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 1,283,766 shares of the company’s stock worth $58,155,000 after buying an additional 581,949 shares during the period. Finally, Janus Henderson Group PLC increased its stake in Apogee Therapeutics by 141.7% in the fourth quarter. Janus Henderson Group PLC now owns 1,135,100 shares of the company’s stock valued at $51,455,000 after purchasing an additional 665,543 shares in the last quarter. Institutional investors own 79.04% of the company’s stock.

Apogee Therapeutics Trading Up 1.2 %

APGE opened at $39.72 on Monday. The business has a 50 day moving average of $37.57 and a 200-day moving average of $45.95. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of -16.41 and a beta of 2.46. Apogee Therapeutics has a 1-year low of $29.10 and a 1-year high of $68.21.

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

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.