Apogee Therapeutics (NASDAQ:APGE) Posts Quarterly Earnings Results, Misses Estimates By $0.25 EPS

Apogee Therapeutics (NASDAQ:APGE) issued its quarterly earnings data on Monday. The company reported ($1.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.94) by ($0.25), Zacks reports.

Apogee Therapeutics Price Performance

NASDAQ APGE opened at $31.39 on Tuesday. The firm’s fifty day moving average price is $40.01 and its 200 day moving average price is $47.32. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of -12.97 and a beta of 2.18. Apogee Therapeutics has a 12 month low of $29.64 and a 12 month high of $72.29.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Wedbush reaffirmed an “outperform” rating and issued a $90.00 price objective on shares of Apogee Therapeutics in a research report on Monday. Guggenheim reiterated a “buy” rating on shares of Apogee Therapeutics in a report on Monday, February 10th. Canaccord Genuity Group initiated coverage on shares of Apogee Therapeutics in a research report on Monday, November 25th. They set a “buy” rating and a $89.00 target price for the company. Finally, Canaccord Genuity Group began coverage on Apogee Therapeutics in a research report on Monday, November 25th. They set a “buy” rating and a $89.00 price target on the stock. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, Apogee Therapeutics presently has a consensus rating of “Buy” and an average target price of $89.71.

Insider Activity

In related news, insider Carl Dambkowski sold 3,520 shares of Apogee Therapeutics stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $40.69, for a total value of $143,228.80. Following the transaction, the insider now directly owns 252,623 shares in the company, valued at $10,279,229.87. This trade represents a 1.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mark C. Mckenna acquired 20,000 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was 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 directly owns 20,000 shares in the company, valued at $990,800. This trade represents a ∞ increase in their position. 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 company insiders.

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.