Apogee Therapeutics (NASDAQ:APGE) Stock Price Up 5.2% on Analyst Upgrade

Apogee Therapeutics, Inc. (NASDAQ:APGE)’s stock price traded up 5.2% during trading on Monday after Wedbush raised their price target on the stock from $87.00 to $90.00. Wedbush currently has an outperform rating on the stock. Apogee Therapeutics traded as high as $48.14 and last traded at $47.50. 264,822 shares were traded during trading, a decline of 46% from the average session volume of 492,256 shares. The stock had previously closed at $45.15.

A number of other analysts have also recently commented on the company. 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 objective for the company. Guggenheim lifted their price target on shares of Apogee Therapeutics from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Finally, Canaccord Genuity Group began 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 on the stock. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $83.88.

Insider Activity at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 6,665 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $47.56, for a total transaction of $316,987.40. Following the completion of the transaction, the insider now directly owns 280,793 shares of the company’s stock, valued at $13,354,515.08. This trade represents a 2.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Thomas Henderson sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $56.23, for a total value of $2,249,200.00. Following the transaction, the chief executive officer now directly owns 1,354,487 shares of the company’s stock, valued at $76,162,804.01. This trade represents a 2.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 114,995 shares of company stock worth $6,128,295. 36.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Apogee Therapeutics

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Apogee Therapeutics by 60.7% during the first quarter. Vanguard Group Inc. now owns 1,868,666 shares of the company’s stock valued at $124,173,000 after acquiring an additional 705,795 shares during the period. California State Teachers Retirement System raised its position in Apogee Therapeutics by 25.6% in the first quarter. California State Teachers Retirement System now owns 23,002 shares of the company’s stock worth $1,528,000 after acquiring an additional 4,693 shares in the last quarter. Comerica Bank raised its holdings in shares of Apogee Therapeutics by 6,103.8% in the 1st quarter. Comerica Bank now owns 6,576 shares of the company’s stock worth $437,000 after purchasing an additional 6,470 shares in the last quarter. Virtu Financial LLC bought a new stake in Apogee Therapeutics during the first quarter worth approximately $362,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in Apogee Therapeutics in the second quarter worth approximately $143,000. Institutional investors own 79.04% of the company’s stock.

Apogee Therapeutics Stock Up 5.2 %

The stock has a market cap of $2.14 billion, a price-to-earnings ratio of -19.14 and a beta of 2.93. The company’s 50-day simple moving average is $53.40 and its 200-day simple moving average is $48.39.

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.