Apogee Therapeutics (NASDAQ:APGE) Receives Buy Rating from Guggenheim

Guggenheim reaffirmed their buy rating on shares of Apogee Therapeutics (NASDAQ:APGE) in a report issued on Monday morning,Benzinga reports.

Other research analysts also recently issued research reports about the stock. Wedbush boosted their target price on shares of Apogee Therapeutics from $87.00 to $90.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Canaccord Genuity Group started coverage on shares of Apogee Therapeutics in a research note on Monday, November 25th. They issued a “buy” rating and a $89.00 target price for the company. Finally, Canaccord Genuity Group started coverage on shares of Apogee Therapeutics in a research note on Monday, November 25th. They set a “buy” rating and a $89.00 price objective for the company. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, Apogee Therapeutics presently has an average rating of “Buy” and a consensus price target of $89.71.

Apogee Therapeutics Stock Up 2.9 %

NASDAQ:APGE opened at $35.50 on Monday. The company has a market capitalization of $1.60 billion, a PE ratio of -14.67 and a beta of 2.18. Apogee Therapeutics has a 52-week low of $33.14 and a 52-week high of $72.29. The stock has a fifty day simple moving average of $43.55 and a 200-day simple moving average of $48.25.

Apogee Therapeutics (NASDAQ:APGE) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.73) by ($0.13). As a group, equities analysts anticipate that Apogee Therapeutics will post -3.09 earnings per share for the current year.

Insider Activity at Apogee Therapeutics

In related news, insider Carl Dambkowski sold 3,520 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was 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 of the company’s stock, valued at approximately $10,279,229.87. This trade represents a 1.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark C. Mckenna purchased 20,000 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was acquired at an average cost of $49.54 per share, for a total transaction of $990,800.00. Following the completion of the transaction, 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. Insiders sold 63,810 shares of company stock worth $2,903,556 in the last quarter. 36.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Apogee Therapeutics

Institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Apogee Therapeutics during the third quarter worth $71,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Apogee Therapeutics by 21.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,628 shares of the company’s stock valued at $94,000 after purchasing an additional 285 shares during the last quarter. Aigen Investment Management LP bought a new stake in Apogee Therapeutics in the fourth quarter valued at about $216,000. Commonwealth Equity Services LLC bought a new stake in Apogee Therapeutics in the fourth quarter valued at about $222,000. Finally, KLP Kapitalforvaltning AS bought a new stake in Apogee Therapeutics in the fourth quarter valued at about $226,000. Institutional investors own 79.04% of the company’s stock.

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.