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

Apogee Therapeutics, Inc. (NASDAQ:APGE) has been assigned an average recommendation of “Buy” from the six analysts that are presently covering the company, Marketbeat reports. Six analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $92.17.

A number of brokerages have recently weighed in on APGE. Guggenheim restated a “buy” rating on shares of Apogee Therapeutics in a research note on Monday, February 10th. Citigroup began coverage on Apogee Therapeutics in a research note on Thursday, March 13th. They issued a “buy” rating and a $95.00 price objective for the company. Finally, Wedbush reiterated an “outperform” rating and set a $90.00 target price on shares of Apogee Therapeutics in a research note on Tuesday, March 11th.

Apogee Therapeutics Trading Up 1.4 %

Shares of NASDAQ:APGE opened at $37.05 on Friday. Apogee Therapeutics has a 1-year low of $26.20 and a 1-year high of $63.50. The stock has a market cap of $1.67 billion, a PE ratio of -15.31 and a beta of 1.72. The stock’s fifty day simple moving average is $35.11 and its two-hundred day simple moving average is $42.94.

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). On average, sell-side analysts forecast that Apogee Therapeutics will post -3.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Apogee Therapeutics

In other news, insider Carl Dambkowski sold 3,520 shares of Apogee Therapeutics stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $40.69, for a total value of $143,228.80. Following the completion of the transaction, the insider now owns 252,623 shares in the company, valued at $10,279,229.87. This trade represents a 1.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Thomas Henderson sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $30.15, for a total transaction of $301,500.00. Following the sale, the chief executive officer now owns 1,292,987 shares in the company, valued at $38,983,558.05. The trade was a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,970 shares of company stock worth $1,241,701 over the last ninety days. 36.10% of the stock is currently owned by company insiders.

Institutional Trading of Apogee Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC grew its holdings in Apogee Therapeutics by 369.2% during the 3rd quarter. Barclays PLC now owns 365,046 shares of the company’s stock valued at $21,443,000 after buying an additional 287,243 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Apogee Therapeutics by 11.2% in the third quarter. Geode Capital Management LLC now owns 823,839 shares of the company’s stock valued at $48,401,000 after acquiring an additional 82,978 shares during the period. JPMorgan Chase & Co. grew its stake in Apogee Therapeutics by 4.3% during the third quarter. JPMorgan Chase & Co. now owns 29,555 shares of the company’s stock valued at $1,736,000 after acquiring an additional 1,212 shares in the last quarter. SG Americas Securities LLC increased its holdings in Apogee Therapeutics by 22.2% during the 4th quarter. SG Americas Securities LLC now owns 9,890 shares of the company’s stock worth $448,000 after acquiring an additional 1,796 shares during the period. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in Apogee Therapeutics by 10.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,547 shares of the company’s stock valued at $432,000 after purchasing an additional 892 shares during the period. 79.04% of the stock is currently owned by institutional investors.

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.