Apogee Therapeutics (NASDAQ:APGE) Coverage Initiated by Analysts at Mizuho

Mizuho started coverage on shares of Apogee Therapeutics (NASDAQ:APGE) in a report released on Tuesday, MarketBeat.com reports. The brokerage issued an outperform rating and a $105.00 price target on the stock.

APGE has been the topic of several other reports. Zacks Research downgraded Apogee Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 14th. BTIG Research restated a “buy” rating and set a $115.00 price objective on shares of Apogee Therapeutics in a research report on Thursday, October 9th. Wedbush restated an “outperform” rating and issued a $90.00 target price on shares of Apogee Therapeutics in a research note on Monday, August 11th. Guggenheim reiterated a “buy” rating and set a $116.00 price target on shares of Apogee Therapeutics in a research note on Wednesday, July 2nd. Finally, Bank of America increased their price target on shares of Apogee Therapeutics from $78.00 to $87.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $94.00.

Apogee Therapeutics Stock Performance

Shares of NASDAQ:APGE opened at $55.87 on Tuesday. Apogee Therapeutics has a one year low of $26.20 and a one year high of $63.50. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of -13.53 and a beta of 1.43. The company has a 50-day simple moving average of $40.98 and a 200-day simple moving average of $39.27.

Apogee Therapeutics (NASDAQ:APGE) last released its quarterly earnings results on Monday, August 11th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.10). As a group, research analysts forecast that Apogee Therapeutics will post -3.09 EPS for the current fiscal year.

Insider Activity at Apogee Therapeutics

In related news, insider Carl Dambkowski sold 5,110 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $39.80, for a total transaction of $203,378.00. Following the sale, the insider owned 284,733 shares of the company’s stock, valued at approximately $11,332,373.40. The trade was a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 10,560 shares of company stock valued at $409,524 in the last ninety days. 42.77% of the stock is owned by company insiders.

Institutional Investors Weigh In On Apogee Therapeutics

Several institutional investors have recently modified their holdings of the company. Octagon Capital Advisors LP acquired a new stake in shares of Apogee Therapeutics in the 1st quarter worth approximately $399,752,000. Wellington Management Group LLP boosted its position in Apogee Therapeutics by 21.4% during the first quarter. Wellington Management Group LLP now owns 5,485,754 shares of the company’s stock worth $204,948,000 after purchasing an additional 968,391 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Apogee Therapeutics by 8.4% in the second quarter. Alliancebernstein L.P. now owns 1,388,149 shares of the company’s stock valued at $60,287,000 after purchasing an additional 107,199 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of Apogee Therapeutics by 77.5% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,290,464 shares of the company’s stock valued at $56,045,000 after buying an additional 563,464 shares in the last quarter. Finally, Perceptive Advisors LLC raised its stake in shares of Apogee Therapeutics by 5.3% during the 2nd quarter. Perceptive Advisors LLC now owns 1,182,148 shares of the company’s stock worth $51,341,000 after buying an additional 59,381 shares during the last quarter. Hedge funds and other institutional investors own 79.04% of the company’s stock.

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.