Apogee Therapeutics (NASDAQ:APGE) Issues Earnings Results

Apogee Therapeutics (NASDAQ:APGE) announced its earnings results on Monday. The company reported ($0.95) EPS for the quarter, beating analysts’ consensus estimates of ($1.19) by $0.24, Zacks reports.

Apogee Therapeutics Stock Performance

Shares of APGE stock opened at $39.58 on Tuesday. The stock has a fifty day simple moving average of $36.43 and a two-hundred day simple moving average of $41.42. The firm has a market capitalization of $1.78 billion, a PE ratio of -16.36 and a beta of 1.70. Apogee Therapeutics has a 52-week low of $26.20 and a 52-week high of $63.50.

Analyst Ratings Changes

Several research firms have recently commented on APGE. Wedbush restated an “outperform” rating and issued a $90.00 price objective on shares of Apogee Therapeutics in a research note on Tuesday, March 11th. Guggenheim restated a “buy” rating on shares of Apogee Therapeutics in a research report on Monday, February 10th. Finally, Citigroup started coverage on Apogee Therapeutics in a research note on Thursday, March 13th. They issued a “buy” rating and a $95.00 price objective on the stock. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $94.60.

Insider Activity

In related news, insider Carl Dambkowski sold 1,590 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $30.48, for a total value of $48,463.20. Following the transaction, the insider now directly owns 251,033 shares of the company’s stock, valued at approximately $7,651,485.84. The trade was a 0.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Thomas Henderson sold 10,000 shares of the 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 directly owns 1,292,987 shares of the company’s stock, valued at approximately $38,983,558.05. This trade represents a 0.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,175 shares of company stock worth $587,191 over the last ninety days. Corporate insiders own 36.10% 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.