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

Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) have been given an average rating of “Buy” by the seven research firms that are currently covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have covered the stock in the last year is $89.71.

A number of equities research analysts have commented on the company. Wedbush increased their target price on Apogee Therapeutics from $87.00 to $90.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. Canaccord Genuity Group initiated coverage on Apogee Therapeutics in a research note on Monday, November 25th. They set a “buy” rating and a $89.00 price objective on the stock. Canaccord Genuity Group assumed 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. Finally, Guggenheim restated a “buy” rating on shares of Apogee Therapeutics in a report on Thursday, December 12th.

Insider Buying and Selling

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 15,000 shares of Apogee Therapeutics stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $59.22, for a total value of $888,300.00. Following the transaction, the chief executive officer now owns 1,339,487 shares in the company, valued at $79,324,420.14. This trade represents a 1.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mark C. Mckenna acquired 20,000 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were purchased at an average price of $49.54 per share, with a total value of $990,800.00. Following the completion of the acquisition, the director now owns 20,000 shares in the company, valued at approximately $990,800. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 94,535 shares of company stock worth $5,133,635. 36.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Apogee Therapeutics

A number of large investors have recently modified their holdings of the company. Arizona State Retirement System increased its position in Apogee Therapeutics by 4.5% during the 2nd quarter. Arizona State Retirement System now owns 5,993 shares of the company’s stock worth $236,000 after purchasing an additional 258 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Apogee Therapeutics by 21.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,628 shares of the company’s stock worth $94,000 after buying an additional 285 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Apogee Therapeutics in the third quarter worth $71,000. Principal Financial Group Inc. raised its stake in shares of Apogee Therapeutics by 26.3% in the 2nd quarter. Principal Financial Group Inc. now owns 6,442 shares of the company’s stock valued at $253,000 after acquiring an additional 1,340 shares during the period. Finally, Handelsbanken Fonder AB lifted its holdings in shares of Apogee Therapeutics by 25.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 8,800 shares of the company’s stock valued at $517,000 after acquiring an additional 1,800 shares in the last quarter. 79.04% of the stock is currently owned by hedge funds and other institutional investors.

Apogee Therapeutics Price Performance

APGE stock opened at $47.71 on Friday. The company’s 50 day simple moving average is $50.78 and its 200-day simple moving average is $48.29. Apogee Therapeutics has a 12 month low of $24.88 and a 12 month high of $72.29. The firm has a market capitalization of $2.15 billion, a PE ratio of -19.71 and a beta of 2.30.

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.