Apogee Therapeutics (NASDAQ:APGE) Stock Price Down 3.6%

Apogee Therapeutics, Inc. (NASDAQ:APGE) fell 3.6% during trading on Tuesday . The stock traded as low as $37.47 and last traded at $37.58. 183,756 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 545,318 shares. The stock had previously closed at $38.99.

Analyst Ratings Changes

Several research firms recently commented on APGE. Stifel Nicolaus increased their price objective on Apogee Therapeutics from $46.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Wedbush reaffirmed an “outperform” rating and issued a $87.00 target price on shares of Apogee Therapeutics in a research note on Monday, May 13th. Jefferies Financial Group raised their target price on Apogee Therapeutics from $37.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Bank of America started coverage on Apogee Therapeutics in a research note on Friday, May 10th. They issued a “buy” rating and a $80.00 target price for the company. Finally, Guggenheim raised their target price on Apogee Therapeutics from $44.00 to $91.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $73.00.

Apogee Therapeutics Stock Performance

The business has a 50-day moving average of $48.88 and a 200-day moving average of $43.19. The stock has a market capitalization of $2.17 billion and a price-to-earnings ratio of -7.01.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly earnings data on Monday, May 13th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.04). Equities analysts predict that Apogee Therapeutics, Inc. will post -2.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Apogee Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of APGE. Amalgamated Bank purchased a new position in Apogee Therapeutics during the 3rd quarter valued at about $52,000. New York State Common Retirement Fund purchased a new position in Apogee Therapeutics during the 3rd quarter valued at about $90,000. EntryPoint Capital LLC boosted its holdings in Apogee Therapeutics by 44.7% during the 1st quarter. EntryPoint Capital LLC now owns 1,997 shares of the company’s stock valued at $133,000 after acquiring an additional 617 shares during the period. China Universal Asset Management Co. Ltd. purchased a new position in shares of Apogee Therapeutics in the 4th quarter valued at about $155,000. Finally, SG Americas Securities LLC boosted its stake in shares of Apogee Therapeutics by 34.0% in the 4th quarter. SG Americas Securities LLC now owns 6,607 shares of the company’s stock valued at $185,000 after buying an additional 1,676 shares during the period. 79.04% of the stock is currently owned by hedge funds and other 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.