Apogee Therapeutics (NASDAQ:APGE) Stock Price Up 3.3%

Apogee Therapeutics, Inc. (NASDAQ:APGE)’s stock price rose 3.3% during trading on Wednesday . The company traded as high as $52.53 and last traded at $52.34. Approximately 12,165 shares changed hands during mid-day trading, a decline of 98% from the average daily volume of 635,828 shares. The stock had previously closed at $50.66.

Wall Street Analyst Weigh In

APGE has been the topic of a number of recent analyst reports. BTIG Research initiated coverage on shares of Apogee Therapeutics in a research report on Wednesday, December 20th. They issued a “buy” rating and a $43.00 price target on the stock. Guggenheim raised their price objective on shares of Apogee Therapeutics from $44.00 to $91.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Wedbush restated an “outperform” rating and issued a $87.00 price objective (up previously from $40.00) on shares of Apogee Therapeutics in a research note on Tuesday, March 5th. Stifel Nicolaus raised their price objective on shares of Apogee Therapeutics from $46.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Finally, Jefferies Financial Group raised their price objective on shares of Apogee Therapeutics from $37.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $71.83.

Apogee Therapeutics Stock Performance

The stock’s 50 day simple moving average is $52.52 and its two-hundred day simple moving average is $33.91.

Apogee Therapeutics (NASDAQ:APGE) last posted its quarterly earnings results on Tuesday, March 5th. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.13. Equities analysts forecast that Apogee Therapeutics, Inc. will post -2.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in APGE. FMR LLC bought a new position in shares of Apogee Therapeutics during the third quarter valued at $89,619,000. RTW Investments LP bought a new position in shares of Apogee Therapeutics in the third quarter valued at about $45,637,000. RA Capital Management L.P. bought a new position in shares of Apogee Therapeutics in the third quarter valued at about $42,129,000. Wellington Management Group LLP bought a new position in shares of Apogee Therapeutics in the third quarter valued at about $33,037,000. Finally, Vanguard Group Inc. bought a new position in shares of Apogee Therapeutics in the third quarter valued at about $23,894,000. 79.04% of the stock is 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.