Apogee Therapeutics (NASDAQ:APGE) Shares Down 2.2%

Apogee Therapeutics, Inc. (NASDAQ:APGE)’s stock price traded down 2.2% on Tuesday . The company traded as low as $42.97 and last traded at $43.50. 27,549 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 535,509 shares. The stock had previously closed at $44.46.

Wall Street Analysts Forecast Growth

APGE has been the topic of several research reports. Wedbush reissued an “outperform” rating and issued a $87.00 price target on shares of Apogee Therapeutics in a research report on Monday, May 13th. Bank of America started coverage on shares of Apogee Therapeutics in a research report on Friday, May 10th. They set a “buy” rating and a $80.00 target price for the company. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $73.00.

Apogee Therapeutics Price Performance

The company has a 50 day moving average price of $43.01 and a 200-day moving average price of $47.54. The stock has a market capitalization of $2.59 billion and a PE ratio of -8.29.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.60) EPS for the quarter, hitting the consensus estimate of ($0.60). As a group, equities analysts anticipate that Apogee Therapeutics, Inc. will post -2.64 earnings per share for the current year.

Insider Buying and Selling at Apogee Therapeutics

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 15,000 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $37.26, for a total transaction of $558,900.00. Following the completion of the sale, the chief executive officer now directly owns 1,474,487 shares in the company, valued at approximately $54,939,385.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Michael Thomas Henderson sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $37.26, for a total value of $558,900.00. Following the transaction, the chief executive officer now directly owns 1,474,487 shares of the company’s stock, valued at approximately $54,939,385.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Carl Dambkowski sold 7,335 shares of Apogee Therapeutics stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $40.67, for a total value of $298,314.45. Following the completion of the sale, the insider now directly owns 287,458 shares of the company’s stock, valued at approximately $11,690,916.86. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,330 shares of company stock worth $2,707,426. 36.10% of the stock is owned by insiders.

Institutional Trading of Apogee Therapeutics

Institutional investors have recently made changes to their positions in the stock. Jennison Associates LLC bought a new stake in Apogee Therapeutics in the 4th quarter worth approximately $2,899,000. Franklin Resources Inc. grew its position in shares of Apogee Therapeutics by 9.3% during the 4th quarter. Franklin Resources Inc. now owns 1,089,780 shares of the company’s stock valued at $30,448,000 after acquiring an additional 92,423 shares during the period. Braidwell LP grew its holdings in Apogee Therapeutics by 38.7% during the fourth quarter. Braidwell LP now owns 681,101 shares of the company’s stock valued at $19,030,000 after purchasing an additional 189,988 shares during the period. Vanguard Group Inc. lifted its position in shares of Apogee Therapeutics by 60.7% during the 1st quarter. Vanguard Group Inc. now owns 1,868,666 shares of the company’s stock valued at $124,173,000 after buying an additional 705,795 shares in the last quarter. Finally, Blackstone Inc. increased its stake in shares of Apogee Therapeutics by 17.6% in the fourth quarter. Blackstone Inc. now owns 351,810 shares of the company’s stock worth $9,830,000 after purchasing an additional 52,688 shares in 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.