Apogee Therapeutics (NASDAQ:APGE) Trading 6.2% Higher

Apogee Therapeutics, Inc. (NASDAQ:APGE)’s stock price rose 6.2% during mid-day trading on Monday . The stock traded as high as $48.61 and last traded at $48.05. Approximately 71,348 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 529,852 shares. The stock had previously closed at $45.25.

Wall Street Analyst Weigh In

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

Apogee Therapeutics Trading Down 1.3 %

The firm’s 50 day simple moving average is $43.40 and its 200 day simple moving average is $48.02. The firm has a market cap of $2.83 billion and a PE ratio of -9.19.

Apogee Therapeutics (NASDAQ:APGE) last posted 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 research analysts predict that Apogee Therapeutics, Inc. will post -2.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Michael Thomas Henderson sold 40,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $40.62, for a total transaction of $1,624,800.00. Following the transaction, the chief executive officer now directly owns 1,434,487 shares in the company, valued at approximately $58,268,861.94. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Michael Thomas Henderson sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $40.62, for a total transaction of $1,624,800.00. Following the sale, the chief executive officer now directly owns 1,434,487 shares of the company’s stock, valued at $58,268,861.94. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Carl Dambkowski sold 7,335 shares of Apogee Therapeutics stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $40.67, for a total value of $298,314.45. Following the completion of the transaction, the insider now 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. Insiders sold a total of 68,330 shares of company stock worth $2,707,426 over the last 90 days. Company insiders own 36.10% of the company’s stock.

Institutional Trading of Apogee Therapeutics

Large investors have recently modified their holdings of the stock. EntryPoint Capital LLC boosted its stake in shares of Apogee Therapeutics by 44.7% during the first quarter. EntryPoint Capital LLC now owns 1,997 shares of the company’s stock worth $133,000 after buying an additional 617 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Apogee Therapeutics in the 2nd quarter valued at $143,000. Kennedy Capital Management LLC acquired a new position in Apogee Therapeutics during the first quarter worth approximately $212,000. Arizona State Retirement System raised its stake in shares of Apogee Therapeutics by 4.5% in the 2nd quarter. Arizona State Retirement System now owns 5,993 shares of the company’s stock valued at $236,000 after acquiring an additional 258 shares during the period. Finally, New York State Common Retirement Fund grew its holdings in Apogee Therapeutics by 113.3% during the 4th quarter. New York State Common Retirement Fund now owns 8,969 shares of the company’s stock valued at $251,000 after purchasing an additional 4,764 shares in the last quarter. Hedge funds and other institutional investors own 79.04% of the company’s stock.

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.