Apogee Therapeutics, Inc. (NASDAQ:APGE) Sees Large Increase in Short Interest

Apogee Therapeutics, Inc. (NASDAQ:APGE) was the target of a large growth in short interest in August. As of August 15th, there was short interest totalling 8,190,000 shares, a growth of 5.3% from the July 31st total of 7,780,000 shares. Approximately 22.0% of the company’s stock are short sold. Based on an average trading volume of 443,300 shares, the days-to-cover ratio is currently 18.5 days.

Apogee Therapeutics Price Performance

APGE traded up $1.74 on Monday, reaching $51.17. 454,900 shares of the stock were exchanged, compared to its average volume of 518,767. The company’s 50-day moving average price is $44.84 and its 200 day moving average price is $48.73. Apogee Therapeutics has a fifty-two week low of $14.19 and a fifty-two week high of $72.29. The firm has a market capitalization of $2.30 billion and a PE ratio of -9.75.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.60) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.60). As a group, equities analysts forecast that Apogee Therapeutics will post -2.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

APGE has been the topic of several research analyst reports. Wedbush restated an “outperform” rating and set a $87.00 target price on shares of Apogee Therapeutics in a research note on Monday, May 13th. Bank of America initiated coverage on Apogee Therapeutics in a research note on Friday, May 10th. They set a “buy” rating and a $80.00 target price on the stock. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $78.50.

Insider Buying and Selling at Apogee Therapeutics

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 15,000 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $37.26, for a total transaction of $558,900.00. Following the sale, the chief executive officer now owns 1,474,487 shares of the company’s stock, valued at approximately $54,939,385.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Michael Thomas Henderson sold 15,000 shares of the business’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $37.26, for a total transaction of $558,900.00. Following the transaction, the chief executive officer now directly owns 1,474,487 shares in the company, valued at approximately $54,939,385.62. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Carl Dambkowski sold 5,995 shares of the business’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $37.60, for a total value of $225,412.00. Following the transaction, the insider now owns 294,793 shares in the company, valued at $11,084,216.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,330 shares of company stock valued at $2,996,986. 36.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Apogee Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. EntryPoint Capital LLC lifted its holdings in shares of Apogee Therapeutics by 44.7% in the 1st quarter. EntryPoint Capital LLC now owns 1,997 shares of the company’s stock valued at $133,000 after buying an additional 617 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Apogee Therapeutics in the 2nd quarter valued at about $143,000. Kennedy Capital Management LLC acquired a new position in shares of Apogee Therapeutics in the 1st quarter valued at about $212,000. Arizona State Retirement System lifted its holdings 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 buying an additional 258 shares during the period. Finally, New York State Common Retirement Fund increased its stake in shares of Apogee Therapeutics by 113.3% in 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. Institutional investors and hedge funds 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.