Apogee Therapeutics’ (APGE) “Buy” Rating Reiterated at Guggenheim

Apogee Therapeutics (NASDAQ:APGE)‘s stock had its “buy” rating reiterated by research analysts at Guggenheim in a research report issued on Tuesday,Benzinga reports. They presently have a $110.00 price target on the stock, up from their previous price target of $95.00. Guggenheim’s target price would indicate a potential upside of 138.10% from the stock’s previous close.

Several other equities analysts have also recently issued reports on APGE. Canaccord Genuity Group initiated coverage on Apogee Therapeutics in a research note on Monday, November 25th. They issued a “buy” rating and a $89.00 price objective for the company. Canaccord Genuity Group initiated coverage on shares of Apogee Therapeutics in a report on Monday, November 25th. They set a “buy” rating and a $89.00 price target for the company. Finally, Wedbush raised their price objective on shares of Apogee Therapeutics from $87.00 to $90.00 and gave the company an “outperform” rating in a report on Monday. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $83.88.

Apogee Therapeutics Price Performance

Shares of NASDAQ APGE traded up $0.06 during mid-day trading on Tuesday, hitting $46.20. The company had a trading volume of 105,614 shares, compared to its average volume of 494,511. The company has a market capitalization of $2.08 billion, a PE ratio of -19.09 and a beta of 2.33. The business’s 50-day simple moving average is $53.40 and its 200 day simple moving average is $48.39. Apogee Therapeutics has a 1-year low of $18.84 and a 1-year high of $72.29.

Insider Activity

In other news, insider Carl Dambkowski sold 6,665 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $47.56, for a total transaction of $316,987.40. Following the transaction, the insider now directly owns 280,793 shares in the company, valued at approximately $13,354,515.08. This trade represents a 2.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael Thomas Henderson sold 40,000 shares of Apogee Therapeutics stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $56.23, for a total transaction of $2,249,200.00. Following the completion of the transaction, the chief executive officer now directly owns 1,354,487 shares in the company, valued at $76,162,804.01. The trade was a 2.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 114,995 shares of company stock worth $6,128,295. Corporate insiders own 36.10% of the company’s stock.

Hedge Funds Weigh In On Apogee Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Apogee Therapeutics in the 3rd quarter valued at $71,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Apogee Therapeutics by 21.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,628 shares of the company’s stock valued at $94,000 after acquiring an additional 285 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Apogee Therapeutics during the second quarter worth about $143,000. Wexford Capital LP acquired a new stake in Apogee Therapeutics in the third quarter valued at about $230,000. Finally, Arizona State Retirement System boosted its holdings in 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 purchasing an additional 258 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.