Apogee Therapeutics (NASDAQ:APGE) Sets New 52-Week Low – Should You Sell?

Apogee Therapeutics, Inc. (NASDAQ:APGE) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $33.11 and last traded at $32.90, with a volume of 301217 shares trading hands. The stock had previously closed at $34.93.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Guggenheim restated a “buy” rating on shares of Apogee Therapeutics in a research note on Monday, February 10th. Canaccord Genuity Group started coverage on Apogee Therapeutics in a research note on Monday, November 25th. They set a “buy” rating and a $89.00 price objective on the stock. Wedbush increased their price target on Apogee Therapeutics from $87.00 to $90.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Finally, Canaccord Genuity Group started coverage on Apogee Therapeutics in a research report on Monday, November 25th. They set a “buy” rating and a $89.00 price target on the stock. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Apogee Therapeutics currently has a consensus rating of “Buy” and an average price target of $89.71.

Apogee Therapeutics Trading Up 1.8 %

The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of -14.28 and a beta of 2.18. The firm has a 50-day moving average of $41.84 and a 200 day moving average of $47.71.

Insider Activity at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 3,520 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $40.69, for a total transaction of $143,228.80. Following the completion of the transaction, the insider now directly owns 252,623 shares of the company’s stock, valued at approximately $10,279,229.87. This trade represents a 1.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Thomas Henderson sold 15,000 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $40.58, for a total value of $608,700.00. Following the transaction, the chief executive officer now directly owns 1,302,987 shares of the company’s stock, valued at approximately $52,875,212.46. The trade was a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 63,810 shares of company stock worth $2,903,556 in the last three months. 36.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Apogee Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in Apogee Therapeutics by 35.7% during the 3rd quarter. Wellington Management Group LLP now owns 4,814,400 shares of the company’s stock valued at $282,798,000 after purchasing an additional 1,267,451 shares in the last quarter. Driehaus Capital Management LLC boosted its stake in shares of Apogee Therapeutics by 2.8% during the 4th quarter. Driehaus Capital Management LLC now owns 2,605,310 shares of the company’s stock worth $118,021,000 after acquiring an additional 71,703 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Apogee Therapeutics by 13.5% during the 4th quarter. Alliancebernstein L.P. now owns 1,355,185 shares of the company’s stock worth $61,390,000 after acquiring an additional 160,822 shares in the last quarter. Paradigm Biocapital Advisors LP boosted its stake in shares of Apogee Therapeutics by 82.9% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 1,283,766 shares of the company’s stock worth $58,155,000 after acquiring an additional 581,949 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Apogee Therapeutics by 141.7% during the 4th quarter. Janus Henderson Group PLC now owns 1,135,100 shares of the company’s stock worth $51,455,000 after acquiring an additional 665,543 shares in the last quarter. 79.04% of the stock is owned by institutional investors.

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.