Analysts Set Apogee Therapeutics, Inc. (NASDAQ:APGE) PT at $89.71

Apogee Therapeutics, Inc. (NASDAQ:APGE) has been assigned a consensus rating of “Buy” from the five analysts that are presently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a buy recommendation. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $91.60.

Several equities research analysts have recently commented on the stock. Wedbush reissued an “outperform” rating and set a $90.00 target price on shares of Apogee Therapeutics in a research report on Monday. Canaccord Genuity Group assumed coverage on shares of Apogee Therapeutics in a research report on Monday, November 25th. They set a “buy” rating and a $89.00 target price for the company. Guggenheim reissued a “buy” rating on shares of Apogee Therapeutics in a research report on Monday, February 10th. Finally, Canaccord Genuity Group assumed coverage on shares of Apogee Therapeutics in a research report on Monday, November 25th. They set a “buy” rating and a $89.00 target price for the company.

Insiders Place Their Bets

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 15,000 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $40.58, for a total value of $608,700.00. Following the completion of the sale, the chief executive officer now directly owns 1,302,987 shares of the company’s stock, valued at approximately $52,875,212.46. This represents a 1.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Carl Dambkowski sold 3,520 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $40.69, for a total transaction of $143,228.80. Following the transaction, the insider now directly owns 252,623 shares of the company’s stock, valued at $10,279,229.87. This represents a 1.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,145 shares of company stock valued at $1,897,799. Corporate insiders own 36.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP grew its position in shares of 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 acquiring an additional 1,267,451 shares during the period. Driehaus Capital Management LLC grew its position 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 valued at $118,021,000 after acquiring an additional 71,703 shares during the period. Alliancebernstein L.P. grew its position 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 valued at $61,390,000 after acquiring an additional 160,822 shares during the period. Paradigm Biocapital Advisors LP grew its position 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 valued at $58,155,000 after acquiring an additional 581,949 shares during the period. Finally, Janus Henderson Group PLC grew its position 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 valued at $51,455,000 after acquiring an additional 665,543 shares during the period. 79.04% of the stock is owned by institutional investors.

Apogee Therapeutics Trading Up 3.5 %

Shares of NASDAQ APGE opened at $31.43 on Thursday. The firm’s 50-day moving average price is $39.67 and its 200-day moving average price is $47.21. Apogee Therapeutics has a 1-year low of $29.10 and a 1-year high of $72.29. The firm has a market capitalization of $1.42 billion, a P/E ratio of -12.99 and a beta of 2.46.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly earnings data on Monday, March 3rd. The company reported ($1.19) earnings per share for the quarter, missing the consensus estimate of ($0.94) by ($0.25). Equities research analysts forecast that Apogee Therapeutics will post -3.09 EPS for the current year.

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.