Apogee Therapeutics (NASDAQ:APGE) Hits New 12-Month High – Here’s What Happened

Shares of Apogee Therapeutics Inc. (NASDAQ:APGE) reached a new 52-week high during trading on Wednesday . The stock traded as high as $74.85 and last traded at $74.6250, with a volume of 586587 shares trading hands. The stock had previously closed at $69.13.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Apogee Therapeutics in a research note on Wednesday, October 8th. Citigroup reiterated a “buy” rating on shares of Apogee Therapeutics in a research report on Thursday, August 28th. Royal Bank Of Canada boosted their price target on Apogee Therapeutics from $60.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. Bank of America raised their price objective on Apogee Therapeutics from $78.00 to $87.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Finally, Wall Street Zen upgraded Apogee Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $98.38.

Apogee Therapeutics Trading Up 6.8%

The firm has a 50-day moving average of $55.34 and a two-hundred day moving average of $44.75. The firm has a market capitalization of $5.04 billion, a P/E ratio of -16.85 and a beta of 1.41.

Apogee Therapeutics (NASDAQ:APGE) last issued its earnings results on Monday, November 10th. The company reported ($1.11) EPS for the quarter, topping the consensus estimate of ($1.14) by $0.03. On average, sell-side analysts anticipate that Apogee Therapeutics Inc. will post -3.09 EPS for the current fiscal year.

Insider Buying and Selling

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 20,000 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $63.01, for a total transaction of $1,260,200.00. Following the sale, the chief executive officer owned 1,272,987 shares of the company’s stock, valued at approximately $80,210,910.87. The trade was a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Carl Dambkowski sold 10,785 shares of the stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $55.07, for a total value of $593,929.95. Following the completion of the transaction, the insider owned 282,008 shares of the company’s stock, valued at $15,530,180.56. The trade was a 3.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 35,895 shares of company stock worth $2,057,508 in the last 90 days. Company insiders own 42.77% of the company’s stock.

Institutional Trading of Apogee Therapeutics

A number of hedge funds have recently made changes to their positions in APGE. Lisanti Capital Growth LLC acquired a new position in shares of Apogee Therapeutics in the second quarter worth approximately $800,000. Fox Run Management L.L.C. acquired a new stake in Apogee Therapeutics during the 2nd quarter valued at approximately $437,000. Allspring Global Investments Holdings LLC bought a new position in Apogee Therapeutics during the 2nd quarter worth approximately $218,000. Woodline Partners LP lifted its position in shares of Apogee Therapeutics by 4.5% in the 1st quarter. Woodline Partners LP now owns 1,061,053 shares of the company’s stock worth $39,641,000 after purchasing an additional 45,445 shares during the period. Finally, Moody Aldrich Partners LLC bought a new stake in shares of Apogee Therapeutics in the 2nd quarter valued at $939,000. 79.04% of the stock is owned by institutional investors and hedge funds.

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.