Brokerages Set Apogee Therapeutics, Inc. (NASDAQ:APGE) Target Price at $94.60

Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE - Get Free Report) have earned a consensus recommendation of "Buy" from the five brokerages that are currently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy rating. The average 1 year target price among brokerages that have covered the stock in the last year is $94.60.

APGE has been the subject of a number of analyst reports. Wedbush restated an "outperform" rating and set a $90.00 target price on shares of Apogee Therapeutics in a report on Tuesday, March 11th. Citigroup initiated coverage on Apogee Therapeutics in a report on Thursday, March 13th. They set a "buy" rating and a $95.00 target price for the company. Finally, Guggenheim restated a "buy" rating on shares of Apogee Therapeutics in a report on Monday, February 10th.

Insider Transactions at Apogee Therapeutics

In other news, CEO Michael Thomas Henderson sold 10,000 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $30.15, for a total transaction of $301,500.00. Following the transaction, the chief executive officer now directly owns 1,292,987 shares of the company's stock, valued at approximately $38,983,558.05. This represents a 0.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Carl Dambkowski sold 3,860 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $36.22, for a total value of $139,809.20. Following the transaction, the insider now directly owns 247,173 shares in the company, valued at approximately $8,952,606.06. The trade was a 1.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,175 shares of company stock valued at $587,191. Corporate insiders own 42.77% of the company's stock.

Hedge Funds Weigh In On Apogee Therapeutics

Large investors have recently made changes to their positions in the business. Brooklyn Investment Group acquired a new position in shares of Apogee Therapeutics during the first quarter worth $42,000. GF Fund Management CO. LTD. acquired a new position in shares of Apogee Therapeutics in the 4th quarter valued at $43,000. AlphaQuest LLC acquired a new position in shares of Apogee Therapeutics in the 1st quarter valued at $43,000. GAMMA Investing LLC increased its position in shares of Apogee Therapeutics by 3,560.1% in the 1st quarter. GAMMA Investing LLC now owns 5,417 shares of the company's stock valued at $202,000 after acquiring an additional 5,269 shares during the period. Finally, Optimize Financial Inc acquired a new position in shares of Apogee Therapeutics in the 4th quarter valued at $203,000. 79.04% of the stock is owned by institutional investors and hedge funds.

Apogee Therapeutics Trading Down 2.2%

Shares of NASDAQ APGE traded down $0.88 during trading hours on Thursday, reaching $39.48. The stock had a trading volume of 405,796 shares, compared to its average volume of 524,664. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of -16.31 and a beta of 1.70. The business's fifty day moving average price is $36.74 and its two-hundred day moving average price is $40.54. Apogee Therapeutics has a 52-week low of $26.20 and a 52-week high of $63.50.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.95) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.19) by $0.24. Equities research analysts anticipate that Apogee Therapeutics will post -3.09 earnings per share for the current fiscal 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.