Apogee Therapeutics, Inc. (NASDAQ:APGE) Given Average Recommendation of "Buy" by Brokerages

Apogee Therapeutics, Inc. (NASDAQ:APGE - Get Free Report) has been given an average recommendation of "Buy" by the five ratings firms that are currently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a buy rating. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $94.60.

APGE has been the topic of several recent research reports. Wedbush restated an "outperform" rating and set a $90.00 price target on shares of Apogee Therapeutics in a report on Tuesday, March 11th. Citigroup assumed coverage on Apogee Therapeutics in a report on Thursday, March 13th. They set a "buy" rating and a $95.00 price target on the stock.

Insider Buying and Selling at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 2,725 shares of the company's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $35.75, for a total value of $97,418.75. Following the transaction, the insider now owns 244,448 shares of the company's stock, valued at $8,739,016. This represents a 1.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold 9,310 shares of company stock valued at $337,944 in the last quarter. 42.77% of the stock is owned by insiders.

Hedge Funds Weigh In On Apogee Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Rhumbline Advisers grew its position in shares of Apogee Therapeutics by 3.2% during the 1st quarter. Rhumbline Advisers now owns 54,385 shares of the company's stock worth $2,032,000 after buying an additional 1,665 shares in the last quarter. Woodline Partners LP grew its position in shares of Apogee Therapeutics by 4.5% during the 1st quarter. Woodline Partners LP now owns 1,061,053 shares of the company's stock worth $39,641,000 after buying an additional 45,445 shares in the last quarter. Octagon Capital Advisors LP bought a new position in shares of Apogee Therapeutics during the 1st quarter worth $399,752,000. Millennium Management LLC grew its position in shares of Apogee Therapeutics by 100.0% during the 1st quarter. Millennium Management LLC now owns 260,335 shares of the company's stock worth $9,726,000 after buying an additional 130,164 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Apogee Therapeutics by 2.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,529 shares of the company's stock worth $921,000 after buying an additional 694 shares in the last quarter. Institutional investors own 79.04% of the company's stock.

Apogee Therapeutics Stock Performance

NASDAQ:APGE opened at $44.48 on Monday. The stock's fifty day moving average is $37.29 and its 200 day moving average is $39.41. Apogee Therapeutics has a fifty-two week low of $26.20 and a fifty-two week high of $63.50. The firm has a market capitalization of $2.05 billion, a PE ratio of -18.38 and a beta of 1.38.

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

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.

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