Analysts Set Apogee Therapeutics Inc. (NASDAQ:APGE) PT at $99.00

Key Points

• Apogee Therapeutics Inc. (NASDAQ:APGE) has received a consensus rating of "Buy" from six equities research analysts, indicating strong market confidence in the stock.
• The average price target set by analysts for Apogee Therapeutics over the next year is $99.00, with Wedbush and Guggenheim providing target prices of $90.00 and $116.00, respectively.
• Insider Carl Dambkowski recently sold 10,090 shares of the company's stock for approximately $454,958, reducing his ownership stake in the company.

Shares of Apogee Therapeutics Inc. (NASDAQ:APGE - Get Free Report) have received an average recommendation of "Buy" from the six analysts that are presently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $99.00.

Several analysts have recently weighed in on APGE shares. Wedbush restated an "outperform" rating and set a $90.00 price target on shares of Apogee Therapeutics in a report on Monday, July 7th. Guggenheim restated a "buy" rating and issued a $116.00 price target on shares of Apogee Therapeutics in a research report on Wednesday, July 2nd. BTIG Research lifted their price target on shares of Apogee Therapeutics from $100.00 to $115.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Finally, Citigroup restated a "buy" rating on shares of Apogee Therapeutics in a report on Monday, July 7th.

Insider Activity at Apogee Therapeutics

In other news, insider Carl Dambkowski sold 10,090 shares of the business's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $45.09, for a total transaction of $454,958.10. Following the completion of the sale, the insider directly owned 238,998 shares of the company's stock, valued at $10,776,419.82. The trade was a 4.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 42.77% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Apogee Therapeutics

Institutional investors have recently bought and sold shares of the stock. Commonwealth Equity Services LLC purchased a new position in Apogee Therapeutics during the 4th quarter worth $222,000. KLP Kapitalforvaltning AS bought a new position in shares of Apogee Therapeutics during the fourth quarter valued at about $226,000. JPMorgan Chase & Co. grew its position in Apogee Therapeutics by 26.1% in the 4th quarter. JPMorgan Chase & Co. now owns 37,255 shares of the company's stock worth $1,688,000 after purchasing an additional 7,700 shares in the last quarter. Legal & General Group Plc increased its stake in Apogee Therapeutics by 15.7% in the 4th quarter. Legal & General Group Plc now owns 25,873 shares of the company's stock valued at $1,172,000 after buying an additional 3,520 shares during the last quarter. Finally, Kennedy Capital Management LLC lifted its position in shares of Apogee Therapeutics by 75.5% during the 4th quarter. Kennedy Capital Management LLC now owns 72,307 shares of the company's stock worth $3,276,000 after buying an additional 31,113 shares in the last quarter. Institutional investors own 79.04% of the company's stock.

Apogee Therapeutics Price Performance

Shares of APGE stock traded down $1.35 on Tuesday, hitting $34.65. 223,092 shares of the company's stock were exchanged, compared to its average volume of 753,969. The company has a 50 day moving average of $40.21 and a 200 day moving average of $38.06. The stock has a market cap of $1.60 billion, a P/E ratio of -9.63 and a beta of 1.43. Apogee Therapeutics has a 12 month low of $26.20 and a 12 month high of $63.50.

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