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

Shares of Apogee Therapeutics Inc. (NASDAQ:APGE - Get Free Report) have been given an average rating of "Buy" by the six brokerages that are currently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $99.00.

Several research analysts have recently commented on the stock. Guggenheim reaffirmed a "buy" rating and issued a $116.00 price target on shares of Apogee Therapeutics in a 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 company a "buy" rating in a report on Monday, July 7th. Citigroup reaffirmed a "buy" rating on shares of Apogee Therapeutics in a report on Monday, July 7th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $90.00 price target on shares of Apogee Therapeutics in a report on Monday, July 7th.

Apogee Therapeutics Stock Up 1.9%

Shares of APGE traded up $0.74 during midday trading on Friday, hitting $38.88. The company had a trading volume of 566,683 shares, compared to its average volume of 607,176. The company's 50 day moving average price is $40.26 and its 200 day moving average price is $38.67. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of -10.80 and a beta of 1.47. 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 released its earnings results on Monday, May 12th. The company reported ($0.95) earnings per share for the quarter, topping the consensus estimate of ($1.19) by $0.24. Equities analysts anticipate that Apogee Therapeutics will post -3.09 EPS for the current fiscal year.

Insider Activity at Apogee Therapeutics

In related news, insider Carl Dambkowski sold 10,090 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $45.09, for a total value of $454,958.10. Following the sale, the insider directly owned 238,998 shares in the company, valued at $10,776,419.82. The trade was a 4.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have sold 15,540 shares of company stock worth $653,093. 42.77% of the stock is currently owned by insiders.

Institutional Trading of Apogee Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. acquired a new position in shares of Apogee Therapeutics during the 4th quarter worth $43,000. Brooklyn Investment Group bought a new position in shares of Apogee Therapeutics during the 1st quarter worth about $42,000. AlphaQuest LLC bought a new position in shares of Apogee Therapeutics during the 1st quarter worth about $43,000. Optimize Financial Inc bought a new position in shares of Apogee Therapeutics during the 4th quarter worth about $203,000. Finally, BNP Paribas Financial Markets bought a new position in shares of Apogee Therapeutics during the 4th quarter worth about $219,000. 79.04% of the stock is currently owned by institutional investors.

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.