Apogee Therapeutics Inc. (NASDAQ:APGE) Receives $99.00 Average Price Target from Analysts

Shares of Apogee Therapeutics Inc. (NASDAQ:APGE - Get Free Report) have received a consensus rating of "Buy" from the six brokerages that are presently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $99.00.

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

Apogee Therapeutics Stock Down 1.1%

Shares of APGE traded down $0.43 during mid-day trading on Friday, reaching $38.14. The company had a trading volume of 953,777 shares, compared to its average volume of 606,763. Apogee Therapeutics has a 52-week low of $26.20 and a 52-week high of $63.50. The stock has a 50 day moving average of $40.30 and a two-hundred day moving average of $38.85.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.95) EPS for the quarter, topping analysts' consensus estimates of ($1.19) by $0.24. On average, sell-side analysts predict that Apogee Therapeutics will post -3.09 EPS for the current year.

Insider Activity at Apogee Therapeutics

In related news, insider Carl Dambkowski sold 10,090 shares of the company'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 owned 238,998 shares of the company's stock, valued at approximately $10,776,419.82. This represents a 4.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 15,540 shares of company stock valued at $653,093 in the last ninety days. 42.77% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Apogee Therapeutics

A number of large investors have recently made changes to their positions in the stock. Octagon Capital Advisors LP purchased a new stake in shares of Apogee Therapeutics in the first quarter valued at about $399,752,000. Wellington Management Group LLP grew its stake in shares of Apogee Therapeutics by 21.4% in the 1st quarter. Wellington Management Group LLP now owns 5,485,754 shares of the company's stock valued at $204,948,000 after buying an additional 968,391 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Apogee Therapeutics during the 4th quarter worth approximately $32,621,000. Janus Henderson Group PLC raised its position in shares of Apogee Therapeutics by 141.7% during the 4th quarter. Janus Henderson Group PLC now owns 1,135,100 shares of the company's stock valued at $51,455,000 after buying an additional 665,543 shares during the period. Finally, Paradigm Biocapital Advisors LP lifted its holdings in Apogee Therapeutics by 82.9% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 1,283,766 shares of the company's stock valued at $58,155,000 after acquiring an additional 581,949 shares during the last quarter. 79.04% of the stock is currently owned by hedge funds and other 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.