Apogee Therapeutics Inc. (NASDAQ:APGE) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Apogee Therapeutics Inc. (NASDAQ:APGE) has received a consensus rating of "Moderate Buy" from analysts, with seven out of eight analysts recommending a buy on the stock.
• The average one-year target price for Apogee’s shares is approximately $97.29, while the stock recently opened at $38.13 and has a market capitalization of $1.76 billion.
• Despite missing earnings expectations with a reported EPS of (1.13), analysts project Apogee will post an EPS of (3.09) for the current year.

Shares of Apogee Therapeutics Inc. (NASDAQ:APGE - Get Free Report) have earned an average rating of "Moderate Buy" from the eight ratings firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $97.2857.

A number of brokerages have recently commented on APGE. Wedbush reaffirmed an "outperform" rating and issued a $90.00 target price on shares of Apogee Therapeutics in a report on Monday, August 11th. Zacks Research downgraded shares of Apogee Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 14th. 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, July 7th. Citigroup restated a "buy" rating on shares of Apogee Therapeutics in a research report on Thursday, August 28th. Finally, Guggenheim restated a "buy" rating and set a $116.00 price objective on shares of Apogee Therapeutics in a research report on Wednesday, July 2nd.

Apogee Therapeutics Price Performance

Shares of Apogee Therapeutics stock opened at $38.13 on Wednesday. The firm's fifty day simple moving average is $37.70 and its 200-day simple moving average is $38.19. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of -9.23 and a beta of 1.42. 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 announced its earnings results on Monday, August 11th. The company reported ($1.13) EPS for the quarter, missing analysts' consensus estimates of ($1.03) by ($0.10). Analysts anticipate that Apogee Therapeutics will post -3.09 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Carl Dambkowski sold 10,090 shares of the company's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $45.09, for a total transaction of $454,958.10. Following the transaction, the insider directly owned 238,998 shares of the company's stock, valued at $10,776,419.82. This represents a 4.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders have sold 15,540 shares of company stock worth $661,104. 42.77% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Apogee Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ameriprise Financial Inc. acquired a new position in shares of Apogee Therapeutics during the 4th quarter worth $259,000. Rhumbline Advisers grew its stake in Apogee Therapeutics by 3.2% in the 1st quarter. Rhumbline Advisers now owns 54,385 shares of the company's stock valued at $2,032,000 after acquiring an additional 1,665 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in Apogee Therapeutics in the 4th quarter valued at about $219,000. Bank of New York Mellon Corp grew its stake in Apogee Therapeutics by 93.3% in the 1st quarter. Bank of New York Mellon Corp now owns 214,231 shares of the company's stock valued at $8,004,000 after acquiring an additional 103,404 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in Apogee Therapeutics by 4.4% in the 1st quarter. Victory Capital Management Inc. now owns 232,983 shares of the company's stock valued at $8,704,000 after acquiring an additional 9,921 shares during the last quarter. 79.04% of the stock is owned by institutional investors and hedge funds.

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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