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

Key Points

• Apogee Therapeutics Inc. has received a consensus rating of "Moderate Buy" from analysts, with one hold rating and seven buy ratings, reflecting positive market sentiment.
• The average one-year target price for Apogee Therapeutics shares among brokerages is $97.29, indicating a potential upside from current trading levels.
• Insider Carl Dambkowski sold 10,090 shares, reducing ownership by 4.05%, while total insider sales over the last 90 days amounted to 15,540 shares valued at $658,625.

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

A number of analysts have commented on the stock. Zacks Research lowered shares of Apogee Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 14th. Wedbush reaffirmed an "outperform" rating and set a $90.00 price objective on shares of Apogee Therapeutics in a research note on Monday, August 11th. Citigroup reaffirmed a "buy" rating on shares of Apogee Therapeutics in a research note on Thursday. BTIG Research upped their target price on Apogee Therapeutics from $100.00 to $115.00 and gave the company a "buy" rating in a report on Monday, July 7th. Finally, Bank of America upped their target price on Apogee Therapeutics from $78.00 to $87.00 and gave the company a "buy" rating in a report on Thursday.

Insider Activity at Apogee Therapeutics

In other news, insider Carl Dambkowski sold 10,090 shares of Apogee Therapeutics 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 transaction, the insider owned 238,998 shares of the company's stock, valued at $10,776,419.82. This trade represents a 4.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 15,540 shares of company stock valued at $658,625 over the last 90 days. Company insiders own 42.77% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ameriprise Financial Inc. bought a new position in shares of Apogee Therapeutics in the fourth quarter valued at about $259,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Apogee Therapeutics by 4.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,835 shares of the company's stock worth $1,078,000 after buying an additional 931 shares during the period. 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 during the period. BNP Paribas Financial Markets bought a new position in shares of Apogee Therapeutics during the 4th quarter valued at about $219,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Apogee Therapeutics by 93.3% during 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 purchasing an additional 103,404 shares in the last quarter. 79.04% of the stock is owned by institutional investors.

Apogee Therapeutics Trading Down 0.7%

Shares of NASDAQ APGE opened at $36.37 on Friday. Apogee Therapeutics has a twelve month low of $26.20 and a twelve month high of $63.50. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of -8.81 and a beta of 1.43. The firm has a 50-day moving average of $39.09 and a two-hundred day moving average of $37.71.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported ($1.13) EPS for the quarter, missing analysts' consensus estimates of ($1.03) by ($0.10). As a group, research analysts predict that Apogee Therapeutics will post -3.09 earnings per share 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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