Apogee Therapeutics (NASDAQ:APGE) Sets New 52-Week High - Time to Buy?

Apogee Therapeutics, Inc. (NASDAQ:APGE - Get Free Report) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $39.77 and last traded at $39.25, with a volume of 486858 shares. The stock had previously closed at $37.78.

Analyst Upgrades and Downgrades

APGE has been the topic of a number of recent research reports. Citigroup initiated coverage on Apogee Therapeutics in a research note on Thursday, March 13th. They issued a "buy" rating and a $95.00 target price on the stock. Wedbush reissued an "outperform" rating and set a $90.00 price objective on shares of Apogee Therapeutics in a research note on Tuesday, March 11th. Finally, Guggenheim reissued a "buy" rating on shares of Apogee Therapeutics in a research report on Monday, February 10th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $92.17.

Apogee Therapeutics Stock Down 4.0 %

The business has a 50-day simple moving average of $35.82 and a two-hundred day simple moving average of $41.95. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of -15.62 and a beta of 1.70.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last announced its quarterly earnings data on Monday, March 3rd. The company reported ($1.19) earnings per share for the quarter, missing the consensus estimate of ($0.94) by ($0.25). On average, analysts forecast that Apogee Therapeutics, Inc. will post -3.09 EPS for the current year.

Insider Transactions at Apogee Therapeutics

In other news, insider Carl Dambkowski sold 3,520 shares of the business's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $40.69, for a total transaction of $143,228.80. Following the transaction, the insider now directly owns 252,623 shares in the company, valued at $10,279,229.87. The trade was a 1.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael Thomas Henderson sold 10,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $30.15, for a total value of $301,500.00. Following the sale, the chief executive officer now owns 1,292,987 shares of the company's stock, valued at approximately $38,983,558.05. This represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,970 shares of company stock valued at $1,241,701 over the last three months. Company insiders own 36.10% of the company's stock.

Hedge Funds Weigh In On Apogee Therapeutics

A number of institutional investors have recently modified their holdings of APGE. Barclays PLC grew its stake in shares of Apogee Therapeutics by 369.2% in the third quarter. Barclays PLC now owns 365,046 shares of the company's stock worth $21,443,000 after acquiring an additional 287,243 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Apogee Therapeutics by 4.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 29,555 shares of the company's stock valued at $1,736,000 after purchasing an additional 1,212 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Apogee Therapeutics by 22.2% in the fourth quarter. SG Americas Securities LLC now owns 9,890 shares of the company's stock valued at $448,000 after acquiring an additional 1,796 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Apogee Therapeutics by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,547 shares of the company's stock worth $432,000 after purchasing an additional 892 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in Apogee Therapeutics by 3.4% during the 4th quarter. Rhumbline Advisers now owns 52,720 shares of the company's stock worth $2,388,000 after acquiring an additional 1,750 shares during the last quarter. Institutional investors own 79.04% of the company's stock.

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.