Apogee Therapeutics (NASDAQ:APGE) Sets New 52-Week High - Still a Buy?

Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE - Get Free Report) hit a new 52-week high 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

Several analysts have recently commented on APGE shares. Wedbush reaffirmed an "outperform" rating and set a $90.00 price objective on shares of Apogee Therapeutics in a research report on Tuesday, March 11th. Citigroup initiated coverage on shares of Apogee Therapeutics in a report on Thursday, March 13th. They issued a "buy" rating and a $95.00 price target for the company. Finally, Guggenheim reiterated a "buy" rating on shares of Apogee Therapeutics in a report on Monday, February 10th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $92.17.

Apogee Therapeutics Stock Performance

The firm has a market cap of $1.80 billion, a P/E ratio of -16.58 and a beta of 1.70. The stock's 50 day simple moving average is $35.65 and its 200 day simple moving average is $42.14.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last posted its earnings results on Monday, March 3rd. The company reported ($1.19) EPS for the quarter, missing the consensus estimate of ($0.94) by ($0.25). As a group, analysts forecast that Apogee Therapeutics, Inc. will post -3.09 EPS for the current fiscal year.

Insider Activity

In other Apogee Therapeutics news, insider Carl Dambkowski sold 3,520 shares of the firm's stock in a transaction on Wednesday, February 5th. The stock was 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 approximately $10,279,229.87. This trade represents a 1.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Thomas Henderson sold 15,000 shares of Apogee Therapeutics stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $40.58, for a total transaction of $608,700.00. Following the transaction, the chief executive officer now directly owns 1,302,987 shares in the company, valued at $52,875,212.46. This represents a 1.14 % 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 worth $1,241,701 over the last 90 days. 36.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Apogee Therapeutics

Several hedge funds have recently modified their holdings of the company. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Apogee Therapeutics during the fourth quarter valued at approximately $32,621,000. Janus Henderson Group PLC increased 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 purchasing an additional 665,543 shares during the last quarter. Paradigm Biocapital Advisors LP raised its stake in shares of Apogee Therapeutics by 82.9% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 1,283,766 shares of the company's stock worth $58,155,000 after purchasing an additional 581,949 shares during the period. Jefferies Financial Group Inc. boosted its holdings in shares of Apogee Therapeutics by 140.4% in the 4th quarter. Jefferies Financial Group Inc. now owns 887,497 shares of the company's stock worth $40,204,000 after buying an additional 518,300 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Apogee Therapeutics by 38.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,052,595 shares of the company's stock valued at $47,683,000 after buying an additional 294,514 shares during the period. Institutional investors own 79.04% of the company's stock.

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.