Apogee Therapeutics (NASDAQ:APGE) Issues Quarterly Earnings Results, Beats Expectations By $0.24 EPS

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) released its quarterly earnings results on Monday. The company reported ($0.95) EPS for the quarter, beating the consensus estimate of ($1.19) by $0.24, Zacks reports.

Apogee Therapeutics Price Performance

NASDAQ:APGE opened at $37.29 on Monday. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of -15.41 and a beta of 1.70. The company's 50-day moving average is $36.26 and its two-hundred day moving average is $41.51. Apogee Therapeutics has a 1-year low of $26.20 and a 1-year high of $63.50.

Insider Activity

In other news, insider Carl Dambkowski sold 3,860 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $36.22, for a total value of $139,809.20. Following the completion of the transaction, the insider now owns 247,173 shares in the company, valued at approximately $8,952,606.06. This represents a 1.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael Thomas Henderson sold 10,000 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $30.15, for a total transaction of $301,500.00. Following the completion of the transaction, the chief executive officer now owns 1,292,987 shares of the company's stock, valued at approximately $38,983,558.05. The trade was a 0.77% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,175 shares of company stock valued at $587,191. Company insiders own 36.10% of the company's stock.

Analysts Set New Price Targets

APGE has been the topic of several research analyst reports. Guggenheim reiterated a "buy" rating on shares of Apogee Therapeutics in a research report on Monday, February 10th. Wedbush restated an "outperform" rating and set a $90.00 price target on shares of Apogee Therapeutics in a research report on Tuesday, March 11th. Finally, Citigroup began coverage on shares of Apogee Therapeutics in a research report on Thursday, March 13th. They set a "buy" rating and a $95.00 price target on the stock. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $94.60.

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.

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