Apogee Therapeutics (NASDAQ:APGE) Sees Strong Trading Volume - Still a Buy?

Apogee Therapeutics Inc. (NASDAQ:APGE - Get Free Report) saw unusually-high trading volume on Monday . Approximately 1,582,969 shares changed hands during mid-day trading, an increase of 177% from the previous session's volume of 571,061 shares.The stock last traded at $40.35 and had previously closed at $47.46.

Analyst Upgrades and Downgrades

APGE has been the subject of several analyst reports. Citigroup restated a "buy" rating on shares of Apogee Therapeutics in a research note on Monday. BTIG Research upped their price objective on Apogee Therapeutics from $100.00 to $115.00 and gave the stock a "buy" rating in a research note on Monday. Wedbush restated an "outperform" rating and issued a $90.00 price objective on shares of Apogee Therapeutics in a research note on Monday. Finally, Guggenheim restated a "buy" rating and issued a $116.00 price objective on shares of Apogee Therapeutics in a research note on Wednesday, July 2nd. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $99.00.

Apogee Therapeutics Trading Down 6.6%

The firm has a market cap of $1.69 billion, a PE ratio of -10.18 and a beta of 1.47. The stock has a 50 day simple moving average of $40.38 and a 200-day simple moving average of $38.95.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.95) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.19) by $0.24. On average, equities research analysts expect 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 10,090 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $45.09, for a total transaction of $454,958.10. Following the completion of the transaction, the insider owned 238,998 shares in the company, valued at $10,776,419.82. This trade represents a 4.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last ninety days, insiders sold 15,540 shares of company stock valued at $653,093. Corporate insiders own 42.77% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Brooklyn Investment Group purchased a new position in shares of Apogee Therapeutics during the first quarter valued at about $42,000. GF Fund Management CO. LTD. purchased a new position in shares of Apogee Therapeutics during the fourth quarter valued at about $43,000. AlphaQuest LLC purchased a new position in shares of Apogee Therapeutics during the first quarter valued at about $43,000. GAMMA Investing LLC grew its position in shares of Apogee Therapeutics by 3,560.1% during the first quarter. GAMMA Investing LLC now owns 5,417 shares of the company's stock valued at $202,000 after purchasing an additional 5,269 shares in the last quarter. Finally, Optimize Financial Inc purchased a new position in shares of Apogee Therapeutics during the fourth quarter valued at about $203,000. Hedge funds and other 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.