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Apogee Therapeutics (NASDAQ:APGE) Sees Strong Trading Volume - Should You Buy?

Apogee Therapeutics logo with Medical background

Apogee Therapeutics Inc. (NASDAQ:APGE - Get Free Report) shares saw strong trading volume on Monday . 1,582,969 shares were traded 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 Ratings Changes

Several brokerages have weighed in on APGE. Wedbush reaffirmed an "outperform" rating and set a $90.00 price target on shares of Apogee Therapeutics in a research report on Tuesday, March 11th. Citigroup began coverage on Apogee Therapeutics in a report on Thursday, March 13th. They set a "buy" rating and a $95.00 target price on the stock. Finally, Guggenheim reaffirmed a "buy" rating and set a $116.00 price objective on shares of Apogee Therapeutics in a research note on Wednesday, July 2nd. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $95.80.

Read Our Latest Stock Report on Apogee Therapeutics

Apogee Therapeutics Price Performance

The firm has a fifty day simple moving average of $40.36 and a 200 day simple moving average of $39.00. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of -11.11 and a beta of 1.47.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.95) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.19) by $0.24. Research analysts predict that Apogee Therapeutics Inc. will post -3.09 EPS for the current year.

Insider Activity

In other news, insider Carl Dambkowski sold 10,090 shares of Apogee Therapeutics stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $45.09, for a total value of $454,958.10. Following the sale, 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 Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 15,540 shares of company stock valued at $653,093 in the last quarter. 42.77% of the stock is owned by company insiders.

Institutional Investors Weigh In On Apogee Therapeutics

Several institutional investors have recently bought and sold shares of the company. Brooklyn Investment Group acquired a new position in Apogee Therapeutics during the first quarter worth about $42,000. GF Fund Management CO. LTD. acquired a new position in shares of Apogee Therapeutics in the 4th quarter valued at $43,000. AlphaQuest LLC acquired a new position in shares of Apogee Therapeutics in the 1st quarter worth approximately $43,000. GAMMA Investing LLC lifted its stake in Apogee Therapeutics by 3,560.1% during the first quarter. GAMMA Investing LLC now owns 5,417 shares of the company's stock worth $202,000 after purchasing an additional 5,269 shares in the last quarter. Finally, Optimize Financial Inc acquired a new position in Apogee Therapeutics during the 4th quarter worth about $203,000. 79.04% of the stock is currently owned by institutional investors and hedge funds.

About Apogee Therapeutics

(Get Free Report)

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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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