Apogee Therapeutics (NASDAQ:APGE) Sees Unusually-High Trading Volume - What's Next?

Key Points

• Apogee Therapeutics experienced a significant increase in trading volume, with approximately 884,989 shares traded, representing a 25% increase from the previous day's volume.
• Analysts remain bullish on the stock, with eight analysts rating it as a Buy and a consensus price target of $92.63.
• The stock's market cap is noted at $2.45 billion, but it reported a quarterly earnings loss of ($1.13) per share, missing estimates by $0.10.

Apogee Therapeutics Inc. (NASDAQ:APGE - Get Free Report) saw unusually-strong trading volume on Thursday . Approximately 884,989 shares changed hands during trading, an increase of 25% from the previous session's volume of 705,476 shares.The stock last traded at $49.08 and had previously closed at $47.24.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Citigroup reissued a "buy" rating on shares of Apogee Therapeutics in a research note on Thursday, August 28th. Guggenheim reissued a "buy" rating and issued a $116.00 price objective on shares of Apogee Therapeutics in a research note on Wednesday, July 2nd. Royal Bank Of Canada assumed coverage on shares of Apogee Therapeutics in a research note on Thursday, September 25th. They issued an "outperform" rating and a $60.00 price objective for the company. Zacks Research lowered shares of Apogee Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 14th. Finally, Wedbush reissued an "outperform" rating and issued a $90.00 price objective on shares of Apogee Therapeutics in a research note on Monday, August 11th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.63.

Apogee Therapeutics Stock Up 12.6%

The company's fifty day moving average is $37.82 and its two-hundred day moving average is $38.23. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of -12.88 and a beta of 1.43.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported ($1.13) earnings per share for the quarter, missing the consensus estimate of ($1.03) by ($0.10). Sell-side analysts predict that Apogee Therapeutics Inc. will post -3.09 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Carl Dambkowski sold 5,110 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $39.80, for a total value of $203,378.00. Following the sale, the insider owned 284,733 shares of the company's stock, valued at $11,332,373.40. This trade represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 10,560 shares of company stock valued at $409,524 over the last 90 days. 42.77% of the stock is owned by company insiders.

Institutional Trading of Apogee Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC raised its holdings in Apogee Therapeutics by 99.2% during the second quarter. Nisa Investment Advisors LLC now owns 769 shares of the company's stock worth $33,000 after purchasing an additional 383 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Apogee Therapeutics during the first quarter worth approximately $42,000. AlphaQuest LLC acquired a new stake in Apogee Therapeutics during the first quarter worth approximately $43,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Apogee Therapeutics by 18.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,779 shares of the company's stock worth $77,000 after purchasing an additional 272 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in Apogee Therapeutics by 34.7% during the second quarter. BNP Paribas Financial Markets now owns 3,649 shares of the company's stock worth $158,000 after purchasing an additional 941 shares in the last quarter. Institutional investors and hedge funds 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.

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