Apogee Therapeutics (NASDAQ:APGE) Shares Up 5.3% - What's Next?

Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE - Get Free Report) shot up 5.3% on Friday . The stock traded as high as $43.55 and last traded at $44.06. 475,079 shares were traded during mid-day trading, a decline of 13% from the average session volume of 548,824 shares. The stock had previously closed at $41.86.

Analysts Set New Price Targets

Several brokerages recently issued reports on APGE. Citigroup began coverage on Apogee Therapeutics in a report on Thursday, March 13th. They set a "buy" rating and a $95.00 price objective for the company. Wedbush reaffirmed an "outperform" rating and set a $90.00 price objective on shares of Apogee Therapeutics in a report on Tuesday, March 11th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Apogee Therapeutics has an average rating of "Buy" and an average price target of $94.60.

Apogee Therapeutics Trading Up 3.1%

The business has a 50-day moving average price of $36.97 and a two-hundred day moving average price of $39.48. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of -17.78 and a beta of 1.38.

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 for the quarter, beating analysts' consensus estimates of ($1.19) by $0.24. On average, equities research analysts predict that Apogee Therapeutics, Inc. will post -3.09 earnings per share for the current fiscal year.

Insider Activity at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 2,725 shares of Apogee Therapeutics stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $36.96, for a total value of $100,716.00. Following the sale, the insider now owns 241,723 shares of the company's stock, valued at $8,934,082.08. This trade represents a 1.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 9,310 shares of company stock worth $337,944 over the last 90 days. Insiders own 42.77% of the company's stock.

Hedge Funds Weigh In On Apogee Therapeutics

A number of institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Apogee Therapeutics by 2.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,529 shares of the company's stock worth $921,000 after acquiring an additional 694 shares during the period. GF Fund Management CO. LTD. bought a new stake in Apogee Therapeutics during the fourth quarter worth $43,000. Arizona State Retirement System lifted its stake in Apogee Therapeutics by 17.3% during the fourth quarter. Arizona State Retirement System now owns 6,517 shares of the company's stock worth $295,000 after purchasing an additional 960 shares during the last quarter. New York State Common Retirement Fund lifted its stake in Apogee Therapeutics by 8.9% during the fourth quarter. New York State Common Retirement Fund now owns 12,187 shares of the company's stock worth $552,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Granahan Investment Management LLC lifted its stake in Apogee Therapeutics by 1.2% during the fourth quarter. Granahan Investment Management LLC now owns 92,854 shares of the company's stock worth $4,206,000 after purchasing an additional 1,097 shares during 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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