Apogee Therapeutics, Inc. (NASDAQ:APGE - Get Free Report) shares traded up 5.3% during trading on Friday . The company traded as high as $43.55 and last traded at $44.06. 475,079 shares traded hands 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
A number of research analysts have issued reports on APGE shares. Citigroup initiated coverage on Apogee Therapeutics in a research note on Thursday, March 13th. They issued a "buy" rating and a $95.00 target price for the company. Wedbush restated an "outperform" rating and issued a $90.00 price target on shares of Apogee Therapeutics in a report on Tuesday, March 11th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $94.60.
Read Our Latest Stock Report on APGE
Apogee Therapeutics Stock Down 4.2%
The company has a market capitalization of $1.96 billion, a P/E ratio of -17.61 and a beta of 1.38. The business has a fifty day moving average price of $37.56 and a 200 day moving average price of $39.39.
Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last released its earnings results on Monday, May 12th. The company reported ($0.95) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.19) by $0.24. As a group, equities analysts forecast that Apogee Therapeutics, Inc. will post -3.09 earnings per share for the current year.
Insiders Place Their Bets
In other news, insider Carl Dambkowski sold 3,860 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $36.22, for a total value of $139,809.20. Following the transaction, the insider now owns 247,173 shares of the company's stock, valued at approximately $8,952,606.06. This represents a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 9,310 shares of company stock valued at $337,944 over the last 90 days. 42.77% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Apogee Therapeutics
Several institutional investors and hedge funds have recently made changes to their positions in the company. Rhumbline Advisers grew its position in Apogee Therapeutics by 3.2% during the first quarter. Rhumbline Advisers now owns 54,385 shares of the company's stock worth $2,032,000 after buying an additional 1,665 shares in the last quarter. Woodline Partners LP lifted its stake in Apogee Therapeutics by 4.5% during the first quarter. Woodline Partners LP now owns 1,061,053 shares of the company's stock worth $39,641,000 after purchasing an additional 45,445 shares during the last quarter. Octagon Capital Advisors LP bought a new stake in Apogee Therapeutics during the first quarter worth $399,752,000. Millennium Management LLC lifted its stake in Apogee Therapeutics by 100.0% during the first quarter. Millennium Management LLC now owns 260,335 shares of the company's stock worth $9,726,000 after purchasing an additional 130,164 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in 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 purchasing an additional 694 shares during the last quarter. Institutional investors and hedge funds own 79.04% of the company's stock.
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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