Apogee Therapeutics (NASDAQ:APGE) Shares Down 7.6% - Should You Sell?

Shares of Apogee Therapeutics Inc. (NASDAQ:APGE - Get Free Report) traded down 7.6% on Tuesday . The stock traded as low as $36.70 and last traded at $36.26. 792,265 shares traded hands during mid-day trading, an increase of 35% from the average session volume of 588,927 shares. The stock had previously closed at $39.24.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Wedbush restated an "outperform" rating and issued a $90.00 price target on shares of Apogee Therapeutics in a research note on Monday. Citigroup restated a "buy" rating on shares of Apogee Therapeutics in a research note on Monday. BTIG Research boosted their price target on Apogee Therapeutics from $100.00 to $115.00 and gave the stock a "buy" rating in a research note on Monday. Finally, Guggenheim restated a "buy" rating and issued a $116.00 price target on shares of Apogee Therapeutics in a research note on Wednesday, July 2nd. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $99.00.

Apogee Therapeutics Price Performance

The company has a market cap of $1.68 billion, a PE ratio of -10.11 and a beta of 1.47. The business has a 50-day moving average of $40.36 and a 200 day moving average of $38.93.

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

Insider Buying and Selling

In other Apogee Therapeutics news, insider Carl Dambkowski sold 10,090 shares of the company's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $45.09, for a total value of $454,958.10. Following the completion of the sale, the insider owned 238,998 shares in the company, valued at $10,776,419.82. This represents a 4.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold a total of 15,540 shares of company stock worth $653,093 in the last three months. 42.77% of the stock is currently owned by corporate insiders.

Institutional Trading of Apogee Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GF Fund Management CO. LTD. purchased a new stake in Apogee Therapeutics in the fourth quarter worth about $43,000. Brooklyn Investment Group purchased a new stake in Apogee Therapeutics in the first quarter worth about $42,000. AlphaQuest LLC purchased a new stake in Apogee Therapeutics in the first quarter worth about $43,000. Optimize Financial Inc purchased a new stake in Apogee Therapeutics in the fourth quarter worth about $203,000. Finally, Aigen Investment Management LP purchased a new stake in Apogee Therapeutics in the fourth quarter worth about $216,000. Hedge funds and other institutional investors 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.