Apogee Therapeutics (NASDAQ:APGE) Trading Down 7.6% - Time to Sell?

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

Analyst Ratings Changes

APGE has been the topic of several research analyst reports. Citigroup reissued a "buy" rating on shares of Apogee Therapeutics in a research note on Monday. Guggenheim reissued a "buy" rating and set a $116.00 price target on shares of Apogee Therapeutics in a research note on Wednesday, July 2nd. BTIG Research upped their target price on Apogee Therapeutics from $100.00 to $115.00 and gave the company a "buy" rating in a research note on Monday. Finally, Wedbush reaffirmed an "outperform" rating and issued a $90.00 target price on shares of Apogee Therapeutics in a research note on Monday. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Apogee Therapeutics presently has an average rating of "Buy" and an average target price of $99.00.

Apogee Therapeutics Trading Up 1.7%

The business has a 50 day moving average of $40.36 and a 200-day moving average of $38.93. The stock has a market cap of $1.70 billion, a PE ratio of -10.28 and a beta of 1.47.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last posted its 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. On average, equities research analysts anticipate that Apogee Therapeutics Inc. will post -3.09 EPS for the current fiscal year.

Insider Buying and Selling at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 10,090 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $45.09, for a total transaction of $454,958.10. Following the transaction, the insider owned 238,998 shares of the company's stock, valued at $10,776,419.82. This represents a 4.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders sold 15,540 shares of company stock worth $653,093. Corporate insiders own 42.77% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Brooklyn Investment Group purchased a new position in shares of Apogee Therapeutics during the 1st quarter worth $42,000. GF Fund Management CO. LTD. purchased a new position in shares of Apogee Therapeutics during the 4th quarter worth $43,000. AlphaQuest LLC acquired a new stake in shares of Apogee Therapeutics during the 1st quarter worth $43,000. GAMMA Investing LLC increased its holdings in shares of Apogee Therapeutics by 3,560.1% during the 1st quarter. GAMMA Investing LLC now owns 5,417 shares of the company's stock worth $202,000 after buying an additional 5,269 shares during the last quarter. Finally, Optimize Financial Inc acquired a new stake in shares of Apogee Therapeutics during the 4th quarter worth $203,000. Hedge funds and other institutional investors own 79.04% of the company's stock.

About Apogee Therapeutics

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.