Traders Purchase Large Volume of Put Options on Apogee Therapeutics (NASDAQ:APGE)

Apogee Therapeutics Inc. (NASDAQ:APGE - Get Free Report) saw unusually large options trading activity on Monday. Stock traders bought 3,810 put options on the company. This is an increase of 728% compared to the average daily volume of 460 put options.

Apogee Therapeutics Stock Up 4.2%

Shares of Apogee Therapeutics stock traded up $1.55 during trading on Thursday, reaching $38.57. 1,300,950 shares of the company were exchanged, compared to its average volume of 605,584. The business has a 50-day moving average price of $40.30 and a 200-day moving average price of $38.85. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of -10.71 and a beta of 1.47. Apogee Therapeutics has a twelve month low of $26.20 and a twelve month high of $63.50.

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, topping the consensus estimate of ($1.19) by $0.24. On average, equities research analysts forecast that Apogee Therapeutics will post -3.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Activity at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 10,090 shares of Apogee Therapeutics stock in a transaction that occurred 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 sale, the insider directly owned 238,998 shares of the company's stock, valued at approximately $10,776,419.82. The trade was a 4.05% 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. Over the last ninety days, insiders have sold 15,540 shares of company stock worth $653,093. 42.77% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Apogee Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in APGE. Rhumbline Advisers lifted its stake in Apogee Therapeutics by 3.2% in the first quarter. Rhumbline Advisers now owns 54,385 shares of the company's stock valued at $2,032,000 after buying an additional 1,665 shares in the last quarter. Woodline Partners LP boosted its position in shares of 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 buying an additional 45,445 shares during the period. Octagon Capital Advisors LP bought a new stake in Apogee Therapeutics in the 1st quarter valued at approximately $399,752,000. Millennium Management LLC boosted its position in Apogee Therapeutics by 100.0% during the 1st quarter. Millennium Management LLC now owns 260,335 shares of the company's stock worth $9,726,000 after acquiring an additional 130,164 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Apogee Therapeutics by 2.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,529 shares of the company's stock valued at $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.

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.