Apogee Therapeutics (NASDAQ:APGE) Given Buy Rating at Guggenheim

Guggenheim restated their buy rating on shares of Apogee Therapeutics (NASDAQ:APGE - Free Report) in a research report report published on Wednesday,Benzinga reports. The brokerage currently has a $116.00 price objective on the stock.

APGE has been the subject of a number of other research reports. Wedbush reissued an "outperform" rating and issued a $90.00 price target on shares of Apogee Therapeutics in a research note on Tuesday, March 11th. Citigroup began coverage on shares of Apogee Therapeutics in a research report on Thursday, March 13th. They issued a "buy" rating and a $95.00 target price for the company. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $95.80.

Apogee Therapeutics Price Performance

NASDAQ:APGE traded up $3.23 during trading hours on Wednesday, hitting $47.55. The stock had a trading volume of 507,962 shares, compared to its average volume of 563,959. The company has a 50 day simple moving average of $40.14 and a two-hundred day simple moving average of $39.10. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of -13.21 and a beta of 1.47. Apogee Therapeutics has a one year low of $26.20 and a one year 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) EPS for the quarter, topping the consensus estimate of ($1.19) by $0.24. Equities research analysts anticipate that Apogee Therapeutics will post -3.09 earnings per share for the current year.

Insider Buying and Selling at Apogee Therapeutics

In related news, insider Carl Dambkowski sold 10,090 shares of Apogee Therapeutics stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $45.09, for a total value of $454,958.10. Following the transaction, the insider owned 238,998 shares in the company, valued at $10,776,419.82. This trade represents a 4.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have sold 15,540 shares of company stock valued at $653,093. Insiders own 42.77% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Ameriprise Financial Inc. bought a new stake in shares of Apogee Therapeutics in the 4th quarter valued at about $259,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Apogee Therapeutics by 4.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,835 shares of the company's stock worth $1,078,000 after purchasing an additional 931 shares during the period. Rhumbline Advisers lifted its position 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 purchasing an additional 1,665 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in Apogee Therapeutics in the fourth quarter valued at approximately $219,000. Finally, GAMMA Investing LLC boosted its stake in shares of Apogee Therapeutics by 3,560.1% during the first quarter. GAMMA Investing LLC now owns 5,417 shares of the company's stock valued at $202,000 after purchasing an additional 5,269 shares during the period. 79.04% of the stock is owned by institutional investors.

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.