Short Interest in Apogee Therapeutics, Inc. (NASDAQ:APGE) Expands By 50.8%

Apogee Therapeutics, Inc. (NASDAQ:APGE - Get Free Report) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 4,600,000 shares, a growth of 50.8% from the March 15th total of 3,050,000 shares. Based on an average daily trading volume, of 680,700 shares, the short-interest ratio is presently 6.8 days. Approximately 13.1% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Apogee Therapeutics by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 1,162,871 shares of the company's stock valued at $32,491,000 after purchasing an additional 41,107 shares in the last quarter. Wellington Management Group LLP increased its holdings in Apogee Therapeutics by 0.3% in the fourth quarter. Wellington Management Group LLP now owns 1,591,478 shares of the company's stock valued at $44,358,000 after buying an additional 4,749 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Apogee Therapeutics by 177.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 27,751 shares of the company's stock valued at $775,000 after buying an additional 17,749 shares during the last quarter. American International Group Inc. raised its stake in Apogee Therapeutics by 4.8% in the fourth quarter. American International Group Inc. now owns 10,203 shares of the company's stock valued at $285,000 after buying an additional 471 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Apogee Therapeutics by 25.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 770,681 shares of the company's stock worth $21,534,000 after buying an additional 154,731 shares during the last quarter. Hedge funds and other institutional investors own 79.04% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Wedbush reissued an "outperform" rating and issued a $87.00 price target (up from $40.00) on shares of Apogee Therapeutics in a report on Tuesday, March 5th. Jefferies Financial Group increased their price target on Apogee Therapeutics from $37.00 to $75.00 and gave the stock a "buy" rating in a research report on Wednesday, March 6th. BTIG Research began coverage on shares of Apogee Therapeutics in a research note on Wednesday, December 20th. They issued a "buy" rating and a $43.00 price target on the stock. Stifel Nicolaus boosted their target price on Apogee Therapeutics from $46.00 to $95.00 and gave the stock a "buy" rating in a report on Tuesday, March 5th. Finally, Guggenheim lifted their target price on shares of Apogee Therapeutics from $44.00 to $91.00 and gave the stock a "buy" rating in a research note on Tuesday, March 5th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Apogee Therapeutics currently has an average rating of "Buy" and an average target price of $71.83.

Apogee Therapeutics Stock Performance

APGE stock traded down $2.99 during midday trading on Friday, hitting $55.05. The company's stock had a trading volume of 583,616 shares, compared to its average volume of 652,424. Apogee Therapeutics has a 52-week low of $14.19 and a 52-week high of $72.29. The firm has a 50-day simple moving average of $51.89 and a 200-day simple moving average of $33.30.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last posted its quarterly earnings results on Tuesday, March 5th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.45) by $0.13. On average, research analysts predict that Apogee Therapeutics will post -2.67 EPS for the current fiscal year.

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.