Apogee Therapeutics (NASDAQ:APGE) Trading Up 3.3%

Apogee Therapeutics, Inc. (NASDAQ:APGE - Get Free Report)'s stock price was up 3.3% during trading on Wednesday . The company traded as high as $52.53 and last traded at $52.34. Approximately 12,165 shares traded hands during trading, a decline of 98% from the average daily volume of 635,828 shares. The stock had previously closed at $50.66.

Analysts Set New Price Targets

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

Apogee Therapeutics Price Performance

The company has a 50-day moving average of $52.52 and a 200 day moving average of $33.91.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last announced its earnings results on Tuesday, March 5th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.13. As a group, analysts expect that Apogee Therapeutics, Inc. will post -2.67 EPS for the current year.

Institutional Trading of Apogee Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Apogee Therapeutics by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 1,162,871 shares of the company's stock valued at $32,491,000 after acquiring an additional 41,107 shares in the last quarter. Wellington Management Group LLP raised its stake 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 worth $44,358,000 after buying an additional 4,749 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Apogee Therapeutics by 177.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 27,751 shares of the company's stock worth $775,000 after buying an additional 17,749 shares in 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 worth $285,000 after buying an additional 471 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Apogee Therapeutics by 25.1% in the fourth 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 in the last quarter. 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.