Apogee Therapeutics (NASDAQ:APGE) Stock Rating Reaffirmed by Wedbush

Wedbush reissued their outperform rating on shares of Apogee Therapeutics (NASDAQ:APGE - Free Report) in a report released on Monday morning, RTT News reports. The brokerage currently has a $87.00 price objective on the stock.

A number of other research analysts have also recently weighed in on APGE. Guggenheim boosted their price objective on shares of Apogee Therapeutics from $44.00 to $91.00 and gave the company a buy rating in a research report on Tuesday, March 5th. Jefferies Financial Group raised their price objective on shares of Apogee Therapeutics from $37.00 to $75.00 and gave the stock a buy rating in a research note on Wednesday, March 6th. Stifel Nicolaus upped their target price on Apogee Therapeutics from $46.00 to $95.00 and gave the company a buy rating in a research note on Tuesday, March 5th. Finally, Bank of America assumed coverage on Apogee Therapeutics in a research report on Friday. They set a buy rating and a $80.00 target price for the company. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of Buy and a consensus price target of $73.00.

Apogee Therapeutics Stock Performance

NASDAQ:APGE traded down $0.49 during trading hours on Monday, reaching $52.73. The stock had a trading volume of 296,291 shares, compared to its average volume of 572,624. Apogee Therapeutics has a 52 week low of $14.19 and a 52 week high of $72.29. The company has a 50 day moving average price of $58.05 and a two-hundred day moving average price of $38.06.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last released 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. As a group, equities analysts anticipate that Apogee Therapeutics will post -2.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Apogee Therapeutics

Hedge funds have recently modified their holdings of the business. FMR LLC purchased a new stake in Apogee Therapeutics during the third quarter valued at approximately $89,619,000. RTW Investments LP acquired a new position in shares of Apogee Therapeutics during the third quarter valued at about $45,637,000. RA Capital Management L.P. acquired a new stake in Apogee Therapeutics in the 3rd quarter worth approximately $42,129,000. Vanguard Group Inc. grew its position in Apogee Therapeutics by 60.7% during the 1st quarter. Vanguard Group Inc. now owns 1,868,666 shares of the company's stock worth $124,173,000 after purchasing an additional 705,795 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in Apogee Therapeutics by 0.3% during the 4th quarter. Wellington Management Group LLP now owns 1,591,478 shares of the company's stock valued at $44,358,000 after purchasing an additional 4,749 shares in the last quarter. 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.