Apogee Therapeutics (NASDAQ:APGE) Sees Large Volume Increase

Apogee Therapeutics, Inc. (NASDAQ:APGE - Get Free Report) shares saw unusually-high trading volume on Tuesday . Approximately 893,415 shares changed hands during trading, an increase of 56% from the previous session's volume of 574,024 shares.The stock last traded at $53.90 and had previously closed at $52.73.

Analyst Ratings Changes

A number of brokerages recently weighed in on APGE. Stifel Nicolaus boosted their price target on shares of Apogee Therapeutics from $46.00 to $95.00 and gave the company a "buy" rating in a research report on Tuesday, March 5th. Jefferies Financial Group increased their price objective on Apogee Therapeutics from $37.00 to $75.00 and gave the company a "buy" rating in a report on Wednesday, March 6th. Bank of America assumed coverage on shares of Apogee Therapeutics in a report on Friday. They issued a "buy" rating and a $80.00 target price on the stock. Guggenheim increased their price target 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. Finally, Wedbush reiterated an "outperform" rating and set a $87.00 price target on shares of Apogee Therapeutics in a research note on Monday. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $73.00.

Apogee Therapeutics Stock Up 2.4 %

The company's 50 day moving average price is $58.05 and its 200 day moving average price is $38.06.

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

Institutional Trading of Apogee Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. EntryPoint Capital LLC lifted its stake in shares of Apogee Therapeutics by 44.7% in the first quarter. EntryPoint Capital LLC now owns 1,997 shares of the company's stock valued at $133,000 after purchasing an additional 617 shares during the period. American International Group Inc. lifted its stake in shares of Apogee Therapeutics by 99.9% in the first quarter. American International Group Inc. now owns 20,391 shares of the company's stock valued at $1,355,000 after purchasing an additional 10,188 shares during the period. Ameritas Investment Partners Inc. increased its holdings in Apogee Therapeutics by 111.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,126 shares of the company's stock valued at $274,000 after acquiring an additional 2,172 shares in the last quarter. Vanguard Group Inc. increased its holdings in Apogee Therapeutics by 60.7% during the 1st quarter. Vanguard Group Inc. now owns 1,868,666 shares of the company's stock valued at $124,173,000 after acquiring an additional 705,795 shares in the last quarter. Finally, ProShare Advisors LLC purchased a new position in Apogee Therapeutics during the 1st quarter valued at about $667,000. Institutional investors and hedge funds 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.

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