Apogee Therapeutics' (APGE) "Outperform" Rating Reiterated at Wedbush

Wedbush restated their outperform rating on shares of Apogee Therapeutics (NASDAQ:APGE - Free Report) in a research note released on Monday morning,RTT News reports. They currently have a $90.00 price target on the stock.

Other equities research analysts have also issued reports about the company. Citigroup began coverage on Apogee Therapeutics in a research report on Thursday, March 13th. They set a "buy" rating and a $95.00 price target on the stock. Guggenheim reiterated a "buy" rating and issued a $116.00 price objective on shares of Apogee Therapeutics in a research report on Wednesday, July 2nd. Finally, BTIG Research increased their price objective on Apogee Therapeutics from $100.00 to $115.00 and gave the company a "buy" rating in a research report on Monday. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Apogee Therapeutics presently has an average rating of "Buy" and a consensus price target of $99.00.

Apogee Therapeutics Price Performance

Shares of NASDAQ APGE traded down $8.22 during trading hours on Monday, hitting $39.24. 6,009,087 shares of the company's stock were exchanged, compared to its average volume of 587,187. Apogee Therapeutics has a 1-year low of $26.20 and a 1-year high of $76.39. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of -10.90 and a beta of 1.47. The company's 50-day moving average price is $40.38 and its 200-day moving average price is $38.95.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.95) earnings per share for the quarter, topping the consensus estimate of ($1.19) by $0.24. On average, research analysts expect that Apogee Therapeutics will post -3.09 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Carl Dambkowski sold 10,090 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $45.09, for a total value of $454,958.10. Following the sale, the insider directly owned 238,998 shares in the company, valued at $10,776,419.82. The trade was a 4.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 15,540 shares of company stock worth $653,093 in the last 90 days. Insiders own 42.77% of the company's stock.

Institutional Trading of Apogee Therapeutics

A number of institutional investors have recently modified their holdings of the company. Brooklyn Investment Group bought a new stake in Apogee Therapeutics during the first quarter worth about $42,000. GF Fund Management CO. LTD. bought a new stake in Apogee Therapeutics during the fourth quarter worth about $43,000. AlphaQuest LLC bought a new stake in Apogee Therapeutics during the first quarter worth about $43,000. GAMMA Investing LLC raised its holdings in Apogee Therapeutics by 3,560.1% during the first quarter. GAMMA Investing LLC now owns 5,417 shares of the company's stock worth $202,000 after acquiring an additional 5,269 shares in the last quarter. Finally, Optimize Financial Inc bought a new stake in Apogee Therapeutics during the fourth quarter worth about $203,000. 79.04% of the stock is currently owned by institutional investors.

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.