Apogee Therapeutics, Inc. (NASDAQ:APGE) Receives $78.50 Average PT from Brokerages

Apogee Therapeutics, Inc. (NASDAQ:APGE) has earned a consensus rating of “Buy” from the eight research firms that are covering the company, MarketBeat reports. Eight analysts have rated the stock with a buy recommendation. The average 1-year price target among analysts that have covered the stock in the last year is $81.13.

Several equities analysts recently weighed in on the company. Canaccord Genuity Group assumed coverage on Apogee Therapeutics in a research note on Monday. They issued a “buy” rating and a $89.00 price target for the company. Wedbush restated an “outperform” rating and issued a $87.00 price target on shares of Apogee Therapeutics in a research note on Tuesday, November 12th. Finally, Canaccord Genuity Group began coverage on Apogee Therapeutics in a research note on Monday. They issued a “buy” rating and a $89.00 price target for the company.

Apogee Therapeutics Stock Up 0.9 %

Shares of Apogee Therapeutics stock opened at $43.85 on Tuesday. Apogee Therapeutics has a twelve month low of $16.39 and a twelve month high of $72.29. The business has a 50-day moving average price of $54.14 and a 200 day moving average price of $48.63. The firm has a market cap of $1.97 billion, a PE ratio of -18.12 and a beta of 2.93.

Insiders Place Their Bets

In related news, insider Carl Dambkowski sold 6,665 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $47.56, for a total value of $316,987.40. Following the completion of the sale, the insider now owns 280,793 shares of the company’s stock, valued at approximately $13,354,515.08. This trade represents a 2.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Thomas Henderson sold 40,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $47.62, for a total value of $1,904,800.00. Following the completion of the sale, the chief executive officer now directly owns 1,394,487 shares of the company’s stock, valued at approximately $66,405,470.94. This represents a 2.79 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 114,995 shares of company stock worth $6,128,295. Corporate insiders own 36.10% of the company’s stock.

Institutional Investors Weigh In On Apogee Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Arizona State Retirement System grew its position in Apogee Therapeutics by 4.5% in the second quarter. Arizona State Retirement System now owns 5,993 shares of the company’s stock worth $236,000 after acquiring an additional 258 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Apogee Therapeutics by 21.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,628 shares of the company’s stock worth $94,000 after acquiring an additional 285 shares during the period. EntryPoint Capital LLC grew its position in Apogee Therapeutics by 44.7% in the first quarter. EntryPoint Capital LLC now owns 1,997 shares of the company’s stock worth $133,000 after acquiring an additional 617 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Apogee Therapeutics in the third quarter worth approximately $71,000. Finally, Principal Financial Group Inc. grew its position in Apogee Therapeutics by 26.3% in the second quarter. Principal Financial Group Inc. now owns 6,442 shares of the company’s stock worth $253,000 after acquiring an additional 1,340 shares during the period. Institutional investors and hedge funds own 79.04% of the company’s stock.

Apogee Therapeutics Company Profile

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.