Apogee Therapeutics (NASDAQ:APGE) Shares Up 3.3%

Apogee Therapeutics, Inc. (NASDAQ:APGE) shares shot up 3.3% during trading on Wednesday . The company traded as high as $52.53 and last traded at $52.34. 12,165 shares changed hands during trading, a decline of 98% from the average session volume of 635,828 shares. The stock had previously closed at $50.66.

Analysts Set New Price Targets

A number of brokerages have commented on APGE. Jefferies Financial Group lifted their price target on Apogee Therapeutics from $37.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Guggenheim upped their target price on Apogee Therapeutics from $44.00 to $91.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Wedbush restated an “outperform” rating and issued a $87.00 target price (up previously from $40.00) on shares of Apogee Therapeutics in a research note on Tuesday, March 5th. Finally, Stifel Nicolaus upped their target price on Apogee Therapeutics from $46.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $71.83.

Apogee Therapeutics Trading Down 6.1 %

The business has a fifty day simple moving average of $53.04 and a 200 day simple moving average of $34.13.

Apogee Therapeutics (NASDAQ:APGE) last announced its earnings results on Tuesday, March 5th. The company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.13. Equities research analysts expect that Apogee Therapeutics, Inc. will post -2.67 EPS for the current fiscal year.

Hedge Funds Weigh In On Apogee Therapeutics

A number of hedge funds have recently made changes to their positions in APGE. Amalgamated Bank acquired a new stake in shares of Apogee Therapeutics in the third quarter valued at approximately $52,000. Legal & General Group Plc purchased a new position in shares of Apogee Therapeutics during the third quarter worth $68,000. UBS Group AG purchased a new position in Apogee Therapeutics in the third quarter valued at $76,000. Virtus ETF Advisers LLC purchased a new position in Apogee Therapeutics in the fourth quarter valued at $111,000. Finally, Strs Ohio purchased a new position in Apogee Therapeutics in the third quarter valued at $87,000. 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.