Apogee Therapeutics’ (APGE) Buy Rating Reaffirmed at Guggenheim

Apogee Therapeutics (NASDAQ:APGEGet Free Report)‘s stock had its “buy” rating reiterated by Guggenheim in a report issued on Monday,Benzinga reports.

Several other analysts have also recently weighed in on APGE. Canaccord Genuity Group began coverage on shares of Apogee Therapeutics in a research note on Monday, November 25th. They issued a “buy” rating and a $89.00 price target for the company. Canaccord Genuity Group began coverage on shares of Apogee Therapeutics in a report on Monday, November 25th. They set a “buy” rating and a $89.00 target price on the stock. Finally, Wedbush upped their target price on shares of Apogee Therapeutics from $87.00 to $90.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $89.71.

Read Our Latest Report on APGE

Apogee Therapeutics Price Performance

Shares of APGE stock opened at $39.22 on Monday. The stock’s fifty day moving average price is $44.25 and its 200 day moving average price is $48.52. Apogee Therapeutics has a 1-year low of $33.14 and a 1-year high of $72.29. The company has a market cap of $1.77 billion, a price-to-earnings ratio of -16.21 and a beta of 2.18.

Apogee Therapeutics (NASDAQ:APGEGet Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.13). As a group, equities research analysts anticipate that Apogee Therapeutics will post -3.09 earnings per share for the current year.

Insider Activity at Apogee Therapeutics

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 15,000 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $46.58, for a total transaction of $698,700.00. Following the sale, the chief executive officer now owns 1,324,487 shares in the company, valued at approximately $61,694,604.46. This represents a 1.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Carl Dambkowski sold 6,665 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $46.07, for a total transaction of $307,056.55. Following the completion of the transaction, the insider now owns 260,798 shares in the company, valued at approximately $12,014,963.86. This trade represents a 2.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,810 shares of company stock valued at $2,903,556 in the last three months. 36.10% of the stock is currently owned by company insiders.

Institutional Trading of Apogee Therapeutics

Hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Apogee Therapeutics during the 3rd quarter worth $71,000. Mirae Asset Global Investments Co. Ltd. grew its holdings 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 valued at $94,000 after purchasing an additional 285 shares during the period. Aigen Investment Management LP purchased a new stake in shares of Apogee Therapeutics during the 4th quarter valued at $216,000. Wexford Capital LP acquired a new stake in shares of Apogee Therapeutics during the 3rd quarter worth $230,000. Finally, Arizona State Retirement System raised its position in shares of Apogee Therapeutics by 17.3% in the 4th quarter. Arizona State Retirement System now owns 6,517 shares of the company’s stock worth $295,000 after buying an additional 960 shares during the period. Institutional investors and hedge funds own 79.04% of the company’s stock.

Apogee Therapeutics Company Profile

(Get Free Report)

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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Analyst Recommendations for Apogee Therapeutics (NASDAQ:APGE)

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