Brokerages Set Apogee Therapeutics, Inc. (NASDAQ:APGE) Target Price at $92.17

Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) have been assigned a consensus recommendation of “Buy” from the six research firms that are currently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have issued a report on the stock in the last year is $92.17.

A number of analysts recently weighed in on APGE shares. Wedbush restated an “outperform” rating and set a $90.00 target price on shares of Apogee Therapeutics in a research note on Tuesday, March 11th. Guggenheim reissued a “buy” rating on shares of Apogee Therapeutics in a research report on Monday, February 10th. Finally, Citigroup initiated coverage on shares of Apogee Therapeutics in a research report on Thursday, March 13th. They set a “buy” rating and a $95.00 price objective for the company.

Apogee Therapeutics Stock Up 1.2 %

Apogee Therapeutics stock opened at $39.72 on Monday. Apogee Therapeutics has a 52-week low of $29.10 and a 52-week high of $68.21. The firm has a market cap of $1.79 billion, a PE ratio of -16.41 and a beta of 2.46. The company’s 50 day moving average is $37.57 and its two-hundred day moving average is $46.00.

Apogee Therapeutics (NASDAQ:APGE) last posted its quarterly earnings data on Monday, March 3rd. The company reported ($1.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.94) by ($0.25). On average, equities research analysts anticipate that Apogee Therapeutics will post -3.09 earnings per share for the current fiscal year.

Insider Activity at Apogee Therapeutics

In related news, CEO Michael Thomas Henderson sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $48.85, for a total transaction of $732,750.00. Following the transaction, the chief executive officer now owns 1,309,487 shares in the company, valued at $63,968,439.95. This trade represents a 1.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Carl Dambkowski sold 1,590 shares of Apogee Therapeutics stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $30.48, for a total value of $48,463.20. Following the transaction, the insider now directly owns 251,033 shares in the company, valued at approximately $7,651,485.84. This trade represents a 0.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,195 shares of company stock valued at $2,026,392 in the last ninety days. Insiders own 36.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of APGE. Natixis Advisors LLC purchased a new stake in shares of Apogee Therapeutics in the third quarter valued at about $879,000. Intech Investment Management LLC purchased a new stake in Apogee Therapeutics during the 3rd quarter valued at approximately $300,000. Charles Schwab Investment Management Inc. lifted its position in Apogee Therapeutics by 17.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 280,428 shares of the company’s stock worth $16,472,000 after acquiring an additional 41,686 shares during the period. FORA Capital LLC purchased a new position in shares of Apogee Therapeutics in the 3rd quarter valued at approximately $399,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Apogee Therapeutics in the third quarter valued at approximately $71,000. 79.04% of the stock is owned by hedge funds and other institutional investors.

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.