Brokerages Set Apogee Therapeutics Inc. (NASDAQ:APGE) Target Price at $94.60

Shares of Apogee Therapeutics Inc. (NASDAQ:APGE) have earned an average recommendation of “Buy” from the five analysts that are presently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $94.60.

A number of research firms have commented on APGE. Wedbush reaffirmed an “outperform” rating and set a $90.00 target price on shares of Apogee Therapeutics in a report on Tuesday, March 11th. Citigroup started coverage on shares of Apogee Therapeutics in a report on Thursday, March 13th. They issued a “buy” rating and a $95.00 target price on the stock.

Insider Buying and Selling at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 2,725 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $36.96, for a total transaction of $100,716.00. Following the transaction, the insider now owns 241,723 shares in the company, valued at $8,934,082.08. This represents a 1.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 9,310 shares of company stock valued at $337,944 in the last three months. 42.77% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Ameriprise Financial Inc. acquired a new stake in Apogee Therapeutics in the fourth quarter valued at approximately $259,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Apogee Therapeutics by 4.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,835 shares of the company’s stock worth $1,078,000 after purchasing an additional 931 shares during the period. BNP Paribas Financial Markets acquired a new stake in Apogee Therapeutics in the fourth quarter worth $219,000. Rhumbline Advisers grew its holdings in Apogee Therapeutics by 3.2% in the first quarter. Rhumbline Advisers now owns 54,385 shares of the company’s stock worth $2,032,000 after purchasing an additional 1,665 shares during the period. Finally, Deutsche Bank AG grew its holdings in shares of Apogee Therapeutics by 50.9% during the fourth quarter. Deutsche Bank AG now owns 31,739 shares of the company’s stock valued at $1,438,000 after buying an additional 10,709 shares during the last quarter. Institutional investors and hedge funds own 79.04% of the company’s stock.

Apogee Therapeutics Price Performance

APGE stock opened at $41.18 on Monday. The company has a 50 day moving average price of $37.95 and a 200 day moving average price of $39.42. Apogee Therapeutics has a fifty-two week low of $26.20 and a fifty-two week high of $63.50. The stock has a market capitalization of $1.90 billion, a PE ratio of -11.44 and a beta of 1.38.

Apogee Therapeutics (NASDAQ:APGE) 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. As a group, equities analysts expect that Apogee Therapeutics will post -3.09 earnings per share for the current fiscal year.

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.