Apogee Therapeutics’ (APGE) Buy Rating Reiterated at Guggenheim

Apogee Therapeutics (NASDAQ:APGE)‘s stock had its “buy” rating reissued by equities researchers at Guggenheim in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $116.00 target price on the stock. Guggenheim’s target price indicates a potential upside of 143.95% from the stock’s current price.

Other analysts also recently issued research reports about the company. Wedbush restated an “outperform” rating and issued a $90.00 price target on shares of Apogee Therapeutics in a research note on Tuesday, March 11th. Citigroup assumed coverage on Apogee Therapeutics in a research note on Thursday, March 13th. They issued a “buy” rating and a $95.00 target price on the stock. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Apogee Therapeutics has an average rating of “Buy” and an average price target of $95.80.

Apogee Therapeutics Price Performance

NASDAQ:APGE opened at $47.55 on Wednesday. The firm’s 50-day moving average price is $40.14 and its 200-day moving average price is $39.10. The company has a market capitalization of $2.19 billion, a PE ratio of -13.21 and a beta of 1.47. Apogee Therapeutics has a 1-year low of $26.20 and a 1-year high of $63.50.

Apogee Therapeutics (NASDAQ:APGE) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.95) EPS for the quarter, topping the consensus estimate of ($1.19) by $0.24. Equities analysts anticipate that Apogee Therapeutics will post -3.09 EPS for the current fiscal year.

Insider Activity

In other news, insider Carl Dambkowski sold 10,090 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $45.09, for a total transaction of $454,958.10. Following the sale, the insider owned 238,998 shares in the company, valued at $10,776,419.82. This represents a 4.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold a total of 15,540 shares of company stock valued at $653,093 in the last 90 days. Corporate insiders own 42.77% of the company’s stock.

Hedge Funds Weigh In On Apogee Therapeutics

A number of hedge funds have recently added to or reduced their stakes in APGE. Brooklyn Investment Group purchased a new stake in Apogee Therapeutics during the 1st quarter valued at $42,000. GF Fund Management CO. LTD. bought a new position in shares of Apogee Therapeutics during the fourth quarter valued at $43,000. AlphaQuest LLC purchased a new stake in shares of Apogee Therapeutics during the first quarter valued at $43,000. GAMMA Investing LLC boosted its position in shares of Apogee Therapeutics by 3,560.1% during the first quarter. GAMMA Investing LLC now owns 5,417 shares of the company’s stock valued at $202,000 after buying an additional 5,269 shares during the last quarter. Finally, Optimize Financial Inc bought a new stake in Apogee Therapeutics in the 4th quarter worth about $203,000. 79.04% of the stock is currently 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.