Apogee Therapeutics (NASDAQ:APGE) Shares Down 2.7%

Apogee Therapeutics, Inc. (NASDAQ:APGE) shares traded down 2.7% during mid-day trading on Wednesday . The stock traded as low as $36.88 and last traded at $37.16. 85,240 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 558,863 shares. The stock had previously closed at $38.21.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Stifel Nicolaus lifted their target price on Apogee Therapeutics from $46.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Bank of America initiated coverage on Apogee Therapeutics in a research note on Friday, May 10th. They issued a “buy” rating and a $80.00 target price on the stock. Guggenheim boosted their price target 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 set a $87.00 price target on shares of Apogee Therapeutics in a research note on Monday, May 13th. Finally, Jefferies Financial Group boosted their price target on Apogee Therapeutics from $37.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $73.00.

Apogee Therapeutics Trading Down 1.9 %

The stock has a fifty day moving average of $45.85 and a 200 day moving average of $44.48.

Apogee Therapeutics (NASDAQ:APGE) last released its earnings results on Monday, May 13th. The company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.04). Analysts expect that Apogee Therapeutics, Inc. will post -2.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of APGE. EntryPoint Capital LLC increased its position in shares of Apogee Therapeutics by 44.7% in the first quarter. EntryPoint Capital LLC now owns 1,997 shares of the company’s stock valued at $133,000 after buying an additional 617 shares in the last quarter. Kennedy Capital Management LLC acquired a new position in shares of Apogee Therapeutics in the 1st quarter valued at $212,000. Ameritas Investment Partners Inc. lifted its stake in shares of Apogee Therapeutics by 111.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 4,126 shares of the company’s stock valued at $274,000 after purchasing an additional 2,172 shares during the last quarter. Principal Financial Group Inc. acquired a new position in shares of Apogee Therapeutics in the 1st quarter valued at $339,000. Finally, Virtu Financial LLC acquired a new position in shares of Apogee Therapeutics in the 1st quarter valued at $362,000. 79.04% of the stock is owned by institutional investors and hedge funds.

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.