Apogee Therapeutics (NASDAQ:APGE) Trading Up 7%

Apogee Therapeutics, Inc. (NASDAQ:APGE)’s share price shot up 7% during trading on Monday . The stock traded as high as $43.84 and last traded at $43.32. 256,850 shares were traded during mid-day trading, a decline of 52% from the average session volume of 536,678 shares. The stock had previously closed at $40.50.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Bank of America assumed 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. Wedbush reaffirmed an “outperform” rating and issued a $87.00 target price on shares of Apogee Therapeutics in a report on Monday, May 13th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $73.00.

Apogee Therapeutics Trading Down 0.4 %

The company’s 50 day simple moving average is $43.02 and its 200-day simple moving average is $47.57. The firm has a market cap of $2.59 billion and a P/E ratio of -8.42.

Apogee Therapeutics (NASDAQ:APGE) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.60) earnings per share for the quarter, meeting the consensus estimate of ($0.60). On average, sell-side analysts anticipate that Apogee Therapeutics, Inc. will post -2.64 earnings per share for the current year.

Insider Activity

In other news, insider Carl Dambkowski sold 7,335 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $40.67, for a total value of $298,314.45. Following the transaction, the insider now directly owns 287,458 shares in the company, valued at approximately $11,690,916.86. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Carl Dambkowski sold 7,335 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $40.67, for a total value of $298,314.45. Following the transaction, the insider now owns 287,458 shares in the company, valued at approximately $11,690,916.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Thomas Henderson sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $37.26, for a total transaction of $558,900.00. Following the completion of the transaction, the chief executive officer now directly owns 1,474,487 shares in the company, valued at approximately $54,939,385.62. The disclosure for this sale can be found here. Insiders have sold 68,330 shares of company stock valued at $2,707,426 in the last ninety days. 36.10% of the stock is currently owned by company insiders.

Institutional Trading of Apogee Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of APGE. Arizona State Retirement System lifted its position in shares of Apogee Therapeutics by 4.5% during the 2nd quarter. Arizona State Retirement System now owns 5,993 shares of the company’s stock valued at $236,000 after buying an additional 258 shares in the last quarter. EntryPoint Capital LLC boosted 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 worth $133,000 after purchasing an additional 617 shares during the period. Principal Financial Group Inc. increased its stake in shares of Apogee Therapeutics by 26.3% in the second quarter. Principal Financial Group Inc. now owns 6,442 shares of the company’s stock worth $253,000 after purchasing an additional 1,340 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its stake in shares of Apogee Therapeutics by 28.8% in the first quarter. China Universal Asset Management Co. Ltd. now owns 7,155 shares of the company’s stock worth $475,000 after purchasing an additional 1,600 shares in the last quarter. Finally, Ameritas Investment Partners Inc. raised its position in shares of Apogee Therapeutics by 111.2% during 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 period. Hedge funds and other institutional investors own 79.04% of the company’s stock.

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.