Apogee Therapeutics (NASDAQ:APGE) Stock Price Up 5.2%

Apogee Therapeutics, Inc. (NASDAQ:APGE)’s share price traded up 5.2% during trading on Tuesday . The company traded as high as $49.96 and last traded at $49.96. 46,632 shares were traded during mid-day trading, a decline of 91% from the average session volume of 514,914 shares. The stock had previously closed at $47.51.

Analysts Set New Price Targets

Separately, Wedbush reissued an “outperform” rating and set a $87.00 target price on shares of Apogee Therapeutics in a report on Monday, May 13th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Apogee Therapeutics currently has a consensus rating of “Buy” and an average target price of $78.50.

Apogee Therapeutics Trading Up 4.2 %

The firm’s 50-day simple moving average is $45.98 and its 200 day simple moving average is $49.27. The stock has a market cap of $2.23 billion, a P/E ratio of -9.52 and a beta of 2.75.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.60) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.60). On average, analysts anticipate that Apogee Therapeutics, Inc. will post -2.57 EPS for the current year.

Insider Activity

In related news, insider Carl Dambkowski sold 5,995 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $37.60, for a total value of $225,412.00. Following the completion of the sale, the insider now owns 294,793 shares of the company’s stock, valued at $11,084,216.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Carl Dambkowski sold 5,995 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $37.60, for a total transaction of $225,412.00. Following the sale, the insider now owns 294,793 shares of the company’s stock, valued at $11,084,216.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael Thomas Henderson sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $47.62, for a total value of $1,904,800.00. Following the completion of the sale, the chief executive officer now owns 1,394,487 shares of the company’s stock, valued at $66,405,470.94. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 120,995 shares of company stock valued at $5,218,774. Company insiders own 36.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Perceptive Advisors LLC lifted its holdings in Apogee Therapeutics by 2.2% in the 2nd quarter. Perceptive Advisors LLC now owns 2,105,636 shares of the company’s stock valued at $82,857,000 after acquiring an additional 45,241 shares during the last quarter. Driehaus Capital Management LLC lifted its stake in Apogee Therapeutics by 2.6% during the second quarter. Driehaus Capital Management LLC now owns 2,117,870 shares of the company’s stock valued at $83,338,000 after purchasing an additional 54,107 shares during the last quarter. Dark Forest Capital Management LP boosted its holdings in Apogee Therapeutics by 78.3% during the second quarter. Dark Forest Capital Management LP now owns 14,083 shares of the company’s stock worth $554,000 after buying an additional 6,186 shares in the last quarter. AQR Capital Management LLC bought a new stake in Apogee Therapeutics during the second quarter worth approximately $454,000. Finally, Affinity Asset Advisors LLC grew its position in Apogee Therapeutics by 41.2% in the second quarter. Affinity Asset Advisors LLC now owns 836,283 shares of the company’s stock worth $32,908,000 after buying an additional 244,190 shares during the last quarter. 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.