Apogee Therapeutics (NASDAQ:APGE) Earns “Outperform” Rating from Wedbush

Apogee Therapeutics (NASDAQ:APGE)‘s stock had its “outperform” rating reissued by stock analysts at Wedbush in a report issued on Tuesday,RTT News reports. They presently have a $90.00 target price on the stock. Wedbush’s price target would indicate a potential upside of 147.16% from the company’s current price.

A number of other research firms have also recently issued reports on APGE. Guggenheim reiterated a “buy” rating on shares of Apogee Therapeutics in a report on Monday, February 10th. Canaccord Genuity Group initiated coverage on Apogee Therapeutics in a report on Monday, November 25th. They set a “buy” rating and a $89.00 price objective for the company. Finally, Canaccord Genuity Group began coverage on Apogee Therapeutics in a research note on Monday, November 25th. They issued a “buy” rating and a $89.00 target price on the stock. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $91.60.

Apogee Therapeutics Price Performance

Shares of Apogee Therapeutics stock traded down $1.13 during trading hours on Tuesday, hitting $36.41. The company’s stock had a trading volume of 294,788 shares, compared to its average volume of 492,265. Apogee Therapeutics has a 12 month low of $29.10 and a 12 month high of $72.29. The company has a market capitalization of $1.64 billion, a PE ratio of -15.00 and a beta of 2.46. The stock has a 50 day moving average of $38.78 and a 200 day moving average of $46.83.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly earnings results on Monday, March 3rd. The company reported ($1.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.94) by ($0.25). Equities analysts expect that Apogee Therapeutics will post -3.09 EPS for the current year.

Insider Buying and Selling

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 10,000 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $30.15, for a total value of $301,500.00. Following the completion of the sale, the chief executive officer now owns 1,292,987 shares in the company, valued at $38,983,558.05. This trade represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Carl Dambkowski sold 4,540 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $48.76, for a total value of $221,370.40. Following the transaction, the insider now directly owns 258,073 shares in the company, valued at approximately $12,583,639.48. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,735 shares of company stock worth $2,247,762. Corporate insiders own 36.10% of the company’s stock.

Institutional Investors Weigh In On Apogee Therapeutics

Several hedge funds have recently added to or reduced their stakes in APGE. Wellington Management Group LLP boosted its holdings in shares of Apogee Therapeutics by 35.7% during the 3rd quarter. Wellington Management Group LLP now owns 4,814,400 shares of the company’s stock worth $282,798,000 after buying an additional 1,267,451 shares during the period. Driehaus Capital Management LLC increased its stake in shares of Apogee Therapeutics by 2.8% during the fourth quarter. Driehaus Capital Management LLC now owns 2,605,310 shares of the company’s stock worth $118,021,000 after purchasing an additional 71,703 shares during the period. Alliancebernstein L.P. lifted its holdings in Apogee Therapeutics by 13.5% during the 4th quarter. Alliancebernstein L.P. now owns 1,355,185 shares of the company’s stock worth $61,390,000 after purchasing an additional 160,822 shares during the last quarter. Paradigm Biocapital Advisors LP boosted its stake in Apogee Therapeutics by 82.9% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 1,283,766 shares of the company’s stock valued at $58,155,000 after purchasing an additional 581,949 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in Apogee Therapeutics by 141.7% in the 4th quarter. Janus Henderson Group PLC now owns 1,135,100 shares of the company’s stock valued at $51,455,000 after buying an additional 665,543 shares in the last quarter. Institutional investors and hedge funds own 79.04% of the company’s stock.

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.