Apogee Therapeutics (NASDAQ:APGE) Stock Rating Reaffirmed by Wedbush

Wedbush restated their outperform rating on shares of Apogee Therapeutics (NASDAQ:APGE) in a research report sent to investors on Friday morning, Benzinga reports. Wedbush currently has a $87.00 price objective on the stock.

Apogee Therapeutics Trading Up 2.5 %

Shares of NASDAQ:APGE opened at $53.23 on Friday. The business has a 50-day moving average price of $52.69 and a 200 day moving average price of $48.49. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of -10.14 and a beta of 2.75. Apogee Therapeutics has a 12-month low of $14.19 and a 12-month high of $72.29.

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). As a group, equities research analysts predict that Apogee Therapeutics will post -2.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 6,665 shares of Apogee Therapeutics stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $56.26, for a total value of $374,972.90. Following the completion of the transaction, the insider now directly owns 274,128 shares of the company’s stock, valued at $15,422,441.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Apogee Therapeutics news, insider Carl Dambkowski sold 6,665 shares of Apogee Therapeutics stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $56.26, for a total value of $374,972.90. Following the completion of the transaction, the insider now directly owns 274,128 shares of the company’s stock, valued at $15,422,441.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael Thomas Henderson sold 40,000 shares of Apogee Therapeutics stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $40.62, for a total value of $1,624,800.00. Following the completion of the transaction, the chief executive officer now directly owns 1,434,487 shares of the company’s stock, valued at approximately $58,268,861.94. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 146,665 shares of company stock valued at $7,058,635 in the last three months. 36.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Apogee Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. boosted its stake in shares of Apogee Therapeutics by 63.8% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 8,655 shares of the company’s stock valued at $508,000 after buying an additional 3,371 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Apogee Therapeutics by 21.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,628 shares of the company’s stock valued at $94,000 after buying an additional 285 shares during the period. Waypoint Capital Advisors LLC purchased a new position in shares of Apogee Therapeutics in the 3rd quarter valued at about $36,835,000. Handelsbanken Fonder AB boosted its stake in shares of Apogee Therapeutics by 25.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 8,800 shares of the company’s stock valued at $517,000 after buying an additional 1,800 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of Apogee Therapeutics in the 3rd quarter valued at about $475,000. Hedge funds and other institutional investors 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.