Apogee Therapeutics (NASDAQ:APGE) Given Buy Rating at Guggenheim

Guggenheim reaffirmed their buy rating on shares of Apogee Therapeutics (NASDAQ:APGE) in a research note released on Thursday morning,Benzinga reports.

Other analysts also recently issued reports about the stock. Wedbush boosted their price target on shares of Apogee Therapeutics from $87.00 to $90.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Canaccord Genuity Group initiated coverage on Apogee Therapeutics in a research report on Monday, November 25th. They set a “buy” rating and a $89.00 price objective for the company. Finally, Canaccord Genuity Group started coverage on shares of Apogee Therapeutics in a research note on Monday, November 25th. They issued a “buy” rating and a $89.00 target price on the stock. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, Apogee Therapeutics has an average rating of “Buy” and a consensus target price of $83.88.

Apogee Therapeutics Trading Down 9.1 %

Shares of Apogee Therapeutics stock opened at $44.32 on Thursday. The business’s fifty day moving average price is $51.63 and its 200 day moving average price is $48.30. The stock has a market capitalization of $2.00 billion, a P/E ratio of -18.31 and a beta of 2.33. Apogee Therapeutics has a twelve month low of $20.78 and a twelve month high of $72.29.

Insiders Place Their Bets

In other news, CEO Michael Thomas Henderson sold 15,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $46.58, for a total value of $698,700.00. Following the completion of the transaction, the chief executive officer now owns 1,324,487 shares in the company, valued at $61,694,604.46. The trade was a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Carl Dambkowski sold 6,665 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $56.26, for a total value of $374,972.90. Following the sale, the insider now owns 274,128 shares of the company’s stock, valued at approximately $15,422,441.28. This represents a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 89,995 shares of company stock valued at $4,912,264. 36.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Apogee Therapeutics

Several large investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Apogee Therapeutics during the third quarter valued at $71,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Apogee Therapeutics by 21.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,628 shares of the company’s stock worth $94,000 after acquiring an additional 285 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Apogee Therapeutics during the 2nd quarter worth $143,000. Wexford Capital LP purchased a new position in shares of Apogee Therapeutics during the 3rd quarter worth approximately $230,000. Finally, Arizona State Retirement System grew its position in shares of Apogee Therapeutics by 4.5% during the second quarter. Arizona State Retirement System now owns 5,993 shares of the company’s stock worth $236,000 after buying an additional 258 shares in the last quarter. 79.04% of the stock is owned by institutional investors.

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.