Apogee Therapeutics (NASDAQ:APGE) Coverage Initiated by Analysts at Canaccord Genuity Group

Equities research analysts at Canaccord Genuity Group began coverage on shares of Apogee Therapeutics (NASDAQ:APGE) in a research note issued on Monday,Benzinga reports. The brokerage set a “buy” rating and a $89.00 price target on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 104.79% from the stock’s previous close.

Several other research firms have also weighed in on APGE. Canaccord Genuity Group started coverage on shares of Apogee Therapeutics in a research report on Monday. They set a “buy” rating and a $89.00 price objective for the company. Wedbush reaffirmed an “outperform” rating and set a $87.00 price objective on shares of Apogee Therapeutics in a research note on Tuesday, November 12th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $81.13.

Apogee Therapeutics Trading Up 1.4 %

NASDAQ:APGE opened at $43.46 on Monday. Apogee Therapeutics has a twelve month low of $16.39 and a twelve month high of $72.29. The company has a 50-day moving average of $54.29 and a 200-day moving average of $48.70. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of -17.96 and a beta of 2.93.

Insider Transactions at Apogee Therapeutics

In related news, insider Carl Dambkowski sold 6,665 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $56.26, for a total value of $374,972.90. Following the transaction, the insider now owns 274,128 shares in the company, valued at approximately $15,422,441.28. This represents a 2.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael Thomas Henderson sold 40,000 shares of the 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 transaction, the chief executive officer now owns 1,394,487 shares in the company, valued at $66,405,470.94. This represents a 2.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 114,995 shares of company stock valued at $6,128,295 over the last three months. 36.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Apogee Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Apogee Therapeutics in the third quarter worth approximately $71,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Apogee Therapeutics by 21.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,628 shares of the company’s stock valued at $94,000 after purchasing an additional 285 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Apogee Therapeutics during the second quarter valued at approximately $143,000. Kennedy Capital Management LLC acquired a new position in Apogee Therapeutics during the first quarter valued at approximately $212,000. Finally, Wexford Capital LP acquired a new position in Apogee Therapeutics during the third quarter valued at approximately $230,000. Institutional investors and hedge funds 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.