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

Wedbush restated their outperform rating on shares of Apogee Therapeutics (NASDAQ:APGE) in a research note issued to investors on Tuesday,RTT News reports. They currently have a $87.00 price target on the stock. Wedbush also issued estimates for Apogee Therapeutics’ Q4 2024 earnings at ($0.97) EPS, FY2024 earnings at ($3.10) EPS, Q1 2025 earnings at ($0.99) EPS, Q2 2025 earnings at ($1.01) EPS, Q3 2025 earnings at ($0.95) EPS, Q4 2025 earnings at ($0.94) EPS, FY2025 earnings at ($3.90) EPS, FY2026 earnings at ($3.97) EPS, FY2027 earnings at ($4.35) EPS and FY2028 earnings at ($5.69) EPS.

Apogee Therapeutics Stock Down 7.4 %

Shares of APGE opened at $47.25 on Tuesday. Apogee Therapeutics has a 52-week low of $16.39 and a 52-week high of $72.29. The firm’s fifty day moving average is $54.78 and its two-hundred day moving average is $49.00. The stock has a market cap of $2.13 billion, a PE ratio of -19.52 and a beta of 2.93.

Insider Buying and Selling at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 6,665 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $59.12, for a total transaction of $394,034.80. Following the sale, the insider now directly owns 267,463 shares in the company, valued at $15,812,412.56. This represents a 2.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Thomas Henderson sold 15,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $59.22, for a total transaction of $888,300.00. Following the sale, the chief executive officer now owns 1,339,487 shares in the company, valued at $79,324,420.14. This trade represents a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 120,995 shares of company stock valued at $6,417,855 over the last 90 days. 36.10% of the stock is owned by insiders.

Institutional Trading of Apogee Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC increased its stake in shares of Apogee Therapeutics by 369.2% during the third quarter. Barclays PLC now owns 365,046 shares of the company’s stock worth $21,443,000 after buying an additional 287,243 shares during the period. Wellington Management Group LLP increased its stake in shares of Apogee Therapeutics by 35.7% during the third 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. Wexford Capital LP purchased a new stake in shares of Apogee Therapeutics during the third quarter worth approximately $230,000. Point72 DIFC Ltd increased its stake in shares of Apogee Therapeutics by 14.5% during the third quarter. Point72 DIFC Ltd now owns 19,207 shares of the company’s stock worth $1,128,000 after buying an additional 2,428 shares during the period. Finally, Point72 Asset Management L.P. increased its stake in shares of Apogee Therapeutics by 162.7% during the third quarter. Point72 Asset Management L.P. now owns 707,268 shares of the company’s stock worth $41,545,000 after buying an additional 438,036 shares during the period. 79.04% of the stock is currently owned by hedge funds and other institutional investors.

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.