Apogee Therapeutics (NASDAQ:APGE) Posts Quarterly Earnings Results, Misses Estimates By $0.25 EPS

Apogee Therapeutics (NASDAQ:APGE) issued its quarterly earnings results on Monday. The company reported ($1.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.94) by ($0.25), Zacks reports.

Apogee Therapeutics Stock Performance

Shares of NASDAQ:APGE opened at $31.44 on Monday. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of -12.99 and a beta of 2.18. The business has a 50-day simple moving average of $40.33 and a two-hundred day simple moving average of $47.42. Apogee Therapeutics has a fifty-two week low of $29.64 and a fifty-two week high of $72.29.

Insider Activity

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 15,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $46.58, for a total value of $698,700.00. Following the transaction, the chief executive officer now owns 1,324,487 shares of the company’s stock, valued at approximately $61,694,604.46. This represents a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Carl Dambkowski sold 6,665 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $46.07, for a total value of $307,056.55. Following the completion of the transaction, the insider now directly owns 260,798 shares in the company, valued at $12,014,963.86. The trade was a 2.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 63,810 shares of company stock valued at $2,903,556 in the last 90 days. 36.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on APGE shares. Canaccord Genuity Group started coverage on Apogee Therapeutics in a research note on Monday, November 25th. They set a “buy” rating and a $89.00 price objective for the company. Guggenheim reaffirmed a “buy” rating on shares of Apogee Therapeutics in a research report on Monday, February 10th. Canaccord Genuity Group assumed coverage on shares of Apogee Therapeutics in a research report on Monday, November 25th. They set a “buy” rating and a $89.00 price objective on the stock. Finally, Wedbush raised their price objective on shares of Apogee Therapeutics from $87.00 to $90.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, Apogee Therapeutics presently has an average rating of “Buy” and a consensus target price of $89.71.

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.