Apogee Therapeutics (NASDAQ:APGE) Shares Up 5.5% – Time to Buy?

Apogee Therapeutics, Inc. (NASDAQ:APGE) shot up 5.5% during mid-day trading on Wednesday . The stock traded as high as $37.59 and last traded at $37.56. 134,217 shares changed hands during trading, a decline of 73% from the average session volume of 491,078 shares. The stock had previously closed at $35.61.

Analyst Upgrades and Downgrades

Several research analysts have commented on APGE shares. Wedbush restated an “outperform” rating and set a $90.00 price objective on shares of Apogee Therapeutics in a research report on Tuesday, March 11th. Guggenheim reissued a “buy” rating on shares of Apogee Therapeutics in a report on Monday, February 10th. Finally, Citigroup began coverage on Apogee Therapeutics in a research note on Thursday, March 13th. They issued a “buy” rating and a $95.00 price objective on the stock. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $92.17.

Apogee Therapeutics Trading Up 5.9 %

The business has a 50-day moving average of $37.50 and a two-hundred day moving average of $45.75. The firm has a market cap of $1.70 billion, a P/E ratio of -15.58 and a beta of 2.46.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly earnings data on Monday, March 3rd. The company reported ($1.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.94) by ($0.25). As a group, equities analysts expect that Apogee Therapeutics, Inc. will post -3.09 EPS for the current year.

Insider Activity at Apogee Therapeutics

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $48.85, for a total transaction of $732,750.00. Following the completion of the transaction, the chief executive officer now owns 1,309,487 shares in the company, valued at approximately $63,968,439.95. This trade represents a 1.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Carl Dambkowski sold 3,520 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $40.69, for a total transaction of $143,228.80. Following the completion of the transaction, the insider now owns 252,623 shares in the company, valued at $10,279,229.87. This trade represents a 1.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,195 shares of company stock worth $2,026,392 over the last three months. Company insiders own 36.10% of the company’s stock.

Institutional Trading of Apogee Therapeutics

A number of large investors have recently bought and sold shares of the business. Wellington Management Group LLP boosted its position in shares of Apogee Therapeutics by 35.7% during the 3rd quarter. Wellington Management Group LLP now owns 4,814,400 shares of the company’s stock valued at $282,798,000 after purchasing an additional 1,267,451 shares in the last quarter. Driehaus Capital Management LLC boosted its holdings in shares of Apogee Therapeutics by 2.8% during the 4th quarter. Driehaus Capital Management LLC now owns 2,605,310 shares of the company’s stock worth $118,021,000 after buying an additional 71,703 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Apogee Therapeutics by 13.5% in the 4th quarter. Alliancebernstein L.P. now owns 1,355,185 shares of the company’s stock valued at $61,390,000 after acquiring an additional 160,822 shares in the last quarter. Paradigm Biocapital Advisors LP boosted its stake in Apogee Therapeutics by 82.9% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 1,283,766 shares of the company’s stock worth $58,155,000 after acquiring an additional 581,949 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Apogee Therapeutics by 141.7% during the fourth quarter. Janus Henderson Group PLC now owns 1,135,100 shares of the company’s stock worth $51,455,000 after acquiring an additional 665,543 shares in the last quarter. 79.04% of the stock is currently owned by institutional investors and hedge funds.

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.