Apogee Therapeutics (NASDAQ:APGE) Stock Price Up 4.5% – Still a Buy?

Apogee Therapeutics, Inc. (NASDAQ:APGE)’s stock price shot up 4.5% on Monday . The company traded as high as $37.52 and last traded at $37.77. 521,355 shares changed hands during mid-day trading, an increase of 6% from the average session volume of 491,645 shares. The stock had previously closed at $36.14.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Canaccord Genuity Group initiated coverage on shares of Apogee Therapeutics in a research report on Monday, November 25th. They set a “buy” rating and a $89.00 target price for the company. Wedbush reissued an “outperform” rating and issued a $90.00 price objective on shares of Apogee Therapeutics in a research report on Monday, March 3rd. Guggenheim restated a “buy” rating on shares of Apogee Therapeutics in a research note on Monday, February 10th. Finally, Canaccord Genuity Group assumed coverage on Apogee Therapeutics in a research note on Monday, November 25th. They issued a “buy” rating and a $89.00 price target for the company. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $91.60.

Apogee Therapeutics Stock Performance

The company has a market cap of $1.69 billion, a PE ratio of -15.51 and a beta of 2.46. The stock has a 50 day moving average of $38.78 and a 200-day moving average of $46.83.

Apogee Therapeutics (NASDAQ:APGE) last posted its quarterly earnings results on Monday, March 3rd. The company reported ($1.19) EPS for the quarter, missing the consensus estimate of ($0.94) by ($0.25). Equities research analysts forecast that Apogee Therapeutics, Inc. will post -3.09 EPS for the current year.

Insider Buying and Selling at Apogee Therapeutics

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $30.15, for a total value of $301,500.00. Following the sale, the chief executive officer now directly owns 1,292,987 shares of the company’s stock, valued at approximately $38,983,558.05. This trade represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Carl Dambkowski sold 4,540 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $48.76, for a total value of $221,370.40. Following the transaction, the insider now directly owns 258,073 shares of the company’s stock, valued at approximately $12,583,639.48. The trade was a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 53,735 shares of company stock valued at $2,247,762. 36.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Apogee Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in APGE. Wellington Management Group LLP grew its position in shares of Apogee Therapeutics by 35.7% in the third 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 during the period. Driehaus Capital Management LLC lifted its stake in Apogee Therapeutics by 2.8% in the 4th quarter. Driehaus Capital Management LLC now owns 2,605,310 shares of the company’s stock valued at $118,021,000 after buying an additional 71,703 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Apogee Therapeutics by 13.5% in the 4th quarter. Alliancebernstein L.P. now owns 1,355,185 shares of the company’s stock worth $61,390,000 after buying an additional 160,822 shares during the last quarter. Paradigm Biocapital Advisors LP increased its stake in Apogee Therapeutics by 82.9% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 1,283,766 shares of the company’s stock worth $58,155,000 after buying an additional 581,949 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of Apogee Therapeutics by 141.7% during the fourth quarter. Janus Henderson Group PLC now owns 1,135,100 shares of the company’s stock valued at $51,455,000 after acquiring an additional 665,543 shares during the last quarter. Hedge funds and other institutional investors 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.