Apogee Therapeutics (NASDAQ:APGE) Stock Price Up 4.5% – Time to Buy?

Apogee Therapeutics, Inc. (NASDAQ:APGE) traded up 4.5% on Monday . The company traded as high as $37.52 and last traded at $37.77. 521,355 shares were traded during 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

Several equities analysts have issued reports on APGE shares. Guggenheim reiterated a “buy” rating on shares of Apogee Therapeutics in a research note on Monday, February 10th. Canaccord Genuity Group started coverage on shares of Apogee Therapeutics in a research report on Monday, November 25th. They issued a “buy” rating and a $89.00 price objective on the stock. Canaccord Genuity Group began coverage on shares of Apogee Therapeutics in a research note on Monday, November 25th. They set a “buy” rating and a $89.00 price objective for the company. Finally, Wedbush restated an “outperform” rating and issued a $90.00 target price on shares of Apogee Therapeutics in a research note on Tuesday. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $91.60.

Apogee Therapeutics Stock Down 4.3 %

The firm has a market cap of $1.73 billion, a PE ratio of -15.92 and a beta of 2.46. The stock has a 50 day moving average price of $38.55 and a two-hundred day moving average price of $46.71.

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

Insider Buying and Selling

In other news, insider Carl Dambkowski sold 1,590 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $30.48, for a total value of $48,463.20. Following the sale, the insider now directly owns 251,033 shares of the company’s stock, valued at $7,651,485.84. This represents a 0.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Thomas Henderson sold 10,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $30.15, for a total transaction of $301,500.00. Following the completion of the sale, the chief executive officer now owns 1,292,987 shares in the company, valued at $38,983,558.05. The trade was a 0.77 % 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 in the last 90 days. Insiders own 36.10% of the company’s stock.

Institutional Investors Weigh In On Apogee Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. acquired a new position in shares of Apogee Therapeutics in the 4th quarter valued at about $43,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Apogee Therapeutics in the third quarter valued at approximately $71,000. Optimize Financial Inc acquired a new position in Apogee Therapeutics in the fourth quarter valued at approximately $203,000. Aigen Investment Management LP purchased a new stake in Apogee Therapeutics in the 4th quarter worth approximately $216,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Apogee Therapeutics during the 4th quarter worth approximately $219,000. 79.04% of the stock is owned by hedge funds and other institutional investors.

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.