Apogee Therapeutics (NASDAQ:APGE) Trading Up 5.2%

Apogee Therapeutics, Inc. (NASDAQ:APGE) rose 5.2% during trading on Tuesday . The company traded as high as $49.96 and last traded at $49.96. Approximately 46,632 shares were traded during trading, a decline of 91% from the average daily volume of 514,914 shares. The stock had previously closed at $47.51.

Analyst Ratings Changes

Separately, Wedbush reissued an “outperform” rating and issued a $87.00 target price on shares of Apogee Therapeutics in a research report on Monday, May 13th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $78.50.

Apogee Therapeutics Stock Up 4.2 %

The company has a 50 day simple moving average of $45.98 and a 200 day simple moving average of $49.27. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of -9.52 and a beta of 2.75.

Apogee Therapeutics (NASDAQ:APGE) last posted its earnings results on Monday, August 12th. The company reported ($0.60) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.60). On average, research analysts forecast that Apogee Therapeutics, Inc. will post -2.57 EPS for the current fiscal year.

Insider Transactions at Apogee Therapeutics

In related news, CEO Michael Thomas Henderson sold 40,000 shares of Apogee Therapeutics stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $40.62, for a total transaction of $1,624,800.00. Following the transaction, the chief executive officer now owns 1,434,487 shares in the company, valued at approximately $58,268,861.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Apogee Therapeutics news, insider Carl Dambkowski sold 7,335 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $40.67, for a total value of $298,314.45. Following the completion of the sale, the insider now owns 287,458 shares of the company’s stock, valued at $11,690,916.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Thomas Henderson sold 40,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $40.62, for a total transaction of $1,624,800.00. Following the transaction, the chief executive officer now directly owns 1,434,487 shares in the company, valued at $58,268,861.94. The disclosure for this sale can be found here. Insiders sold 120,995 shares of company stock valued at $5,218,774 over the last 90 days. Corporate insiders own 36.10% of the company’s stock.

Hedge Funds Weigh In On Apogee Therapeutics

A number of institutional investors have recently added to or reduced their stakes in APGE. Arizona State Retirement System increased its position in shares of Apogee Therapeutics by 4.5% during the second quarter. Arizona State Retirement System now owns 5,993 shares of the company’s stock worth $236,000 after acquiring an additional 258 shares during the last quarter. EntryPoint Capital LLC boosted its stake in shares of Apogee Therapeutics by 44.7% during the 1st quarter. EntryPoint Capital LLC now owns 1,997 shares of the company’s stock valued at $133,000 after buying an additional 617 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Apogee Therapeutics by 26.3% during the second quarter. Principal Financial Group Inc. now owns 6,442 shares of the company’s stock worth $253,000 after buying an additional 1,340 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its stake in shares of Apogee Therapeutics by 28.8% in the first quarter. China Universal Asset Management Co. Ltd. now owns 7,155 shares of the company’s stock worth $475,000 after buying an additional 1,600 shares during the last quarter. Finally, Ameritas Investment Partners Inc. raised its holdings in Apogee Therapeutics by 111.2% in the first quarter. Ameritas Investment Partners Inc. now owns 4,126 shares of the company’s stock valued at $274,000 after acquiring an additional 2,172 shares in the last quarter. Institutional investors and hedge funds 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.