Apogee Therapeutics (NASDAQ:APGE) Shares Down 6.2% – Here’s What Happened

Apogee Therapeutics, Inc. (NASDAQ:APGE)’s share price traded down 6.2% during trading on Wednesday . The company traded as low as $53.26 and last traded at $53.78. 73,913 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 492,333 shares. The stock had previously closed at $57.35.

Wall Street Analyst Weigh In

Separately, Wedbush restated an “outperform” rating and issued a $87.00 price objective on shares of Apogee Therapeutics in a report on Tuesday. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $78.50.

Apogee Therapeutics Trading Down 9.2 %

The firm has a fifty day moving average of $54.61 and a 200 day moving average of $48.98.

Apogee Therapeutics (NASDAQ:APGE) last announced its earnings results on Monday, August 12th. The company reported ($0.60) EPS for the quarter, meeting the consensus estimate of ($0.60). As a group, research analysts predict that Apogee Therapeutics, Inc. will post -2.57 earnings per share for the current year.

Insider Buying and Selling at Apogee Therapeutics

In other Apogee Therapeutics news, CFO Jane Henderson sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $48.26, for a total transaction of $289,560.00. Following the completion of the sale, the chief financial officer now owns 200,871 shares in the company, valued at $9,694,034.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Apogee Therapeutics news, insider Carl Dambkowski sold 6,665 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $47.56, for a total transaction of $316,987.40. Following the completion of the sale, the insider now owns 280,793 shares in the company, valued at $13,354,515.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jane Henderson sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $48.26, for a total value of $289,560.00. Following the sale, the chief financial officer now owns 200,871 shares of the company’s stock, valued at approximately $9,694,034.46. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 120,995 shares of company stock worth $6,417,855 in the last 90 days. 36.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in APGE. Swiss National Bank grew its position in shares of Apogee Therapeutics by 25.2% in the 1st quarter. Swiss National Bank now owns 41,300 shares of the company’s stock worth $2,744,000 after acquiring an additional 8,300 shares in the last quarter. Sei Investments Co. acquired a new position in shares of Apogee Therapeutics in the 1st quarter worth approximately $648,000. ProShare Advisors LLC acquired a new position in shares of Apogee Therapeutics in the 1st quarter worth approximately $667,000. Vanguard Group Inc. grew its position in shares of Apogee Therapeutics by 60.7% in the 1st quarter. Vanguard Group Inc. now owns 1,868,666 shares of the company’s stock worth $124,173,000 after acquiring an additional 705,795 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its position in Apogee Therapeutics by 111.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,126 shares of the company’s stock valued at $274,000 after purchasing an additional 2,172 shares during the period. Institutional investors and hedge funds own 79.04% of the company’s stock.

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.