Apogee Therapeutics (NASDAQ:APGE) Receives Buy Rating from Guggenheim

Apogee Therapeutics (NASDAQ:APGE)‘s stock had its “buy” rating reaffirmed by research analysts at Guggenheim in a research report issued on Monday,Benzinga reports.

Several other research firms have also recently weighed in on APGE. Wedbush raised their price objective on shares of Apogee Therapeutics from $87.00 to $90.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Canaccord Genuity Group assumed coverage on shares of Apogee Therapeutics in a research note on Monday, November 25th. They issued a “buy” rating and a $89.00 price target on the stock. Finally, Canaccord Genuity Group initiated 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. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Apogee Therapeutics has a consensus rating of “Buy” and a consensus price target of $89.71.

Apogee Therapeutics Stock Performance

Apogee Therapeutics stock opened at $34.49 on Monday. The firm’s 50 day moving average price is $43.88 and its two-hundred day moving average price is $48.34. Apogee Therapeutics has a twelve month low of $33.14 and a twelve month high of $72.29. The firm has a market cap of $1.55 billion, a PE ratio of -14.25 and a beta of 2.18.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.86) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.13). Equities analysts anticipate that Apogee Therapeutics will post -3.09 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Mark C. Mckenna acquired 20,000 shares of the stock in a transaction dated Thursday, December 12th. The stock was bought at an average price of $49.54 per share, with a total value of $990,800.00. Following the completion of the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at $990,800. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Thomas Henderson sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $46.58, for a total value of $698,700.00. Following the completion of the transaction, the chief executive officer now directly owns 1,324,487 shares of the company’s stock, valued at $61,694,604.46. This represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 63,810 shares of company stock valued at $2,903,556 over the last quarter. 36.10% of the stock is owned by company insiders.

Institutional Trading of Apogee Therapeutics

Large investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Apogee Therapeutics by 21.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,628 shares of the company’s stock worth $94,000 after purchasing an additional 285 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Apogee Therapeutics by 10.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,547 shares of the company’s stock worth $432,000 after purchasing an additional 892 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Apogee Therapeutics by 17.3% in the 4th quarter. Arizona State Retirement System now owns 6,517 shares of the company’s stock worth $295,000 after purchasing an additional 960 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Apogee Therapeutics by 8.9% in the 4th quarter. New York State Common Retirement Fund now owns 12,187 shares of the company’s stock worth $552,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Apogee Therapeutics in the 3rd quarter worth $71,000. 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.