Wedbush Issues Positive Forecast for Apogee Therapeutics (NASDAQ:APGE) Stock Price

Apogee Therapeutics (NASDAQ:APGE) had its target price boosted by investment analysts at Wedbush from $87.00 to $90.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Wedbush’s price target points to a potential upside of 93.01% from the stock’s previous close.

APGE has been the subject of a number of other research reports. Canaccord Genuity Group assumed coverage on shares of Apogee Therapeutics in a research note on Monday, November 25th. They set a “buy” rating and a $89.00 target price for the company. Guggenheim upped their price objective on Apogee Therapeutics from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Finally, Canaccord Genuity Group assumed coverage on shares of Apogee Therapeutics in a report on Monday, November 25th. They set a “buy” rating and a $89.00 price target on the stock. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Apogee Therapeutics presently has a consensus rating of “Buy” and an average price target of $83.88.

Apogee Therapeutics Stock Up 3.3 %

Shares of NASDAQ:APGE traded up $1.48 during midday trading on Monday, reaching $46.63. The company’s stock had a trading volume of 205,153 shares, compared to its average volume of 492,002. The firm has a 50 day moving average of $53.40 and a 200-day moving average of $48.39. The firm has a market capitalization of $2.10 billion, a P/E ratio of -19.14 and a beta of 2.93. Apogee Therapeutics has a 12-month low of $18.84 and a 12-month high of $72.29.

Insider Buying and Selling

In related news, insider Carl Dambkowski sold 6,665 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $47.56, for a total value of $316,987.40. Following the completion of the transaction, the insider now owns 280,793 shares of the company’s stock, valued at approximately $13,354,515.08. This represents a 2.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael Thomas Henderson sold 15,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $59.22, for a total value of $888,300.00. Following the completion of the sale, the chief executive officer now owns 1,339,487 shares of the company’s stock, valued at $79,324,420.14. The trade was a 1.11 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 114,995 shares of company stock valued at $6,128,295. 36.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in APGE. Point72 DIFC Ltd bought a new stake in shares of Apogee Therapeutics in the 2nd quarter worth about $660,000. XTX Topco Ltd purchased a new position in Apogee Therapeutics in the second quarter worth about $706,000. Victory Capital Management Inc. increased its stake in Apogee Therapeutics by 56.8% during the second quarter. Victory Capital Management Inc. now owns 156,266 shares of the company’s stock worth $6,149,000 after acquiring an additional 56,607 shares during the last quarter. Waypoint Capital Advisors LLC purchased a new stake in Apogee Therapeutics during the third quarter valued at approximately $36,835,000. Finally, AQR Capital Management LLC bought a new stake in shares of Apogee Therapeutics in the 2nd quarter valued at approximately $454,000. 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.