Apogee Therapeutics (NASDAQ:APGE) Coverage Initiated at Craig Hallum

Investment analysts at Craig Hallum started coverage on shares of Apogee Therapeutics (NASDAQ:APGE) in a report issued on Monday, MarketBeat Ratings reports. The firm set a “buy” rating and a $109.00 price target on the stock. Craig Hallum’s price objective would suggest a potential upside of 102.23% from the stock’s previous close.

A number of other research analysts have also weighed in on the company. Mizuho initiated coverage on Apogee Therapeutics in a report on Tuesday, October 21st. They set an “outperform” rating and a $105.00 target price for the company. BTIG Research reaffirmed a “buy” rating and set a $115.00 target price on shares of Apogee Therapeutics in a report on Thursday, October 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Apogee Therapeutics in a report on Wednesday, October 8th. Zacks Research lowered Apogee Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 14th. Finally, Bank of America lifted their target price on Apogee Therapeutics from $78.00 to $87.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $96.50.

Apogee Therapeutics Stock Performance

Shares of APGE opened at $53.90 on Monday. The business has a 50-day moving average of $44.55 and a 200 day moving average of $41.02. Apogee Therapeutics has a fifty-two week low of $26.20 and a fifty-two week high of $63.50. The firm has a market cap of $2.49 billion, a P/E ratio of -13.05 and a beta of 1.50.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly earnings data on Monday, August 11th. The company reported ($1.13) earnings per share for the quarter, missing the consensus estimate of ($1.03) by ($0.10). As a group, research analysts predict that Apogee Therapeutics will post -3.09 earnings per share for the current fiscal year.

Insider Activity at Apogee Therapeutics

In other news, insider Carl Dambkowski sold 5,110 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $39.80, for a total transaction of $203,378.00. Following the completion of the transaction, the insider owned 284,733 shares of the company’s stock, valued at approximately $11,332,373.40. The trade was a 1.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 42.77% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Nisa Investment Advisors LLC lifted its position in Apogee Therapeutics by 99.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 769 shares of the company’s stock worth $33,000 after buying an additional 383 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Apogee Therapeutics during the first quarter valued at approximately $42,000. AlphaQuest LLC bought a new position in shares of Apogee Therapeutics during the first quarter valued at approximately $43,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Apogee Therapeutics by 18.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,779 shares of the company’s stock valued at $77,000 after acquiring an additional 272 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Apogee Therapeutics by 34.7% during the second quarter. BNP Paribas Financial Markets now owns 3,649 shares of the company’s stock valued at $158,000 after acquiring an additional 941 shares in the last quarter. 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.