Apogee Therapeutics (NASDAQ:APGE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Apogee Therapeutics (NASDAQ:APGE) from a sell rating to a hold rating in a report published on Saturday morning.

Several other brokerages have also recently commented on APGE. Craig Hallum began coverage on Apogee Therapeutics in a report on Monday, November 3rd. They set a “buy” rating and a $109.00 target price on the stock. Royal Bank Of Canada upped their price target on shares of Apogee Therapeutics from $60.00 to $70.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. Bank of America increased their price objective on shares of Apogee Therapeutics from $78.00 to $87.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Citigroup restated a “buy” rating on shares of Apogee Therapeutics in a research report on Thursday, August 28th. Finally, BTIG Research reiterated a “buy” rating and set a $115.00 target price on shares of Apogee Therapeutics in a research report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $96.50.

Apogee Therapeutics Trading Down 1.0%

NASDAQ APGE opened at $64.83 on Friday. Apogee Therapeutics has a 1-year low of $26.20 and a 1-year high of $67.57. The company has a 50 day moving average of $48.64 and a 200-day moving average of $42.49. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of -14.80 and a beta of 1.50.

Apogee Therapeutics (NASDAQ:APGE) last announced its earnings results on Monday, November 10th. The company reported ($1.11) EPS for the quarter, topping the consensus estimate of ($1.14) by $0.03. On average, analysts forecast that Apogee Therapeutics will post -3.09 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Carl Dambkowski sold 10,785 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $55.07, for a total value of $593,929.95. Following the transaction, the insider owned 282,008 shares of the company’s stock, valued at $15,530,180.56. This represents a 3.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael Thomas Henderson sold 20,000 shares of the firm’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $63.01, for a total value of $1,260,200.00. Following the completion of the transaction, the chief executive officer owned 1,272,987 shares in the company, valued at $80,210,910.87. This represents a 1.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 38,620 shares of company stock worth $2,160,704. Insiders own 42.77% of the company’s stock.

Institutional Investors Weigh In On Apogee Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Verition Fund Management LLC bought a new position in Apogee Therapeutics during the third quarter worth about $1,968,000. Vestal Point Capital LP bought a new stake in shares of Apogee Therapeutics in the 3rd quarter valued at about $16,885,000. Polar Capital Holdings Plc raised its position in shares of Apogee Therapeutics by 5.9% in the 3rd quarter. Polar Capital Holdings Plc now owns 524,094 shares of the company’s stock valued at $20,822,000 after acquiring an additional 29,094 shares during the period. Prelude Capital Management LLC bought a new position in Apogee Therapeutics during the 3rd quarter worth approximately $1,043,000. Finally, Paradigm Biocapital Advisors LP boosted its stake in Apogee Therapeutics by 58.7% during the 3rd quarter. Paradigm Biocapital Advisors LP now owns 1,521,757 shares of the company’s stock worth $60,459,000 after acquiring an additional 563,127 shares during the last quarter. 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.