Apogee Therapeutics (NASDAQ:APGE) Stock Price Down 6.1%

Apogee Therapeutics, Inc. (NASDAQ:APGE)’s stock price fell 6.1% during mid-day trading on Thursday . The company traded as low as $48.38 and last traded at $48.38. 191,039 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 635,743 shares. The stock had previously closed at $51.50.

Wall Street Analysts Forecast Growth

APGE has been the topic of a number of research analyst reports. Guggenheim increased their price objective on shares of Apogee Therapeutics from $44.00 to $91.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Stifel Nicolaus lifted their price target on Apogee Therapeutics from $46.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Jefferies Financial Group upped their price objective on Apogee Therapeutics from $37.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Finally, Wedbush reiterated an “outperform” rating and issued a $87.00 target price (up previously from $40.00) on shares of Apogee Therapeutics in a research report on Tuesday, March 5th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, Apogee Therapeutics presently has an average rating of “Buy” and a consensus price target of $71.83.

Apogee Therapeutics Stock Performance

The firm’s 50 day moving average is $53.26 and its two-hundred day moving average is $34.32.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly earnings results on Tuesday, March 5th. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.13. Analysts expect that Apogee Therapeutics, Inc. will post -2.67 EPS for the current year.

Institutional Investors Weigh In On Apogee Therapeutics

Several large investors have recently added to or reduced their stakes in APGE. American International Group Inc. boosted its holdings in shares of Apogee Therapeutics by 4.8% during the fourth quarter. American International Group Inc. now owns 10,203 shares of the company’s stock valued at $285,000 after acquiring an additional 471 shares during the period. SG Americas Securities LLC boosted its stake in Apogee Therapeutics by 34.0% during the 4th quarter. SG Americas Securities LLC now owns 6,607 shares of the company’s stock valued at $185,000 after purchasing an additional 1,676 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Apogee Therapeutics by 3.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 51,100 shares of the company’s stock valued at $1,428,000 after buying an additional 1,745 shares during the last quarter. Amalgamated Bank acquired a new position in shares of Apogee Therapeutics during the third quarter worth approximately $52,000. Finally, Legal & General Group Plc bought a new position in Apogee Therapeutics in the 3rd quarter worth approximately $68,000. 79.04% of the stock is owned by institutional investors and hedge funds.

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.