Apogee Therapeutics (NASDAQ:APGE) Reaches New 52-Week High – What’s Next?

Apogee Therapeutics Inc. (NASDAQ:APGE) reached a new 52-week high on Thursday . The stock traded as high as $67.66 and last traded at $64.6530, with a volume of 263228 shares trading hands. The stock had previously closed at $63.83.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Craig Hallum started coverage on shares of Apogee Therapeutics in a research report on Monday, November 3rd. They set a “buy” rating and a $109.00 target price for the company. Zacks Research lowered shares of Apogee Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 14th. Citigroup reissued a “buy” rating on shares of Apogee Therapeutics in a research note on Thursday, August 28th. Mizuho began coverage on shares of Apogee Therapeutics in a research report on Tuesday, October 21st. They set an “outperform” rating and a $105.00 price target for the company. Finally, Royal Bank Of Canada increased their price target on Apogee Therapeutics from $60.00 to $70.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $96.50.

Apogee Therapeutics Trading Up 4.6%

The stock has a market cap of $4.53 billion, a PE ratio of -15.13 and a beta of 1.50. The company’s 50 day moving average is $50.79 and its 200-day moving average is $43.14.

Apogee Therapeutics (NASDAQ:APGE) last posted its quarterly earnings data on Monday, November 10th. The company reported ($1.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.14) by $0.03. As a group, analysts forecast that Apogee Therapeutics Inc. will post -3.09 EPS for the current year.

Insider Buying and Selling

In other news, insider Carl Dambkowski sold 10,785 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $55.07, for a total transaction of $593,929.95. Following the completion of the sale, the insider owned 282,008 shares of the company’s stock, valued at approximately $15,530,180.56. This trade represents a 3.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $63.01, for a total transaction of $1,260,200.00. Following the completion of the sale, the chief executive officer owned 1,272,987 shares of the company’s stock, valued at approximately $80,210,910.87. This trade represents a 1.55% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 38,620 shares of company stock valued at $2,160,704. 42.77% of the stock is owned by insiders.

Institutional Investors Weigh In On Apogee Therapeutics

A number of institutional investors have recently modified their holdings of the stock. ANTIPODES PARTNERS Ltd increased its holdings in Apogee Therapeutics by 41.2% in the third quarter. ANTIPODES PARTNERS Ltd now owns 843 shares of the company’s stock valued at $33,000 after buying an additional 246 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Apogee Therapeutics by 18.0% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,779 shares of the company’s stock worth $77,000 after acquiring an additional 272 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Apogee Therapeutics by 99.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 769 shares of the company’s stock valued at $33,000 after acquiring an additional 383 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Apogee Therapeutics by 2.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,529 shares of the company’s stock valued at $921,000 after acquiring an additional 694 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Apogee Therapeutics by 34.7% during the second quarter. BNP Paribas Financial Markets now owns 3,649 shares of the company’s stock worth $158,000 after purchasing an additional 941 shares during the last quarter. Institutional investors and hedge funds own 79.04% of the company’s stock.

About Apogee Therapeutics

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.