Apogee Therapeutics (NASDAQ:APGE) Hits New 1-Year High – Time to Buy?

Apogee Therapeutics Inc. (NASDAQ:APGE)’s stock price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $80.00 and last traded at $80.00, with a volume of 9086 shares. The stock had previously closed at $77.35.

Analyst Ratings Changes

A number of research firms recently commented on APGE. Mizuho initiated coverage on Apogee Therapeutics in a report on Tuesday, October 21st. They issued an “outperform” rating and a $105.00 price objective for the company. Royal Bank Of Canada boosted their target price on 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 target on shares of Apogee Therapeutics from $78.00 to $87.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Wall Street Zen cut shares of Apogee Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Apogee Therapeutics in a report on Tuesday, December 9th. They issued a “buy” rating and a $103.00 target price on the stock. 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’s stock. Based on data from MarketBeat.com, Apogee Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.50.

Apogee Therapeutics Price Performance

The stock has a market cap of $5.39 billion, a P/E ratio of -18.00 and a beta of 1.41. The stock’s 50 day simple moving average is $63.72 and its two-hundred day simple moving average is $47.77.

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

Insider Transactions at Apogee Therapeutics

In related news, CEO Michael Thomas Henderson sold 40,000 shares of the stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $75.01, for a total transaction of $3,000,400.00. Following the completion of the transaction, the chief executive officer directly owned 1,232,987 shares in the company, valued at approximately $92,486,354.87. This trade represents a 3.14% 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, insider Carl Dambkowski sold 10,900 shares of Apogee Therapeutics stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $75.00, for a total value of $817,500.00. Following the completion of the sale, the insider directly owned 271,108 shares in the company, valued at approximately $20,333,100. This represents a 3.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 106,795 shares of company stock valued at $7,383,008. Corporate insiders own 42.77% of the company’s stock.

Institutional Trading of Apogee Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Lisanti Capital Growth LLC acquired a new position in shares of Apogee Therapeutics during the 2nd quarter worth approximately $800,000. Fox Run Management L.L.C. acquired a new position in shares of Apogee Therapeutics in the second quarter valued at $437,000. Allspring Global Investments Holdings LLC bought a new position in shares of Apogee Therapeutics in the second quarter valued at about $218,000. Prudential Financial Inc. lifted its stake in shares of Apogee Therapeutics by 176.4% during the 2nd quarter. Prudential Financial Inc. now owns 68,845 shares of the company’s stock worth $2,990,000 after buying an additional 43,940 shares during the last quarter. Finally, Schroder Investment Management Group boosted its holdings in shares of Apogee Therapeutics by 22.9% during the 2nd quarter. Schroder Investment Management Group now owns 119,246 shares of the company’s stock worth $5,179,000 after buying an additional 22,254 shares during the period. 79.04% of the stock is currently 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.