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

by · The Cerbat Gem

Apogee Therapeutics Inc. (NASDAQ:APGE – Get Free Report)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $77.50 and last traded at $75.52, with a volume of 56733 shares traded. The stock had previously closed at $76.06.

Wall Street Analysts Forecast Growth

A number of research firms have commented on APGE. Wall Street Zen lowered shares of Apogee Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, December 6th. Citigroup reissued a “buy” rating on shares of Apogee Therapeutics in a report on Thursday, August 28th. Bank of America raised their price target on Apogee Therapeutics from $78.00 to $87.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Royal Bank Of Canada boosted their price objective on Apogee Therapeutics from $60.00 to $70.00 and gave the stock an “outperform” rating in a research note on Monday, November 3rd. Finally, BTIG Research restated a “buy” rating and issued a $115.00 target price on shares of Apogee Therapeutics in a research note on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Apogee Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $98.89.

Check Out Our Latest Analysis on APGE

Apogee Therapeutics Price Performance

The firm has a 50 day moving average price of $59.75 and a 200-day moving average price of $46.21. The firm has a market cap of $5.25 billion, a price-to-earnings ratio of -17.51 and a beta of 1.41.

Apogee Therapeutics (NASDAQ:APGE – Get Free Report) last announced its quarterly earnings data on Monday, November 10th. The company reported ($1.11) earnings per share for the quarter, topping the consensus estimate of ($1.14) by $0.03. On average, sell-side analysts expect that Apogee Therapeutics Inc. will post -3.09 EPS for the current fiscal year.

Insider Transactions at Apogee Therapeutics

In related news, CEO Michael Thomas Henderson sold 40,000 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer owned 1,232,987 shares of the company’s stock, valued at approximately $92,486,354.87. This trade represents a 3.14% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Carl Dambkowski sold 10,900 shares of the business’s stock in a transaction dated 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 transaction, the insider directly owned 271,108 shares of the company’s stock, valued at approximately $20,333,100. The trade was a 3.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 86,795 shares of company stock worth $5,875,408. Company insiders own 42.77% of the company’s stock.

Institutional Trading of Apogee Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of APGE. Verition Fund Management LLC bought a new position in shares of Apogee Therapeutics in the third quarter valued at $1,968,000. Vestal Point Capital LP acquired a new stake in Apogee Therapeutics in the third quarter valued at $16,885,000. Polar Capital Holdings Plc grew 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 acquired a new position in shares of Apogee Therapeutics during the 3rd quarter worth about $1,043,000. Finally, Paradigm Biocapital Advisors LP raised its holdings in shares of Apogee Therapeutics by 58.7% in the 3rd quarter. Paradigm Biocapital Advisors LP now owns 1,521,757 shares of the company’s stock valued at $60,459,000 after purchasing an additional 563,127 shares during the period. Institutional investors and hedge funds own 79.04% of the company’s stock.

About Apogee Therapeutics

(Get Free Report)

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.

Further Reading