Apogee Therapeutics (NASDAQ:APGE) Hits New 1-Year High – Here’s Why

Shares of Apogee Therapeutics Inc. (NASDAQ:APGE) 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. The stock had previously closed at $76.06.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. BTIG Research restated a “buy” rating and issued a $115.00 price objective on shares of Apogee Therapeutics in a research report on Thursday, October 9th. Zacks Research cut Apogee Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 14th. Deutsche Bank Aktiengesellschaft assumed coverage on Apogee Therapeutics in a research note on Tuesday. They issued a “buy” rating and a $103.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Apogee Therapeutics in a research report on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of Apogee Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, December 6th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Apogee Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $98.89.

Apogee Therapeutics Stock Performance

The firm has a market capitalization of $5.25 billion, a PE ratio of -17.54 and a beta of 1.41. The company has a fifty day moving average price of $59.75 and a 200-day moving average price of $46.21.

Apogee Therapeutics (NASDAQ:APGE) last posted its earnings results 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. On average, equities analysts predict that Apogee Therapeutics Inc. will post -3.09 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Michael Thomas Henderson sold 40,000 shares of the business’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $75.01, for a total value of $3,000,400.00. Following the sale, the chief executive officer directly owned 1,232,987 shares in the company, valued at $92,486,354.87. The trade was a 3.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Carl Dambkowski sold 10,900 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $75.00, for a total transaction of $817,500.00. Following the sale, the insider owned 271,108 shares in the company, valued at $20,333,100. This represents a 3.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 86,795 shares of company stock valued at $5,875,408 over the last three months. Corporate insiders own 42.77% of the company’s stock.

Institutional Investors Weigh In On Apogee Therapeutics

Several institutional investors have recently modified their holdings of APGE. Nisa Investment Advisors LLC boosted 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 worth $33,000 after purchasing an additional 383 shares during the period. ANTIPODES PARTNERS Ltd raised its holdings in Apogee Therapeutics by 41.2% during the 3rd 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 period. Brooklyn Investment Group bought a new stake in Apogee Therapeutics in the first quarter worth $42,000. AlphaQuest LLC purchased a new position in Apogee Therapeutics during the first quarter worth $43,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Apogee Therapeutics by 18.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,779 shares of the company’s stock worth $77,000 after buying an additional 272 shares during the period. 79.04% of the stock is owned by institutional investors.

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.