Apogee Therapeutics (NASDAQ:APGE) Trading Down 6.2%

Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) were down 6.2% during mid-day trading on Wednesday . The stock traded as low as $46.52 and last traded at $46.67. Approximately 102,297 shares were traded during trading, a decline of 83% from the average daily volume of 619,341 shares. The stock had previously closed at $49.77.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on APGE shares. Guggenheim boosted their price objective on shares of Apogee Therapeutics from $44.00 to $91.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Stifel Nicolaus boosted their price objective on shares of Apogee Therapeutics from $46.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Jefferies Financial Group boosted their price objective on shares of Apogee Therapeutics from $37.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Finally, Wedbush restated an “outperform” rating and issued a $87.00 price objective (up from $40.00) on shares of Apogee Therapeutics in a report on Tuesday, March 5th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $71.83.

Apogee Therapeutics Stock Up 2.8 %

The firm’s fifty day moving average is $54.24 and its two-hundred day moving average is $35.05.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in APGE. FMR LLC bought a new position in shares of Apogee Therapeutics during the 3rd quarter valued at about $89,619,000. RTW Investments LP purchased a new stake in shares of Apogee Therapeutics during the 3rd quarter valued at about $45,637,000. RA Capital Management L.P. purchased a new stake in shares of Apogee Therapeutics during the 3rd quarter valued at about $42,129,000. Wellington Management Group LLP purchased a new stake in shares of Apogee Therapeutics during the 3rd quarter valued at about $33,037,000. Finally, Vanguard Group Inc. purchased a new stake in shares of Apogee Therapeutics during the 3rd quarter valued at about $23,894,000. Institutional investors 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.