Craig Hallum Initiates Coverage on Apogee Therapeutics (NASDAQ:APGE)

Stock analysts at Craig Hallum started coverage on shares of Apogee Therapeutics (NASDAQ:APGE) in a report released on Monday, MarketBeat reports. The brokerage set a “buy” rating and a $109.00 price target on the stock. Craig Hallum’s target price indicates a potential upside of 102.23% from the company’s previous close.

A number of other research analysts have also commented on the stock. BTIG Research reaffirmed a “buy” rating and set a $115.00 price objective on shares of Apogee Therapeutics in a research report on Thursday, October 9th. Citigroup reaffirmed a “buy” rating on shares of Apogee Therapeutics in a report on Thursday, August 28th. Royal Bank Of Canada raised their price objective on shares of Apogee Therapeutics from $60.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of Apogee Therapeutics in a research report on Wednesday, October 8th. Finally, Wedbush restated an “outperform” rating and set a $90.00 price objective on shares of Apogee Therapeutics in a report on Monday, August 11th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Apogee Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.50.

Apogee Therapeutics Stock Performance

NASDAQ APGE opened at $53.90 on Monday. Apogee Therapeutics has a twelve month low of $26.20 and a twelve month high of $63.50. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of -13.05 and a beta of 1.50. The firm’s 50 day moving average price is $44.55 and its two-hundred day moving average price is $41.02.

Apogee Therapeutics (NASDAQ:APGE) last posted its quarterly earnings results on Monday, August 11th. The company reported ($1.13) EPS for the quarter, missing the consensus estimate of ($1.03) by ($0.10). On average, research analysts forecast that Apogee Therapeutics will post -3.09 EPS for the current fiscal year.

Insider Transactions at Apogee Therapeutics

In related news, insider Carl Dambkowski sold 5,110 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $39.80, for a total transaction of $203,378.00. Following the completion of the transaction, the insider directly owned 284,733 shares in the company, valued at $11,332,373.40. This represents a 1.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 42.77% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Apogee Therapeutics

Several large investors have recently modified their holdings of APGE. Octagon Capital Advisors LP bought a new stake in shares of Apogee Therapeutics in the 1st quarter valued at $399,752,000. Wellington Management Group LLP boosted its stake in Apogee Therapeutics by 21.4% during the first quarter. Wellington Management Group LLP now owns 5,485,754 shares of the company’s stock worth $204,948,000 after acquiring an additional 968,391 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of Apogee Therapeutics by 8.4% in the second quarter. Alliancebernstein L.P. now owns 1,388,149 shares of the company’s stock valued at $60,287,000 after buying an additional 107,199 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in shares of Apogee Therapeutics by 77.5% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,290,464 shares of the company’s stock valued at $56,045,000 after buying an additional 563,464 shares in the last quarter. Finally, Perceptive Advisors LLC lifted its stake in shares of Apogee Therapeutics by 5.3% in the second quarter. Perceptive Advisors LLC now owns 1,182,148 shares of the company’s stock valued at $51,341,000 after buying an additional 59,381 shares in the last quarter. Institutional investors own 79.04% of the company’s stock.

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.