Stephens Upgrades Apogee Therapeutics (NASDAQ:APGE) to Strong-Buy

Apogee Therapeutics (NASDAQ:APGE) was upgraded by Stephens to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other equities research analysts have also commented on APGE. Royal Bank Of Canada lifted their price target on shares of Apogee Therapeutics from $60.00 to $70.00 and gave the stock an “outperform” rating in a research note on Monday, November 3rd. Wall Street Zen lowered Apogee Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. Mizuho started coverage on Apogee Therapeutics in a report on Tuesday, October 21st. They issued an “outperform” rating and a $105.00 target price for the company. BTIG Research restated a “buy” rating and set a $115.00 price target on shares of Apogee Therapeutics in a research note on Thursday, October 9th. Finally, Citigroup reiterated a “buy” rating on shares of Apogee Therapeutics in a research note on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $98.50.

Apogee Therapeutics Stock Up 2.5%

APGE stock opened at $77.35 on Tuesday. The business has a 50 day moving average price of $63.72 and a 200 day moving average price of $47.77. The stock has a market cap of $5.28 billion, a price-to-earnings ratio of -17.66 and a beta of 1.41. Apogee Therapeutics has a fifty-two week low of $26.20 and a fifty-two week high of $78.15.

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

Insider Activity at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 10,900 shares of the stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $75.00, for a total transaction of $817,500.00. Following the completion of the sale, the insider directly owned 271,108 shares of the company’s stock, valued at approximately $20,333,100. This trade represents a 3.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $75.38, for a total value of $1,507,600.00. Following the completion of the transaction, the chief executive officer owned 1,212,987 shares in the company, valued at $91,434,960.06. This trade represents a 1.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 106,795 shares of company stock valued at $7,383,008. 42.77% of the stock is owned by company insiders.

Hedge Funds Weigh In On Apogee Therapeutics

A number of large investors have recently bought and sold shares of APGE. Nisa Investment Advisors LLC lifted its stake 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 acquiring an additional 383 shares during the period. ANTIPODES PARTNERS Ltd increased its stake in shares of Apogee Therapeutics by 41.2% during the third quarter. ANTIPODES PARTNERS Ltd now owns 843 shares of the company’s stock worth $33,000 after acquiring an additional 246 shares during the period. Brooklyn Investment Group purchased a new position in Apogee Therapeutics during the first quarter worth about $42,000. AlphaQuest LLC acquired a new stake in Apogee Therapeutics in the first quarter valued at about $43,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Apogee Therapeutics by 18.0% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,779 shares of the company’s stock valued at $77,000 after purchasing an additional 272 shares in the last quarter. Hedge funds and other 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.