Apogee Therapeutics (NASDAQ:APGE) Trading Down 7.8% – Here’s What Happened

Apogee Therapeutics, Inc. (NASDAQ:APGEGet Free Report) fell 7.8% on Thursday . The company traded as low as $44.50 and last traded at $44.98. 629,892 shares changed hands during mid-day trading, an increase of 25% from the average session volume of 502,104 shares. The stock had previously closed at $48.77.

Analysts Set New Price Targets

A number of equities research analysts recently commented on APGE shares. Guggenheim reiterated a “buy” rating on shares of Apogee Therapeutics in a research report on Thursday. Canaccord Genuity Group started coverage on Apogee Therapeutics in a research report on Monday, November 25th. They issued a “buy” rating and a $89.00 target price on the stock. Canaccord Genuity Group started coverage on Apogee Therapeutics in a research report on Monday, November 25th. They issued a “buy” rating and a $89.00 target price on the stock. Finally, Wedbush boosted their target price on Apogee Therapeutics from $87.00 to $90.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Apogee Therapeutics presently has an average rating of “Buy” and an average price target of $83.88.

View Our Latest Research Report on Apogee Therapeutics

Apogee Therapeutics Price Performance

The business has a 50-day simple moving average of $51.43 and a 200-day simple moving average of $48.28. The firm has a market capitalization of $2.00 billion, a PE ratio of -18.39 and a beta of 2.30.

Insider Buying and Selling at Apogee Therapeutics

In other news, CEO Michael Thomas Henderson sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $46.58, for a total transaction of $698,700.00. Following the transaction, the chief executive officer now owns 1,324,487 shares of the company’s stock, valued at approximately $61,694,604.46. This represents a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Carl Dambkowski sold 4,540 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $48.76, for a total value of $221,370.40. Following the transaction, the insider now directly owns 258,073 shares in the company, valued at approximately $12,583,639.48. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 94,535 shares of company stock worth $5,133,635 over the last ninety days. Company insiders own 36.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Point72 DIFC Ltd bought a new position in Apogee Therapeutics in the second quarter worth approximately $660,000. Point72 Asset Management L.P. grew its stake in Apogee Therapeutics by 162.7% in the third quarter. Point72 Asset Management L.P. now owns 707,268 shares of the company’s stock worth $41,545,000 after purchasing an additional 438,036 shares in the last quarter. XTX Topco Ltd bought a new position in Apogee Therapeutics in the second quarter worth approximately $706,000. Victory Capital Management Inc. grew its stake in Apogee Therapeutics by 56.8% in the second quarter. Victory Capital Management Inc. now owns 156,266 shares of the company’s stock worth $6,149,000 after purchasing an additional 56,607 shares in the last quarter. Finally, Waypoint Capital Advisors LLC bought a new position in Apogee Therapeutics in the third quarter worth approximately $36,835,000. Institutional investors own 79.04% of the company’s stock.

Apogee Therapeutics Company Profile

(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

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