Guggenheim Issues Positive Forecast for Apogee Therapeutics (NASDAQ:APGE) Stock Price

Apogee Therapeutics (NASDAQ:APGE) had its price objective hoisted by equities researchers at Guggenheim from $95.00 to $110.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s target price suggests a potential upside of 150.23% from the company’s previous close.

Several other research analysts also recently weighed in on APGE. Wedbush reissued an “outperform” rating and issued a $87.00 target price on shares of Apogee Therapeutics in a research report on Tuesday, November 12th. Canaccord Genuity Group started coverage on shares of Apogee Therapeutics in a research report on Monday. They set a “buy” rating and a $89.00 price objective on the stock. Finally, Canaccord Genuity Group started coverage on shares of Apogee Therapeutics in a research report on Monday. They set a “buy” rating and a $89.00 price objective on the stock. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $83.50.

Apogee Therapeutics Price Performance

Apogee Therapeutics stock opened at $43.96 on Wednesday. The firm’s 50 day simple moving average is $54.14 and its 200-day simple moving average is $48.63. The company has a market cap of $1.98 billion, a P/E ratio of -18.17 and a beta of 2.93. Apogee Therapeutics has a fifty-two week low of $16.39 and a fifty-two week high of $72.29.

Insider Activity at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 6,665 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $47.56, for a total value of $316,987.40. Following the sale, the insider now owns 280,793 shares of the company’s stock, valued at $13,354,515.08. The trade was a 2.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael Thomas Henderson sold 15,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $59.22, for a total transaction of $888,300.00. Following the completion of the sale, the chief executive officer now directly owns 1,339,487 shares in the company, valued at $79,324,420.14. This trade represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 114,995 shares of company stock worth $6,128,295 in the last ninety days. 36.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Apogee Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Apogee Therapeutics in the 3rd quarter valued at $71,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Apogee Therapeutics by 21.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,628 shares of the company’s stock valued at $94,000 after buying an additional 285 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Apogee Therapeutics in the 2nd quarter valued at $143,000. Kennedy Capital Management LLC bought a new stake in Apogee Therapeutics in the 1st quarter valued at $212,000. Finally, Wexford Capital LP bought a new stake in Apogee Therapeutics in the 3rd quarter valued at $230,000. 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.