Apogee Therapeutics (NASDAQ:APGE) Trading Down 6.2%

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

Analyst Upgrades and Downgrades

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

Apogee Therapeutics Price Performance

The stock’s fifty day simple moving average is $53.81 and its two-hundred day simple moving average is $34.89.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly earnings results on Tuesday, March 5th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.13. Equities research analysts anticipate that Apogee Therapeutics, Inc. will post -2.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Apogee Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC increased its holdings in shares of Apogee Therapeutics by 34.0% in the 4th quarter. SG Americas Securities LLC now owns 6,607 shares of the company’s stock valued at $185,000 after purchasing an additional 1,676 shares during the period. Amalgamated Bank acquired a new position in Apogee Therapeutics in the third quarter worth approximately $52,000. Strs Ohio acquired a new position in Apogee Therapeutics in the third quarter worth approximately $87,000. New York State Common Retirement Fund acquired a new position in Apogee Therapeutics in the third quarter worth approximately $90,000. Finally, Wellington Management Group LLP increased its holdings in Apogee Therapeutics by 0.3% in the fourth quarter. Wellington Management Group LLP now owns 1,591,478 shares of the company’s stock worth $44,358,000 after buying an additional 4,749 shares during the last quarter. 79.04% of the stock is owned by institutional investors and hedge funds.

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.