Apogee Therapeutics (NASDAQ:APGE) Announces Quarterly Earnings Results

Apogee Therapeutics (NASDAQ:APGE) released its quarterly earnings data on Monday. The company reported ($1.11) EPS for the quarter, beating the consensus estimate of ($1.14) by $0.03, Zacks reports.

Apogee Therapeutics Stock Up 3.6%

Apogee Therapeutics stock traded up $1.99 during midday trading on Monday, reaching $56.70. The stock had a trading volume of 377,299 shares, compared to its average volume of 726,871. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of -13.73 and a beta of 1.50. Apogee Therapeutics has a 52-week low of $26.20 and a 52-week high of $63.50. The company has a fifty day moving average of $45.64 and a 200 day moving average of $41.45.

Insider Buying and Selling at Apogee Therapeutics

In related news, insider Carl Dambkowski sold 10,785 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $55.07, for a total transaction of $593,929.95. Following the completion of the sale, the insider directly owned 282,008 shares of the company’s stock, valued at approximately $15,530,180.56. This trade represents a 3.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 18,620 shares of company stock valued at $900,504 in the last quarter. Corporate insiders own 42.77% of the company’s stock.

Institutional Trading of Apogee Therapeutics

A number of large investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Apogee Therapeutics by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,529 shares of the company’s stock worth $921,000 after acquiring an additional 694 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Apogee Therapeutics by 34.7% in the second quarter. BNP Paribas Financial Markets now owns 3,649 shares of the company’s stock valued at $158,000 after purchasing an additional 941 shares during the last quarter. Legal & General Group Plc raised its holdings in Apogee Therapeutics by 7.4% in the second quarter. Legal & General Group Plc now owns 27,689 shares of the company’s stock worth $1,203,000 after purchasing an additional 1,907 shares in the last quarter. Invesco Ltd. lifted its position in shares of Apogee Therapeutics by 10.5% during the second quarter. Invesco Ltd. now owns 26,866 shares of the company’s stock valued at $1,167,000 after buying an additional 2,556 shares during the last quarter. Finally, E Fund Management Co. Ltd. bought a new stake in shares of Apogee Therapeutics in the 2nd quarter valued at about $204,000. 79.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on APGE shares. Zacks Research downgraded Apogee Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 14th. Bank of America increased their target price on Apogee Therapeutics from $78.00 to $87.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Wedbush restated an “outperform” rating and issued a $90.00 price target on shares of Apogee Therapeutics in a research report on Monday, August 11th. Citigroup reiterated a “buy” rating on shares of Apogee Therapeutics in a research report on Thursday, August 28th. Finally, Royal Bank Of Canada lifted their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $96.50.

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.