Apogee Therapeutics (NASDAQ:APGE) Posts Quarterly Earnings Results, Beats Estimates By $0.24 EPS

Apogee Therapeutics (NASDAQ:APGE) announced its quarterly earnings data on Monday. The company reported ($0.95) EPS for the quarter, beating the consensus estimate of ($1.19) by $0.24, Zacks reports.

Apogee Therapeutics Stock Up 0.4%

Shares of NASDAQ:APGE opened at $39.74 on Wednesday. Apogee Therapeutics has a 52-week low of $26.20 and a 52-week high of $63.50. The stock has a market cap of $1.78 billion, a P/E ratio of -16.42 and a beta of 1.70. The business’s 50 day moving average is $36.51 and its 200 day moving average is $41.41.

Insider Buying and Selling

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 10,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $30.15, for a total transaction of $301,500.00. Following the sale, the chief executive officer now owns 1,292,987 shares of the company’s stock, valued at approximately $38,983,558.05. This trade represents a 0.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Carl Dambkowski sold 1,590 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $30.48, for a total value of $48,463.20. Following the sale, the insider now directly owns 251,033 shares in the company, valued at $7,651,485.84. This trade represents a 0.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,175 shares of company stock valued at $587,191 over the last quarter. 36.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Wedbush reissued an “outperform” rating and set a $90.00 price objective on shares of Apogee Therapeutics in a research note on Tuesday, March 11th. Guggenheim reaffirmed a “buy” rating on shares of Apogee Therapeutics in a research note on Monday, February 10th. Finally, Citigroup initiated coverage on Apogee Therapeutics in a research note on Thursday, March 13th. They set a “buy” rating and a $95.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $94.60.

About Apogee Therapeutics

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.