Apogee Therapeutics (NASDAQ:APGE) Stock Price Up 3.3%

Apogee Therapeutics, Inc. (NASDAQ:APGE)’s share price traded up 3.3% during trading on Wednesday . The company traded as high as $52.53 and last traded at $52.34. 12,165 shares traded hands during mid-day trading, a decline of 98% from the average session volume of 635,828 shares. The stock had previously closed at $50.66.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Jefferies Financial Group lifted their price objective on Apogee Therapeutics from $37.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Stifel Nicolaus boosted their price objective on Apogee Therapeutics from $46.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Wedbush restated an “outperform” rating and set a $87.00 price objective (up previously from $40.00) on shares of Apogee Therapeutics in a report on Tuesday, March 5th. BTIG Research started coverage on Apogee Therapeutics in a report on Wednesday, December 20th. They set a “buy” rating and a $43.00 price objective for the company. Finally, Guggenheim boosted their price objective on Apogee Therapeutics from $44.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $71.83.

Apogee Therapeutics Price Performance

The business has a 50 day simple moving average of $52.52 and a 200-day simple moving average of $33.91.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in APGE. FMR LLC purchased a new position in shares of Apogee Therapeutics during the 3rd quarter valued at $89,619,000. RTW Investments LP purchased a new position in shares of Apogee Therapeutics during the 3rd quarter valued at $45,637,000. RA Capital Management L.P. purchased a new position in shares of Apogee Therapeutics during the 3rd quarter valued at $42,129,000. Wellington Management Group LLP purchased a new position in shares of Apogee Therapeutics during the 3rd quarter valued at $33,037,000. Finally, Vanguard Group Inc. purchased a new position in shares of Apogee Therapeutics during the 3rd quarter valued at $23,894,000. Hedge funds and other 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.