Apogee Therapeutics (NASDAQ:APGE) Hits New 52-Week Low – Here’s Why

Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $31.90 and last traded at $32.69, with a volume of 128851 shares traded. The stock had previously closed at $33.37.

Analysts Set New Price Targets

Several research firms have issued reports on APGE. Wedbush increased their price objective on Apogee Therapeutics from $87.00 to $90.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Canaccord Genuity Group initiated coverage on shares of Apogee Therapeutics in a research note on Monday, November 25th. They set a “buy” rating and a $89.00 price target on the stock. Guggenheim reaffirmed a “buy” rating on shares of Apogee Therapeutics in a research report on Monday, February 10th. Finally, Canaccord Genuity Group initiated coverage on shares of Apogee Therapeutics in a research note on Monday, November 25th. They set a “buy” rating and a $89.00 price objective on the stock. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $89.71.

Apogee Therapeutics Trading Down 1.3 %

The firm has a market capitalization of $1.48 billion, a P/E ratio of -13.63 and a beta of 2.18. The business’s fifty day moving average is $41.56 and its 200 day moving average is $47.75.

Insider Activity

In other news, CEO Michael Thomas Henderson sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $40.58, for a total transaction of $608,700.00. Following the completion of the transaction, the chief executive officer now directly owns 1,302,987 shares in the company, valued at $52,875,212.46. The trade was a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Carl Dambkowski sold 3,520 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $40.69, for a total value of $143,228.80. Following the completion of the sale, the insider now owns 252,623 shares in the company, valued at approximately $10,279,229.87. This represents a 1.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 63,810 shares of company stock worth $2,903,556. Insiders own 36.10% of the company’s stock.

Institutional Trading of Apogee Therapeutics

Several institutional investors have recently bought and sold shares of APGE. GF Fund Management CO. LTD. bought a new position in Apogee Therapeutics in the 4th quarter valued at $43,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Apogee Therapeutics in the 3rd quarter valued at about $71,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Apogee Therapeutics by 21.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,628 shares of the company’s stock worth $94,000 after buying an additional 285 shares during the period. Optimize Financial Inc bought a new stake in shares of Apogee Therapeutics during the fourth quarter worth approximately $203,000. Finally, Aigen Investment Management LP acquired a new position in Apogee Therapeutics in the fourth quarter valued at approximately $216,000. Institutional investors and hedge funds own 79.04% of the company’s stock.

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.