Wedbush Forecasts Reduced Earnings for Apogee Therapeutics

Apogee Therapeutics, Inc. (NASDAQ:APGE) – Stock analysts at Wedbush decreased their FY2024 earnings estimates for Apogee Therapeutics in a research report issued to clients and investors on Tuesday, November 12th. Wedbush analyst D. Nierengarten now anticipates that the company will post earnings per share of ($3.10) for the year, down from their previous estimate of ($2.67). Wedbush currently has a “Outperform” rating and a $87.00 target price on the stock. The consensus estimate for Apogee Therapeutics’ current full-year earnings is ($2.57) per share. Wedbush also issued estimates for Apogee Therapeutics’ Q4 2024 earnings at ($0.97) EPS, Q1 2025 earnings at ($0.99) EPS, Q2 2025 earnings at ($1.01) EPS, Q3 2025 earnings at ($0.95) EPS, Q4 2025 earnings at ($0.94) EPS, FY2025 earnings at ($3.90) EPS, FY2026 earnings at ($3.97) EPS, FY2027 earnings at ($4.35) EPS and FY2028 earnings at ($5.69) EPS.

Apogee Therapeutics Stock Down 7.4 %

Shares of NASDAQ:APGE opened at $47.25 on Friday. The firm has a market cap of $2.13 billion, a P/E ratio of -19.52 and a beta of 2.93. Apogee Therapeutics has a 12-month low of $16.39 and a 12-month high of $72.29. The business has a fifty day simple moving average of $54.78 and a 200 day simple moving average of $48.99.

Insider Activity

In other Apogee Therapeutics news, CFO Jane Henderson sold 6,000 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $48.26, for a total transaction of $289,560.00. Following the sale, the chief financial officer now owns 200,871 shares of the company’s stock, valued at approximately $9,694,034.46. This represents a 2.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Carl Dambkowski sold 6,665 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $47.56, for a total value of $316,987.40. Following the sale, the insider now owns 280,793 shares of the company’s stock, valued at approximately $13,354,515.08. The trade was a 2.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 120,995 shares of company stock valued at $6,417,855. Company insiders own 36.10% of the company’s stock.

Institutional Investors Weigh In On Apogee Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in APGE. Geode Capital Management LLC lifted its stake in Apogee Therapeutics by 11.2% in the third quarter. Geode Capital Management LLC now owns 823,839 shares of the company’s stock valued at $48,401,000 after buying an additional 82,978 shares during the period. Barclays PLC increased its stake in shares of Apogee Therapeutics by 369.2% in the 3rd quarter. Barclays PLC now owns 365,046 shares of the company’s stock valued at $21,443,000 after acquiring an additional 287,243 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Apogee Therapeutics by 35.7% during the 3rd quarter. Wellington Management Group LLP now owns 4,814,400 shares of the company’s stock valued at $282,798,000 after acquiring an additional 1,267,451 shares during the period. Wexford Capital LP bought a new position in Apogee Therapeutics during the third quarter worth $230,000. Finally, Point72 DIFC Ltd grew its holdings in Apogee Therapeutics by 14.5% in the third quarter. Point72 DIFC Ltd now owns 19,207 shares of the company’s stock worth $1,128,000 after purchasing an additional 2,428 shares during the period. 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.