Apogee Therapeutics (NASDAQ:APGE) Trading Up 4.1%

Apogee Therapeutics, Inc. (NASDAQ:APGE)’s share price shot up 4.1% during mid-day trading on Monday . The stock traded as high as $21.76 and last traded at $21.41. 54,218 shares traded hands during trading, a decline of 81% from the average session volume of 292,933 shares. The stock had previously closed at $20.57.

Wall Street Analysts Forecast Growth

APGE has been the topic of several recent analyst reports. Guggenheim assumed coverage on Apogee Therapeutics in a report on Tuesday, August 8th. They issued a “buy” rating and a $29.00 target price on the stock. Wedbush began coverage on shares of Apogee Therapeutics in a research note on Tuesday, August 8th. They issued an “outperform” rating and a $40.00 price target on the stock. Jefferies Financial Group initiated coverage on shares of Apogee Therapeutics in a research report on Tuesday, August 8th. They set a “buy” rating and a $29.00 price objective for the company. William Blair reiterated an “outperform” rating and set a $40.00 price target on shares of Apogee Therapeutics in a research note on Monday, August 28th. Finally, TD Cowen began coverage on shares of Apogee Therapeutics in a research note on Tuesday, August 8th. They issued an “outperform” rating for the company. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $34.40.

Apogee Therapeutics Stock Performance

The firm’s fifty day simple moving average is $22.27.

Apogee Therapeutics (NASDAQ:APGE) last announced its earnings results on Monday, August 28th. The company reported ($3.78) EPS for the quarter, missing analysts’ consensus estimates of ($2.49) by ($1.29). Research analysts predict that Apogee Therapeutics, Inc. will post -2.22 EPS for the current year.

Insiders Place Their Bets

In related news, Director Nimish P. Shah bought 1,750,000 shares of the company’s stock in a transaction dated Thursday, July 13th. The shares were acquired at an average price of $17.00 per share, with a total value of $29,750,000.00. Following the completion of the acquisition, the director now owns 1,750,000 shares in the company, valued at approximately $29,750,000. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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), 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.