Apogee Therapeutics (NASDAQ:APGE) Trading Down 6.1%

Apogee Therapeutics, Inc. (NASDAQ:APGE) was down 6.1% during mid-day trading on Thursday . The stock traded as low as $48.38 and last traded at $48.38. Approximately 191,039 shares were traded during trading, a decline of 70% from the average daily volume of 635,743 shares. The stock had previously closed at $51.50.

Wall Street Analyst Weigh In

Several analysts have issued reports on APGE shares. Jefferies Financial Group boosted their price objective on Apogee Therapeutics from $37.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. 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. Guggenheim boosted their price objective on Apogee Therapeutics from $44.00 to $91.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Stifel Nicolaus boosted their price objective on Apogee Therapeutics from $46.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Finally, BTIG Research initiated coverage on Apogee Therapeutics in a report on Wednesday, December 20th. They issued a “buy” rating and a $43.00 target price on the stock. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $71.83.

Apogee Therapeutics Stock Down 6.1 %

The company has a 50 day moving average of $52.82 and a 200 day moving average of $34.03.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. American International Group Inc. lifted its holdings in shares of Apogee Therapeutics by 4.8% during the fourth quarter. American International Group Inc. now owns 10,203 shares of the company’s stock worth $285,000 after buying an additional 471 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Apogee Therapeutics by 34.0% during the fourth quarter. SG Americas Securities LLC now owns 6,607 shares of the company’s stock worth $185,000 after buying an additional 1,676 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Apogee Therapeutics by 3.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 51,100 shares of the company’s stock worth $1,428,000 after buying an additional 1,745 shares during the last quarter. Amalgamated Bank acquired a new position in shares of Apogee Therapeutics during the third quarter worth approximately $52,000. Finally, Legal & General Group Plc acquired a new position in shares of Apogee Therapeutics during the third quarter worth approximately $68,000. 79.04% of the stock is currently owned by institutional investors and hedge funds.

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.