Apogee Therapeutics (NASDAQ:APGE) Trading Down 6.2%

Apogee Therapeutics, Inc. (NASDAQ:APGE) shares traded down 6.2% on Wednesday . The company traded as low as $46.52 and last traded at $46.67. 102,297 shares were traded during trading, a decline of 83% from the average session volume of 619,341 shares. The stock had previously closed at $49.77.

Wall Street Analysts Forecast Growth

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

Apogee Therapeutics Stock Performance

The business’s 50 day simple moving average is $54.24 and its 200 day simple moving average is $35.05.

Apogee Therapeutics (NASDAQ:APGE) last released its quarterly earnings results 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. As a group, equities analysts predict that Apogee Therapeutics, Inc. will post -2.67 EPS for the current fiscal year.

Institutional Investors Weigh In On Apogee Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP raised its stake in shares of Apogee Therapeutics by 0.3% in the 4th quarter. Wellington Management Group LLP now owns 1,591,478 shares of the company’s stock valued at $44,358,000 after acquiring an additional 4,749 shares during the period. Blackstone Inc. increased its stake in Apogee Therapeutics by 17.6% during the 4th quarter. Blackstone Inc. now owns 351,810 shares of the company’s stock worth $9,830,000 after buying an additional 52,688 shares during the period. Braidwell LP increased its stake in Apogee Therapeutics by 38.7% during the 4th quarter. Braidwell LP now owns 681,101 shares of the company’s stock worth $19,030,000 after buying an additional 189,988 shares during the period. Artia Global Partners LP purchased a new stake in Apogee Therapeutics during the 4th quarter worth approximately $290,000. Finally, TD Asset Management Inc increased its stake in Apogee Therapeutics by 217.2% during the 4th quarter. TD Asset Management Inc now owns 100,846 shares of the company’s stock worth $2,818,000 after buying an additional 69,052 shares during the period. 79.04% of the stock is owned by hedge funds and other institutional investors.

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.