Apogee Therapeutics (NASDAQ:APGE) Trading Down 6.2%

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

Analyst Upgrades and Downgrades

APGE has been the subject of several research reports. Guggenheim boosted their price target on Apogee Therapeutics from $44.00 to $91.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Wedbush reiterated an “outperform” rating and set a $87.00 price target (up from $40.00) on shares of Apogee Therapeutics in a research report on Tuesday, March 5th. Stifel Nicolaus upped their target price on Apogee Therapeutics from $46.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Finally, Jefferies Financial Group upped their target price on Apogee Therapeutics from $37.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $71.83.

Apogee Therapeutics Stock Down 6.5 %

The company has a 50 day moving average price of $53.81 and a 200 day moving average price of $34.89.

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

Institutional Investors Weigh In On Apogee Therapeutics

Several large investors have recently added to or reduced their stakes in APGE. SG Americas Securities LLC purchased a new stake in shares of Apogee Therapeutics in the 3rd quarter valued at approximately $105,000. Bank of New York Mellon Corp purchased a new stake in shares of Apogee Therapeutics in the 3rd quarter valued at approximately $1,271,000. Strs Ohio purchased a new stake in shares of Apogee Therapeutics in the 3rd quarter valued at approximately $87,000. TD Asset Management Inc purchased a new stake in shares of Apogee Therapeutics in the 3rd quarter valued at approximately $677,000. Finally, Platinum Investment Management Ltd. purchased a new stake in shares of Apogee Therapeutics in the 3rd quarter valued at approximately $6,042,000. 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.