Apogee Therapeutics Inc. (NASDAQ: APGE) has seen a decline in its stock price by -4.06 in relation to its previous close of 21.67. However, the company has experienced a -11.98% decline in its stock price over the last five trading sessions. Seeking Alpha reported 2023-08-22 that Review of Apogee Therapeutics’ safety and pharmacokinetic data from phase 1 study using APG777 in healthy volunteers expected in mid-2024. Pending positive phase 1 safety and pharmacokinetic data using APG777, the initiation of a 16-week phase 2 study in atopic dermatitis patients is expected in 2024. The global atopic dermatitis market size is projected to reach $22.6 billion by 2031.
Is It Worth Investing in Apogee Therapeutics Inc. (NASDAQ: APGE) Right Now?
There are mixed opinions on the stock, with 5 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
The average price estimated by analysts for APGE is $33.00, which is $12.21 above than the current price. The public float for APGE is 32.70M, and at present, short sellers hold a 2.27% of that float. The average trading volume of APGE on September 15, 2023 was 310.80K shares.
APGE’s Market Performance
The volatility ratio for the week is 5.87%, and the volatility levels for the last 30 days are 5.71% for Apogee Therapeutics Inc. (APGE). The simple moving average for the last 20 days is -11.86% for APGE stock, with a simple moving average of -6.61% for the last 200 days.
Analysts’ Opinion of APGE
Many brokerage firms have already submitted their reports for APGE stocks, with Wedbush repeating the rating for APGE by listing it as a “Outperform.” The predicted price for APGE in the upcoming period, according to Wedbush is $40 based on the research report published on August 08, 2023 of the current year 2023.
APGE Trading at -6.61% from the 50-Day Moving Average
After a stumble in the market that brought APGE to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -18.60% of loss for the given period.
Volatility was left at 5.71%, however, over the last 30 days, the volatility rate increased by 5.87%, as shares sank -10.35% for the moving average over the last 20 days.
During the last 5 trading sessions, APGE fell by -11.98%, in comparison to the 20-day moving average, which settled at $23.47. In addition, Apogee Therapeutics Inc. saw -2.07% in overturn over a single year, with a tendency to cut further losses.
Reports are indicating that there were more than several insider trading activities at APGE starting from Fairmount Funds Management LLC, who purchase 2,941,176 shares at the price of $17.00 back on Jul 13. After this action, Fairmount Funds Management LLC now owns 1,992,734 shares of Apogee Therapeutics Inc., valued at $49,999,992 using the latest closing price.
Shah Nimish P, the Director of Apogee Therapeutics Inc., purchase 1,750,000 shares at $17.00 during a trade that took place back on Jul 13, which means that Shah Nimish P is holding 1,750,000 shares at $29,750,000 based on the most recent closing price.
In summary, Apogee Therapeutics Inc. (APGE) has had a bad performance as of late. Analysts have bullish opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.