Is Apogee Therapeutics Inc. (APGE) positioned for future growth?

Apogee Therapeutics Inc. (NASDAQ: APGE) stock fell -1.06% on Friday to $20.57 against a previous-day closing price of $20.79. With 4.17 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.31 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $20.92 whereas the lowest price it dropped to was $19.96. The 52-week range on APGE shows that it touched its highest point at $25.54 and its lowest point at $19.98 during that stretch. It currently has a 1-year price target of $33.00.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of APGE was down-trending over the past week, with a drop of -11.30%, but this was down by -11.30% over a month.

Float and Shares Shorts:

At present, 50.67 million APGE shares are outstanding with a float of 32.70 million shares on hand for trading. On Aug 30, 2023, short shares totaled 0.74 million, which was 1.46% higher than short shares on Jul 30, 2023. In addition to Dr. Michael Thomas Henderson M.D. as the firm’s CEO & Director, Dr. Carl Linden Dambkowski M.D. serves as its Chief Medical Officer.

Institutional Ownership:

Through their ownership of 44.37% of APGE’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 7.58% of APGE, in contrast to 26.89% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in APGE with 8.13% of the stake, Deep Track Capital LP holds 3,023,456 shares worth 3,023,456. A second-largest stockholder of APGE, Fairmount Funds Management LLC, holds 2,941,176 shares, controlling over 7.91% of the firm’s shares. RTW Investments LP is the third largest shareholder in APGE, holding 1,742,592 shares or 4.69% stake. With a 1.20% stake in APGE, the Franklin Small Cap Growth Fund is the largest stakeholder. A total of 446,800 shares are owned by the mutual fund manager. The FTIF SICAV – Biotechnology Discov, which owns about 0.81% of APGE stock, is the second-largest Mutual Fund holder. It holds 299,932 shares valued at 6.88 million. Fidelity Growth Company Fund holds 0.75% of the stake in APGE, owning 279,900 shares worth 6.42 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, APGE reported revenue of $0.00 and operating income of -$1.82M. The EBITDA in the recently reported quarter was -$1.82M and diluted EPS was -$0.07.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for APGE since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With APGE analysts setting a high price target of $40.00 and a low target of $29.00, the average target price over the next 12 months is $33.00. Based on these targets, APGE could surge 94.46% to reach the target high and rise by 40.98% to reach the target low. Reaching the average price target will result in a growth of 60.43% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

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