Apogee Therapeutics Inc. (NASDAQ:APGE) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Apogee Therapeutics Inc. (NASDAQ:APGE) have been assigned an average rating of “Moderate Buy” from the fifteen brokerages that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, eight have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $104.5833.

APGE has been the subject of a number of recent research reports. BTIG Research set a $137.00 target price on Apogee Therapeutics in a report on Tuesday, January 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Apogee Therapeutics in a research report on Wednesday, January 21st. Wolfe Research started coverage on shares of Apogee Therapeutics in a research report on Wednesday, January 7th. They set a “peer perform” rating on the stock. Craig Hallum reissued a “buy” rating and issued a $116.00 target price on shares of Apogee Therapeutics in a research note on Wednesday, January 7th. Finally, Stephens assumed coverage on shares of Apogee Therapeutics in a report on Tuesday, December 16th. They issued an “overweight” rating and a $95.00 target price for the company.

Apogee Therapeutics Trading Down 0.5%

APGE opened at $70.89 on Friday. The stock has a 50-day moving average of $73.38 and a 200 day moving average of $59.17. Apogee Therapeutics has a 12 month low of $26.20 and a 12 month high of $84.56. The firm has a market cap of $4.84 billion, a P/E ratio of -16.18 and a beta of 1.42.

Insider Buying and Selling at Apogee Therapeutics

In other news, Director Fairmount Funds Management Llc sold 1,750,000 shares of the company’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $76.30, for a total transaction of $133,525,000.00. Following the transaction, the director owned 298,647 shares of the company’s stock, valued at approximately $22,786,766.10. This represents a 85.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Carl Dambkowski sold 18,700 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $77.84, for a total value of $1,455,608.00. Following the sale, the insider directly owned 212,523 shares of the company’s stock, valued at $16,542,790.32. This represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,885,100 shares of company stock worth $143,557,153 over the last 90 days. Company insiders own 42.77% of the company’s stock.

Institutional Investors Weigh In On Apogee Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC boosted its position in Apogee Therapeutics by 2.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 7,151 shares of the company’s stock valued at $540,000 after buying an additional 152 shares during the period. Stifel Financial Corp boosted its holdings in shares of Apogee Therapeutics by 3.5% in the fourth quarter. Stifel Financial Corp now owns 5,214 shares of the company’s stock valued at $394,000 after purchasing an additional 175 shares during the period. ANTIPODES PARTNERS Ltd grew its stake in Apogee Therapeutics by 41.2% in the third quarter. ANTIPODES PARTNERS Ltd now owns 843 shares of the company’s stock worth $33,000 after purchasing an additional 246 shares in the last quarter. Comerica Bank increased its holdings in Apogee Therapeutics by 1.0% during the 4th quarter. Comerica Bank now owns 35,872 shares of the company’s stock worth $2,708,000 after purchasing an additional 338 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Apogee Therapeutics by 99.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 769 shares of the company’s stock worth $33,000 after buying an additional 383 shares during the period. Institutional investors own 79.04% of the company’s stock.

Apogee Therapeutics Company Profile

Apogee Therapeutics, Inc is a clinical-stage biotechnology company dedicated to the discovery and development of novel small molecule therapeutics that selectively target the nuclear receptor ROR?t, a master regulator of T cell-driven inflammatory pathways. By modulating ROR?t activity, Apogee aims to offer an oral treatment option for patients with autoimmune and inflammatory skin disorders.

The company’s lead candidate, APG-157, is an oral ROR?t inverse agonist currently undergoing early-stage clinical evaluation for moderate to severe plaque psoriasis.