Apogee Therapeutics (NASDAQ:APGE) Price Target Raised to $95.00

Apogee Therapeutics (NASDAQ:APGE) had its price target hoisted by Wedbush from $90.00 to $95.00 in a research note published on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts have also commented on APGE. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Apogee Therapeutics in a research report on Tuesday, December 9th. They set a “buy” rating and a $103.00 target price on the stock. Royal Bank Of Canada dropped their price objective on Apogee Therapeutics from $83.00 to $82.00 and set a “sector perform” rating on the stock in a research note on Monday. Craig Hallum restated a “buy” rating and set a $116.00 price objective on shares of Apogee Therapeutics in a report on Wednesday, January 7th. Wolfe Research began coverage on Apogee Therapeutics in a research report on Wednesday, January 7th. They set a “peer perform” rating for the company. Finally, Stifel Nicolaus set a $133.00 price target on Apogee Therapeutics in a research report on Tuesday, January 6th. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.92.

Apogee Therapeutics Stock Down 1.9%

APGE stock opened at $70.92 on Tuesday. The business’s fifty day simple moving average is $72.47 and its two-hundred day simple moving average is $60.41. Apogee Therapeutics has a twelve month low of $26.20 and a twelve month high of $84.56. The firm has a market cap of $4.93 billion, a price-to-earnings ratio of -16.81 and a beta of 1.39.

Apogee Therapeutics (NASDAQ:APGE) last issued its earnings results on Monday, March 2nd. The company reported ($1.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.05) by $0.02. Research analysts expect that Apogee Therapeutics will post -3.09 EPS for the current year.

Insider Activity at Apogee Therapeutics

In other Apogee Therapeutics news, Director Fairmount Funds Management Llc sold 1,750,000 shares of the firm’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $76.30, for a total value of $133,525,000.00. Following the completion of the transaction, the director owned 298,647 shares of the company’s stock, valued at approximately $22,786,766.10. This trade represents a 85.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Carl Dambkowski sold 18,700 shares of Apogee Therapeutics stock in a transaction dated 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 approximately $16,542,790.32. This represents a 8.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,834,200 shares of company stock valued at $139,739,253 in the last ninety days. Corporate insiders own 42.77% of the company’s stock.

Institutional Trading of Apogee Therapeutics

Hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Apogee Therapeutics by 2.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,529 shares of the company’s stock worth $921,000 after acquiring an additional 694 shares in the last quarter. Millennium Management LLC raised its holdings in Apogee Therapeutics by 100.0% in the 1st quarter. Millennium Management LLC now owns 260,335 shares of the company’s stock worth $9,726,000 after purchasing an additional 130,164 shares during the period. Nisa Investment Advisors LLC grew its holdings in Apogee Therapeutics by 99.2% in the second quarter. Nisa Investment Advisors LLC now owns 769 shares of the company’s stock valued at $33,000 after purchasing an additional 383 shares during the period. Fox Run Management L.L.C. acquired a new stake in Apogee Therapeutics in the second quarter valued at approximately $437,000. Finally, Lisanti Capital Growth LLC purchased a new stake in shares of Apogee Therapeutics in the second quarter valued at approximately $800,000. Hedge funds and other 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.