Apogee Therapeutics Inc. (NASDAQ:APGE) Receives $124.43 Average Target Price from Analysts

Shares of Apogee Therapeutics Inc. (NASDAQ:APGE) have been assigned a consensus rating of “Hold” from the twenty ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $124.4312.

Several research analysts have commented on APGE shares. Stifel Nicolaus restated a “hold” rating and issued a $135.00 target price (up from $133.00) on shares of Apogee Therapeutics in a research report on Wednesday, June 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Apogee Therapeutics in a research note on Friday, July 17th. Royal Bank Of Canada lifted their price target on Apogee Therapeutics from $82.00 to $97.00 and gave the company a “sector perform” rating in a report on Monday, June 8th. BTIG Research downgraded Apogee Therapeutics from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 12th. Finally, Deutsche Bank Aktiengesellschaft lowered Apogee Therapeutics from a “buy” rating to a “hold” rating and increased their price objective for the stock from $116.00 to $135.00 in a report on Monday, June 22nd.

Insider Buying and Selling at Apogee Therapeutics

In other news, insider Carl Dambkowski sold 5,500 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $134.17, for a total value of $737,935.00. Following the completion of the transaction, the insider owned 168,498 shares of the company’s stock, valued at approximately $22,607,376.66. This represents a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Thomas Henderson sold 20,000 shares of the firm’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $133.63, for a total value of $2,672,600.00. Following the transaction, the chief executive officer directly owned 995,987 shares in the company, valued at $133,093,742.81. This trade represents a 1.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 162,900 shares of company stock worth $20,344,950 in the last ninety days. 24.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Apogee Therapeutics

Institutional investors have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. bought a new position in shares of Apogee Therapeutics in the fourth quarter valued at approximately $25,000. Los Angeles Capital Management LLC bought a new stake in Apogee Therapeutics during the fourth quarter worth approximately $37,000. GAMMA Investing LLC lifted its position in Apogee Therapeutics by 40.5% in the second quarter. GAMMA Investing LLC now owns 309 shares of the company’s stock worth $41,000 after purchasing an additional 89 shares during the period. EverSource Wealth Advisors LLC lifted its position in Apogee Therapeutics by 61.7% in the first quarter. EverSource Wealth Advisors LLC now owns 645 shares of the company’s stock worth $54,000 after purchasing an additional 246 shares during the period. Finally, Longfellow Investment Management Co. LLC bought a new position in Apogee Therapeutics during the 2nd quarter valued at $81,000. Institutional investors and hedge funds own 79.04% of the company’s stock.

Apogee Therapeutics Stock Performance

Shares of APGE opened at $134.59 on Friday. Apogee Therapeutics has a 1 year low of $35.39 and a 1 year high of $134.88. The company has a market cap of $8.37 billion, a price-to-earnings ratio of -31.01 and a beta of 0.34. The firm has a fifty day moving average of $125.45 and a 200-day moving average of $94.43.

Apogee Therapeutics (NASDAQ:APGE) last released its quarterly earnings data on Monday, August 10th. The company reported ($1.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.07). Analysts predict that Apogee Therapeutics will post -4.47 EPS for the current year.

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.