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

Shares of Apogee Therapeutics Inc. (NASDAQ:APGE) have received an average rating of “Moderate Buy” from the fourteen analysts that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, seven have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $105.4545.

Several research firms have commented on APGE. Wolfe Research initiated coverage on shares of Apogee Therapeutics in a research report on Wednesday, January 7th. They set a “peer perform” rating for the company. UBS Group raised shares of Apogee Therapeutics to a “strong-buy” rating in a report on Wednesday, January 7th. Stifel Nicolaus set a $133.00 price objective on Apogee Therapeutics in a research note on Tuesday, January 6th. Stephens assumed coverage on Apogee Therapeutics in a research report on Tuesday, December 16th. They set an “overweight” rating and a $95.00 price objective on the stock. Finally, Royal Bank Of Canada lowered Apogee Therapeutics from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from $70.00 to $83.00 in a research note on Thursday.

Apogee Therapeutics Price Performance

NASDAQ APGE opened at $70.02 on Tuesday. Apogee Therapeutics has a 1-year low of $26.20 and a 1-year high of $84.56. The business has a 50 day simple moving average of $75.21 and a two-hundred day simple moving average of $54.78. The stock has a market capitalization of $4.78 billion, a PE ratio of -15.99 and a beta of 1.41.

Apogee Therapeutics (NASDAQ:APGE) last posted its earnings results on Monday, November 10th. The company reported ($1.11) EPS for the quarter, beating analysts’ consensus estimates of ($1.14) by $0.03. On average, analysts anticipate that Apogee Therapeutics will post -3.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 40,000 shares of Apogee Therapeutics stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $75.01, for a total transaction of $3,000,400.00. Following the completion of the transaction, the chief executive officer directly owned 1,232,987 shares of the company’s stock, valued at $92,486,354.87. The trade was a 3.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Carl Dambkowski sold 18,700 shares of the stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $77.84, for a total transaction of $1,455,608.00. Following the completion of the sale, the insider directly owned 212,523 shares in the company, 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 sold 1,890,385 shares of company stock valued at $143,782,438 over the last three months. 42.77% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Apogee Therapeutics by 2.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,529 shares of the company’s stock valued at $921,000 after buying an additional 694 shares during the last quarter. Millennium Management LLC boosted its holdings in Apogee Therapeutics by 100.0% during the 1st quarter. Millennium Management LLC now owns 260,335 shares of the company’s stock valued at $9,726,000 after acquiring an additional 130,164 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Apogee Therapeutics by 18.0% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,779 shares of the company’s stock valued at $77,000 after acquiring an additional 272 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in Apogee Therapeutics in the 2nd quarter valued at $218,000. Finally, AlphaQuest LLC increased its stake in Apogee Therapeutics by 344.6% in the second quarter. AlphaQuest LLC now owns 5,073 shares of the company’s stock worth $220,000 after purchasing an additional 3,932 shares during the period. Hedge funds and other institutional investors own 79.04% of the company’s stock.

About Apogee Therapeutics

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 RORγt, a master regulator of T cell-driven inflammatory pathways. By modulating RORγt 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 RORγt inverse agonist currently undergoing early-stage clinical evaluation for moderate to severe plaque psoriasis.