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

Shares of Apogee Therapeutics Inc. (NASDAQ:APGE) have been given an average rating of “Moderate Buy” by the eighteen analysts that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, eleven have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $113.6250.

A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group set a $89.00 target price on shares of Apogee Therapeutics in a research note on Thursday. Canaccord Genuity Group boosted their target price on shares of Apogee Therapeutics from $89.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th. BTIG Research reiterated a “buy” rating and set a $137.00 target price on shares of Apogee Therapeutics in a research note on Wednesday, May 27th. Guggenheim boosted their target price on shares of Apogee Therapeutics from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th. Finally, Royal Bank Of Canada decreased their target price on Apogee Therapeutics from $83.00 to $82.00 and set a “sector perform” rating on the stock in a report on Monday, March 2nd.

Insiders Place Their Bets

In related news, insider Carl Dambkowski sold 5,500 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $84.14, for a total value of $462,770.00. Following the transaction, the insider directly owned 207,023 shares of the company’s stock, valued at approximately $17,418,915.22. This trade represents a 2.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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, March 11th. The stock was sold at an average price of $74.78, for a total value of $1,495,600.00. Following the completion of the transaction, the chief executive officer directly owned 1,152,987 shares in the company, valued at approximately $86,220,367.86. This represents a 1.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 76,500 shares of company stock worth $6,109,220. 24.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Apogee Therapeutics

A number of institutional investors have recently bought and sold shares of APGE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Apogee Therapeutics by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,529 shares of the company’s stock worth $921,000 after buying an additional 694 shares in the last quarter. Millennium Management LLC increased its stake 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 buying an additional 130,164 shares in the last quarter. Creative Planning purchased a new stake in Apogee Therapeutics in the 2nd quarter worth $392,000. Legal & General Group Plc increased its stake in Apogee Therapeutics by 7.4% in the 2nd quarter. Legal & General Group Plc now owns 27,689 shares of the company’s stock worth $1,203,000 after buying an additional 1,907 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Apogee Therapeutics by 10,570.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 21,768 shares of the company’s stock worth $945,000 after buying an additional 21,564 shares in the last quarter. 79.04% of the stock is owned by institutional investors.

Apogee Therapeutics Stock Performance

Shares of APGE opened at $82.14 on Monday. The firm has a market cap of $5.08 billion, a PE ratio of -18.97 and a beta of 0.62. The firm has a fifty day simple moving average of $82.88 and a two-hundred day simple moving average of $75.96. Apogee Therapeutics has a 1-year low of $34.34 and a 1-year high of $95.32.

Apogee Therapeutics (NASDAQ:APGE) last announced its earnings results on Monday, May 11th. The company reported ($1.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.07) by $0.01. As a group, research analysts forecast that Apogee Therapeutics will post -4.28 EPS for the current fiscal 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 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.