Apogee Therapeutics Inc. (NASDAQ:APGE) Given Consensus Recommendation of “Hold” by Brokerages

Apogee Therapeutics Inc. (NASDAQ:APGE) has earned an average recommendation of “Hold” from the twenty-one analysts that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, fifteen have assigned a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $121.2547.

Several equities analysts have issued reports on APGE shares. Truist Financial cut their target price on Apogee Therapeutics from $83.00 to $81.00 and set a “hold” rating on the stock in a research note on Wednesday, May 27th. The Goldman Sachs Group set a $89.00 price target on shares of Apogee Therapeutics in a research report on Thursday, May 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Apogee Therapeutics in a report on Friday. TD Cowen downgraded shares of Apogee Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $135.00 price objective (up from $133.00) on shares of Apogee Therapeutics in a research note on Wednesday, June 24th.

Apogee Therapeutics Trading Up 0.1%

Shares of NASDAQ:APGE opened at $134.15 on Tuesday. The company has a market capitalization of $8.30 billion, a PE ratio of -30.98 and a beta of 0.32. Apogee Therapeutics has a 12-month low of $34.34 and a 12-month high of $134.32. The business’s fifty day simple moving average is $104.47 and its 200-day simple moving average is $86.46.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly earnings data on Monday, May 11th. The company reported ($1.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.07) by $0.01. Research analysts predict that Apogee Therapeutics will post -4.45 EPS for the current year.

Insider Activity at Apogee Therapeutics

In other news, insider Carl Dambkowski sold 5,500 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $132.74, for a total transaction of $730,070.00. Following the transaction, the insider directly owned 177,873 shares of the company’s stock, valued at approximately $23,610,862.02. This represents a 3.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Thomas Henderson sold 20,000 shares of the 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 sale, the chief executive officer owned 995,987 shares of the company’s stock, valued at approximately $133,093,742.81. This represents a 1.97% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 182,900 shares of company stock valued at $21,711,585. 24.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in APGE. Rockefeller Capital Management L.P. acquired a new position in Apogee Therapeutics during the 4th quarter valued at about $25,000. Los Angeles Capital Management LLC acquired a new stake in Apogee Therapeutics in the fourth quarter worth about $37,000. GAMMA Investing LLC grew its stake in shares of Apogee Therapeutics by 40.5% during the second quarter. GAMMA Investing LLC now owns 309 shares of the company’s stock worth $41,000 after acquiring an additional 89 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Apogee Therapeutics by 61.7% during the first quarter. EverSource Wealth Advisors LLC now owns 645 shares of the company’s stock worth $54,000 after acquiring an additional 246 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Apogee Therapeutics during the third quarter valued at about $96,000. 79.04% of the stock is owned by institutional investors and hedge funds.

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.