Apogee Therapeutics (NASDAQ:APGE) Sets New 1-Year High – Still a Buy?

Apogee Therapeutics Inc. (NASDAQ:APGE) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $81.42 and last traded at $82.2250, with a volume of 189343 shares. The stock had previously closed at $79.00.

Analyst Upgrades and Downgrades

APGE has been the topic of a number of recent research reports. UBS Group upgraded shares of Apogee Therapeutics to a “strong-buy” rating in a research report on Wednesday, January 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Apogee Therapeutics in a report on Wednesday, October 8th. Royal Bank Of Canada restated an “outperform” rating on shares of Apogee Therapeutics in a research report on Tuesday, January 6th. BTIG Research set a $137.00 price objective on Apogee Therapeutics in a research note on Tuesday, January 6th. Finally, Mizuho started coverage on Apogee Therapeutics in a research note on Tuesday, October 21st. They issued an “outperform” rating and a $105.00 target price on the stock. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $104.27.

Apogee Therapeutics Stock Up 6.3%

The company’s fifty day moving average price is $71.86 and its 200-day moving average price is $52.46. The stock has a market capitalization of $5.74 billion, a PE ratio of -19.18 and a beta of 1.41.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly earnings data on Monday, November 10th. The company reported ($1.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.14) by $0.03. Equities research analysts anticipate that Apogee Therapeutics Inc. will post -3.09 earnings per share for the current year.

Insider Transactions at Apogee Therapeutics

In other news, CEO Michael Thomas Henderson sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $75.38, for a total value of $1,507,600.00. Following the transaction, the chief executive officer owned 1,212,987 shares in the company, valued at approximately $91,434,960.06. This represents a 1.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Carl Dambkowski sold 18,700 shares of the stock in a transaction that occurred 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 sale, the insider owned 212,523 shares in the company, valued at approximately $16,542,790.32. The trade was a 8.09% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 120,385 shares of company stock valued at $8,635,238. 42.77% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position 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 lifted its stake 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. Rhumbline Advisers boosted its holdings in shares of Apogee Therapeutics by 3.2% during the 1st quarter. Rhumbline Advisers now owns 54,385 shares of the company’s stock valued at $2,032,000 after acquiring an additional 1,665 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Apogee Therapeutics by 18.0% during 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. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Apogee Therapeutics in the second quarter worth approximately $218,000. 79.04% of the stock is owned by institutional investors.

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.