Apogee Therapeutics Inc. (NASDAQ:APGE) Given Average Rating of “Moderate Buy” by Brokerages

Apogee Therapeutics Inc. (NASDAQ:APGE) has received a consensus recommendation of “Moderate Buy” from the eighteen brokerages that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $112.7333.

A number of analysts recently issued reports on APGE shares. Citigroup increased their price target on shares of Apogee Therapeutics from $95.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Apogee Therapeutics in a research note on Monday, April 20th. Canaccord Genuity Group raised their target price on Apogee Therapeutics from $89.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Wedbush upped their price target on Apogee Therapeutics from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, March 3rd. Finally, Truist Financial began coverage on Apogee Therapeutics in a report on Tuesday, March 17th. They issued a “hold” rating and a $83.00 price objective on the stock.

Apogee Therapeutics Stock Up 1.9%

Apogee Therapeutics stock opened at $84.60 on Thursday. The business’s 50-day moving average price is $80.24 and its 200 day moving average price is $73.40. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of -20.05 and a beta of 0.69. Apogee Therapeutics has a 52 week low of $34.34 and a 52 week high of $95.32.

Apogee Therapeutics (NASDAQ:APGE) last released its quarterly earnings data on Monday, May 11th. The company reported ($1.06) EPS for the quarter, topping the consensus estimate of ($1.12) by $0.06. Equities analysts expect that Apogee Therapeutics will post -4.57 EPS for the current year.

Insiders Place Their Bets

In related news, insider Carl Dambkowski sold 5,500 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $84.14, for a total value of $462,770.00. Following the completion of the sale, the insider owned 207,023 shares of the company’s stock, valued at approximately $17,418,915.22. The trade was a 2.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 company’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $82.58, for a total transaction of $1,651,600.00. Following the transaction, the chief executive officer owned 1,132,987 shares of the company’s stock, valued at $93,562,066.46. This represents a 1.73% 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 sold a total of 76,500 shares of company stock worth $5,734,420 in the last three months. 24.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Apogee Therapeutics

Hedge funds have recently made changes to their positions in the company. Commonwealth Equity Services LLC increased its position in shares of Apogee Therapeutics by 2.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 7,151 shares of the company’s stock worth $540,000 after purchasing an additional 152 shares in the last quarter. Stifel Financial Corp boosted its stake in Apogee Therapeutics by 3.5% during the 4th quarter. Stifel Financial Corp now owns 5,214 shares of the company’s stock worth $394,000 after purchasing an additional 175 shares during the last quarter. ANTIPODES PARTNERS Ltd boosted its stake in Apogee Therapeutics by 41.2% during the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 843 shares of the company’s stock worth $33,000 after purchasing an additional 246 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new stake in shares of Apogee Therapeutics during the fourth quarter worth $25,000. Finally, Comerica Bank raised its position in shares of Apogee Therapeutics by 1.0% in the fourth quarter. Comerica Bank now owns 35,872 shares of the company’s stock valued at $2,708,000 after buying an additional 338 shares during the last quarter. Institutional investors and hedge funds own 79.04% of the company’s stock.

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.