Apogee Therapeutics (NASDAQ:APGE) Reaches New 52-Week High – Time to Buy?

Apogee Therapeutics Inc. (NASDAQ:APGE) shares hit a new 52-week high during trading on Friday . The company traded as high as $80.00 and last traded at $80.00, with a volume of 9086 shares. The stock had previously closed at $77.35.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Wall Street Zen lowered Apogee Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, December 6th. Craig Hallum started coverage on shares of Apogee Therapeutics in a research note on Monday, November 3rd. They issued a “buy” rating and a $109.00 target price for the company. Bank of America increased their target price on shares of Apogee Therapeutics from $78.00 to $87.00 and gave the company a “buy” rating in a report on Thursday, August 28th. BTIG Research reissued a “buy” rating and set a $115.00 price target on shares of Apogee Therapeutics in a research report on Thursday, October 9th. Finally, Royal Bank Of Canada upped their price objective on shares of Apogee Therapeutics from $60.00 to $70.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Apogee Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $98.50.

Apogee Therapeutics Stock Up 1.5%

The company’s 50-day moving average is $64.24 and its two-hundred day moving average is $48.14. The company has a market cap of $5.37 billion, a P/E ratio of -17.93 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) EPS for the quarter, topping the consensus estimate of ($1.14) by $0.03. On average, analysts anticipate that Apogee Therapeutics Inc. will post -3.09 EPS for the current fiscal year.

Insider Activity at Apogee Therapeutics

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 40,000 shares of the stock in a transaction on Thursday, December 4th. The stock was 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 approximately $92,486,354.87. This represents a 3.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Carl Dambkowski sold 10,900 shares of the company’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $75.00, for a total value of $817,500.00. Following the transaction, the insider directly owned 271,108 shares in the company, valued at $20,333,100. This represents a 3.87% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 106,795 shares of company stock worth $7,383,008. 42.77% of the stock is owned by company insiders.

Institutional Investors Weigh In On Apogee Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC lifted its stake in Apogee Therapeutics by 99.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 769 shares of the company’s stock worth $33,000 after purchasing an additional 383 shares in the last quarter. ANTIPODES PARTNERS Ltd raised its holdings in shares of Apogee Therapeutics by 41.2% in the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 843 shares of the company’s stock valued at $33,000 after acquiring an additional 246 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Apogee Therapeutics during the 1st quarter valued at about $42,000. AlphaQuest LLC bought a new position in shares of Apogee Therapeutics in the first quarter worth approximately $43,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Apogee Therapeutics by 18.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,779 shares of the company’s stock worth $77,000 after purchasing an additional 272 shares during the last quarter. 79.04% of the stock is currently 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.