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

Apogee Therapeutics Inc. (NASDAQ:APGE) has earned an average rating of “Moderate Buy” from the twelve analysts that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, eight have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $98.50.

Several analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Apogee Therapeutics in a report on Tuesday, December 9th. They issued a “buy” rating and a $103.00 target price on the stock. Wall Street Zen lowered shares of Apogee Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. Stephens initiated coverage on shares of Apogee Therapeutics in a research report on Tuesday, December 16th. They set an “overweight” rating and a $95.00 price objective for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Apogee Therapeutics in a report on Wednesday, October 8th. Finally, Mizuho started coverage on Apogee Therapeutics in a report on Tuesday, October 21st. They set an “outperform” rating and a $105.00 price target for the company.

Apogee Therapeutics Price Performance

APGE opened at $75.48 on Friday. The business has a fifty day moving average price of $68.26 and a 200 day moving average price of $50.35. Apogee Therapeutics has a 12 month low of $26.20 and a 12 month high of $80.99. The stock has a market capitalization of $5.16 billion, a price-to-earnings ratio of -17.23 and a beta of 1.41.

Apogee Therapeutics (NASDAQ:APGE) last posted its quarterly earnings results 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. On average, research analysts anticipate that Apogee Therapeutics will post -3.09 earnings per share for the current year.

Insider Activity at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 10,900 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $75.00, for a total transaction of $817,500.00. Following the sale, the insider owned 271,108 shares of the company’s stock, valued at approximately $20,333,100. This trade represents a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Thomas Henderson sold 20,000 shares of the company’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $75.38, for a total transaction of $1,507,600.00. Following the completion of the transaction, the chief executive officer owned 1,212,987 shares of the company’s stock, valued at approximately $91,434,960.06. The trade was a 1.62% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 101,685 shares of company stock valued at $7,179,630. 42.77% of the stock is owned by company insiders.

Institutional Investors Weigh In On Apogee Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Octagon Capital Advisors LP purchased a new position in shares of Apogee Therapeutics during the first quarter worth about $399,752,000. Wellington Management Group LLP boosted its position in shares of Apogee Therapeutics by 24.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,723,701 shares of the company’s stock valued at $187,673,000 after purchasing an additional 917,991 shares during the period. UBS Group AG boosted its position in shares of Apogee Therapeutics by 646.1% in the 3rd quarter. UBS Group AG now owns 799,465 shares of the company’s stock valued at $31,763,000 after purchasing an additional 692,308 shares during the period. Adage Capital Partners GP L.L.C. grew its stake in Apogee Therapeutics by 77.5% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,290,464 shares of the company’s stock worth $56,045,000 after buying an additional 563,464 shares during the last quarter. Finally, Paradigm Biocapital Advisors LP increased its position in Apogee Therapeutics by 58.7% during the third quarter. Paradigm Biocapital Advisors LP now owns 1,521,757 shares of the company’s stock worth $60,459,000 after buying an additional 563,127 shares during the period. 79.04% of the stock is owned by hedge funds and other institutional investors.

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.