Apogee Therapeutics (NASDAQ:APGE) Upgraded at UBS Group

UBS Group upgraded shares of Apogee Therapeutics (NASDAQ:APGE) to a strong-buy rating in a report issued on Wednesday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. Stephens assumed coverage on shares of Apogee Therapeutics in a report on Tuesday, December 16th. They set an “overweight” rating and a $95.00 target price for the company. Royal Bank Of Canada restated an “outperform” rating on shares of Apogee Therapeutics in a research report on Tuesday. Wolfe Research began coverage on shares of Apogee Therapeutics in a research report on Wednesday. They issued a “peer perform” rating for the company. Deutsche Bank Aktiengesellschaft assumed coverage on Apogee Therapeutics in a research report on Tuesday, December 9th. They set a “buy” rating and a $103.00 target price on the stock. Finally, Mizuho began coverage on Apogee Therapeutics in a research note on Tuesday, October 21st. They issued an “outperform” rating and a $105.00 price target for the company. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $104.27.

Apogee Therapeutics Stock Performance

NASDAQ APGE opened at $77.99 on Wednesday. The stock has a 50-day simple moving average of $70.89 and a two-hundred day simple moving average of $51.85. The firm has a market capitalization of $5.33 billion, a P/E ratio of -17.81 and a beta of 1.41. Apogee Therapeutics has a fifty-two week low of $26.20 and a fifty-two week high of $80.99.

Apogee Therapeutics (NASDAQ:APGE) last issued its earnings results on Monday, November 10th. The company reported ($1.11) EPS for the quarter, topping analysts’ consensus estimates of ($1.14) by $0.03. As a group, analysts forecast that Apogee Therapeutics will post -3.09 earnings per share for the current year.

Insider Activity

In related news, CEO Michael Thomas Henderson sold 40,000 shares of the firm’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $75.01, for a total value of $3,000,400.00. Following 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 trade represents a 3.14% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Carl Dambkowski sold 18,700 shares of Apogee Therapeutics stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $77.84, for a total value of $1,455,608.00. Following the completion of 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 120,385 shares of company stock valued at $8,635,238. Insiders own 42.77% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. 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. Mirae Asset Global Investments Co. Ltd. boosted its position in Apogee Therapeutics by 18.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,779 shares of the company’s stock worth $77,000 after acquiring an additional 272 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in Apogee Therapeutics by 99.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 769 shares of the company’s stock valued at $33,000 after acquiring an additional 383 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Apogee Therapeutics by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,529 shares of the company’s stock valued at $921,000 after acquiring an additional 694 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Apogee Therapeutics by 34.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,649 shares of the company’s stock worth $158,000 after purchasing an additional 941 shares in the last quarter. 79.04% of the stock is owned by institutional investors and hedge funds.

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.