Apogee Therapeutics (NASDAQ:APGE) Price Target Raised to $95.00 at Wedbush

Apogee Therapeutics (NASDAQ:APGE) had its target price lifted by Wedbush from $90.00 to $95.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Wedbush currently has an outperform rating on the stock.

Several other research firms also recently commented on APGE. Jefferies Financial Group reiterated a “buy” rating and issued a $95.00 price objective on shares of Apogee Therapeutics in a research note on Monday, February 2nd. Stephens started coverage on Apogee Therapeutics in a research note on Tuesday, December 16th. They issued an “overweight” rating and a $95.00 target price on the stock. BTIG Research set a $137.00 price target on Apogee Therapeutics in a research note on Tuesday, January 6th. Stifel Nicolaus set a $133.00 price objective on Apogee Therapeutics in a report on Tuesday, January 6th. Finally, Wall Street Zen downgraded shares of Apogee Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $104.92.

Apogee Therapeutics Stock Performance

Shares of NASDAQ:APGE opened at $68.50 on Tuesday. The company has a market capitalization of $4.68 billion, a P/E ratio of -16.23 and a beta of 1.39. The company’s 50-day moving average is $72.72 and its 200 day moving average is $60.26. Apogee Therapeutics has a fifty-two week low of $26.20 and a fifty-two week high of $84.56.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly earnings data on Monday, March 2nd. The company reported ($1.03) EPS for the quarter, topping the consensus estimate of ($1.05) by $0.02. As a group, research analysts predict that Apogee Therapeutics will post -3.09 earnings per share for the current year.

Insider Transactions at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 5,500 shares of the stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $65.79, for a total value of $361,845.00. Following the sale, the insider directly owned 211,148 shares in the company, valued at $13,891,426.92. This represents a 2.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael Thomas Henderson sold 20,000 shares of the firm’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $63.35, for a total transaction of $1,267,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,172,987 shares of the company’s stock, valued at approximately $74,308,726.45. The trade was a 1.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 1,885,100 shares of company stock valued at $143,557,153. 42.77% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in APGE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in 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 period. Millennium Management LLC boosted its position in shares of 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 last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Apogee Therapeutics by 99.2% during the second 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. Fox Run Management L.L.C. bought a new position in shares of Apogee Therapeutics in the second quarter worth approximately $437,000. Finally, Lisanti Capital Growth LLC bought a new position in shares of Apogee Therapeutics in the second quarter worth approximately $800,000. Institutional investors own 79.04% of the company’s stock.

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.