Apogee Therapeutics (NASDAQ:APGE) Given Buy Rating at BTIG Research

BTIG Research reaffirmed their buy rating on shares of Apogee Therapeutics (NASDAQ:APGE) in a report published on Monday morning,Benzinga reports. BTIG Research currently has a $137.00 price objective on the stock.

Several other research firms have also issued reports on APGE. Citigroup reissued a “buy” rating on shares of Apogee Therapeutics in a research report on Sunday, January 25th. Wall Street Zen downgraded shares of Apogee Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. Jefferies Financial Group reissued a “buy” rating and set a $95.00 target price on shares of Apogee Therapeutics in a report on Monday, February 2nd. Wedbush raised their price target on shares of Apogee Therapeutics from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 3rd. Finally, Stephens initiated coverage on shares of Apogee Therapeutics in a report on Tuesday, December 16th. They issued an “overweight” rating and a $95.00 price target for the company. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Apogee Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $105.82.

Apogee Therapeutics Stock Down 1.1%

Shares of Apogee Therapeutics stock opened at $71.09 on Monday. The firm has a market cap of $4.94 billion, a P/E ratio of -16.85 and a beta of 1.39. Apogee Therapeutics has a fifty-two week low of $26.20 and a fifty-two week high of $84.56. The business has a 50-day moving average price of $72.08 and a 200 day moving average price of $62.54.

Apogee Therapeutics (NASDAQ:APGE) last released its earnings results on Monday, March 2nd. The company reported ($1.03) EPS for the quarter, topping analysts’ consensus estimates of ($1.05) by $0.02. As a group, equities 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, CEO Michael Thomas Henderson sold 20,000 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $74.78, for a total value of $1,495,600.00. Following the sale, the chief executive officer directly owned 1,152,987 shares in the company, valued at approximately $86,220,367.86. This trade represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Fairmount Funds Management Llc sold 1,750,000 shares of the business’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $76.30, for a total transaction of $133,525,000.00. Following the transaction, the director directly owned 298,647 shares of the company’s stock, valued at approximately $22,786,766.10. This trade represents a 85.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,839,700 shares of company stock worth $140,118,083 in the last 90 days. 42.77% of the stock is currently owned by company insiders.

Institutional Trading of Apogee Therapeutics

Hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP boosted its stake in Apogee Therapeutics by 0.5% during the 4th quarter. Wellington Management Group LLP now owns 4,746,585 shares of the company’s stock valued at $358,272,000 after purchasing an additional 22,884 shares during the period. Vanguard Group Inc. increased its stake in shares of Apogee Therapeutics by 27.3% in the fourth quarter. Vanguard Group Inc. now owns 2,857,824 shares of the company’s stock valued at $215,709,000 after purchasing an additional 612,193 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in shares of Apogee Therapeutics by 189,522.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,732,456 shares of the company’s stock valued at $206,246,000 after buying an additional 2,731,015 shares during the last quarter. Perceptive Advisors LLC raised its holdings in shares of Apogee Therapeutics by 72.4% during the fourth quarter. Perceptive Advisors LLC now owns 2,330,651 shares of the company’s stock valued at $175,918,000 after buying an additional 978,662 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of Apogee Therapeutics by 324.4% during the fourth quarter. Janus Henderson Group PLC now owns 2,062,604 shares of the company’s stock worth $155,697,000 after buying an additional 1,576,626 shares during the period. 79.04% of the stock is currently owned by 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.