Apogee Therapeutics Inc. (NASDAQ:APGE) Receives Average Recommendation of “Moderate Buy” from Analysts

Apogee Therapeutics Inc. (NASDAQ:APGE) has earned a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and three have issued a strong buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $103.9167.

A number of analysts have commented on APGE shares. Truist Financial set a $83.00 price objective on shares of Apogee Therapeutics in a research note on Tuesday. Wall Street Zen lowered Apogee Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. Jefferies Financial Group reiterated a “buy” rating and set a $95.00 price target on shares of Apogee Therapeutics in a report on Monday, February 2nd. BTIG Research restated a “buy” rating and set a $137.00 price target on shares of Apogee Therapeutics in a report on Monday. Finally, Wolfe Research initiated coverage on shares of Apogee Therapeutics in a research report on Wednesday, January 7th. They set a “peer perform” rating on the stock.

Apogee Therapeutics Stock Down 1.7%

Shares of NASDAQ APGE opened at $69.85 on Wednesday. Apogee Therapeutics has a 52-week low of $26.20 and a 52-week high of $84.56. The stock has a market capitalization of $4.85 billion, a P/E ratio of -16.55 and a beta of 1.39. The firm’s 50-day moving average price is $71.91 and its two-hundred day moving average price is $62.78.

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

Insider Activity

In other news, insider Carl Dambkowski sold 18,700 shares of the company’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $77.84, for a total value of $1,455,608.00. Following the transaction, the insider directly owned 212,523 shares of the company’s stock, valued at approximately $16,542,790.32. This represents a 8.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock in a transaction on Wednesday, March 11th. The shares were 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 of the company’s stock, valued at approximately $86,220,367.86. The trade was a 1.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,839,700 shares of company stock worth $140,118,083 in the last ninety days. Corporate insiders own 42.77% of the company’s stock.

Institutional Investors Weigh In On Apogee Therapeutics

Institutional investors have recently made changes to their positions in the company. Exane Asset Management bought a new position in Apogee Therapeutics during the third quarter valued at approximately $2,048,000. Rafferty Asset Management LLC lifted its stake in Apogee Therapeutics by 55.9% in the third quarter. Rafferty Asset Management LLC now owns 65,796 shares of the company’s stock valued at $2,614,000 after acquiring an additional 23,585 shares during the last quarter. SG Americas Securities LLC bought a new stake in Apogee Therapeutics in the third quarter worth approximately $5,333,000. Candriam S.C.A. bought a new stake in Apogee Therapeutics in the third quarter worth approximately $5,009,000. Finally, Boxer Capital Management LLC acquired a new position in shares of Apogee Therapeutics during the 3rd quarter worth $1,986,000. 79.04% of the stock is currently 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.