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

Apogee Therapeutics Inc. (NASDAQ:APGE) has been given a consensus recommendation of “Moderate Buy” by the fourteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and three have issued a strong buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $105.4545.

APGE has been the subject of a number of analyst reports. BTIG Research set a $137.00 price target on Apogee Therapeutics in a research report on Tuesday, January 6th. Royal Bank Of Canada lowered shares of Apogee Therapeutics from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $70.00 to $83.00 in a report on Thursday. UBS Group upgraded shares of Apogee Therapeutics to a “strong-buy” rating in a research note on Wednesday, January 7th. Craig Hallum reiterated a “buy” rating and issued a $116.00 price target on shares of Apogee Therapeutics in a research report on Wednesday, January 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Apogee Therapeutics in a research report on Wednesday, January 21st.

Insider Buying and Selling at Apogee Therapeutics

In related news, insider Carl Dambkowski sold 18,700 shares of the stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $77.84, for a total transaction 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. This trade represents a 8.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Thomas Henderson sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $81.11, for a total value of $1,622,200.00. Following the completion of the transaction, the chief executive officer directly owned 1,192,987 shares in the company, valued at approximately $96,763,175.57. This represents a 1.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,890,385 shares of company stock valued at $143,782,438 over the last ninety days. 42.77% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Apogee Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Apogee Therapeutics by 2.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,529 shares of the company’s stock worth $921,000 after buying an additional 694 shares in the last quarter. Millennium Management LLC increased its holdings in Apogee Therapeutics by 100.0% in 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. Mirae Asset Global Investments Co. Ltd. lifted its stake in Apogee Therapeutics by 18.0% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,779 shares of the company’s stock worth $77,000 after purchasing an additional 272 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Apogee Therapeutics in the 2nd quarter worth $218,000. Finally, AlphaQuest LLC boosted its holdings in shares of Apogee Therapeutics by 344.6% during the 2nd quarter. AlphaQuest LLC now owns 5,073 shares of the company’s stock valued at $220,000 after purchasing an additional 3,932 shares during the last quarter. Institutional investors own 79.04% of the company’s stock.

Apogee Therapeutics Stock Performance

Shares of APGE stock opened at $70.02 on Tuesday. Apogee Therapeutics has a 12 month low of $26.20 and a 12 month high of $84.56. The stock has a market cap of $4.78 billion, a P/E ratio of -15.99 and a beta of 1.41. The company has a 50 day simple moving average of $75.21 and a two-hundred day simple moving average of $54.78.

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

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.