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

Apogee Therapeutics Inc. (NASDAQ:APGE) has been assigned a consensus rating of “Moderate Buy” from the fifteen brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, eight have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $104.5833.

APGE has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft started coverage on Apogee Therapeutics in a research note on Tuesday, December 9th. They set a “buy” rating and a $103.00 price objective for the company. UBS Group upgraded Apogee Therapeutics to a “strong-buy” rating in a report on Wednesday, January 7th. Wall Street Zen lowered shares of Apogee Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, December 6th. Stifel Nicolaus set a $133.00 price objective on Apogee Therapeutics in a research report on Tuesday, January 6th. Finally, Wolfe Research started coverage on shares of Apogee Therapeutics in a research note on Wednesday, January 7th. They issued a “peer perform” rating on the stock.

Insider Buying and Selling

In other news, 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 completion of the sale, the director owned 298,647 shares of the company’s stock, valued at $22,786,766.10. The trade was a 85.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael Thomas Henderson sold 20,000 shares of the company’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $63.35, for a total value of $1,267,000.00. Following the completion of the sale, the chief executive officer 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 position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 1,885,100 shares of company stock worth $143,557,153. 42.77% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Apogee Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Nisa Investment Advisors LLC lifted its stake in Apogee Therapeutics by 99.2% in the 2nd 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. ANTIPODES PARTNERS Ltd increased its holdings in shares of Apogee Therapeutics by 41.2% in the third 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. Los Angeles Capital Management LLC purchased a new stake in shares of Apogee Therapeutics in the fourth quarter worth about $37,000. Quantbot Technologies LP purchased a new stake in shares of Apogee Therapeutics in the third quarter worth about $96,000. Finally, BNP Paribas Financial Markets boosted its stake in Apogee Therapeutics by 34.7% during the second quarter. BNP Paribas Financial Markets now owns 3,649 shares of the company’s stock valued at $158,000 after buying an additional 941 shares during the last quarter. 79.04% of the stock is owned by institutional investors.

Apogee Therapeutics Price Performance

NASDAQ APGE opened at $68.39 on Friday. The stock has a market capitalization of $4.67 billion, a PE ratio of -15.61 and a beta of 1.42. Apogee Therapeutics has a 1 year low of $26.20 and a 1 year high of $84.56. The company’s 50 day simple moving average is $73.68 and its two-hundred day simple moving average is $58.31.

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.