Apogee Therapeutics Inc. (NASDAQ:APGE) Receives $121.25 Consensus Price Target from Analysts

Shares of Apogee Therapeutics Inc. (NASDAQ:APGE) have been given a consensus recommendation of “Hold” by the twenty-one research firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $121.2547.

APGE has been the subject of a number of recent analyst reports. Canaccord Genuity Group lowered shares of Apogee Therapeutics from a “buy” rating to a “hold” rating and raised their price target for the company from $130.00 to $135.11 in a report on Monday, June 22nd. Deutsche Bank Aktiengesellschaft lowered shares of Apogee Therapeutics from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $116.00 to $135.00 in a report on Monday, June 22nd. Citigroup cut shares of Apogee Therapeutics from a “buy” rating to a “neutral” rating and upped their price objective for the company from $125.00 to $135.00 in a research report on Tuesday, June 23rd. BTIG Research restated a “buy” rating and set a $137.00 target price on shares of Apogee Therapeutics in a research note on Wednesday, May 27th. Finally, UBS Group lowered Apogee Therapeutics from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $100.00 to $135.11 in a research report on Tuesday, June 23rd.

Apogee Therapeutics Price Performance

NASDAQ APGE opened at $134.28 on Tuesday. Apogee Therapeutics has a fifty-two week low of $34.34 and a fifty-two week high of $134.46. The business has a 50 day moving average price of $109.68 and a two-hundred day moving average price of $88.49. The stock has a market cap of $8.31 billion, a PE ratio of -31.01 and a beta of 0.32.

Apogee Therapeutics (NASDAQ:APGE) last posted its quarterly earnings data on Monday, May 11th. The company reported ($1.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.07) by $0.01. Sell-side analysts anticipate that Apogee Therapeutics will post -4.45 EPS for the current fiscal year.

Insider Buying and Selling

In other Apogee Therapeutics news, insider Carl Dambkowski sold 5,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $132.74, for a total value of $730,070.00. Following the transaction, the insider directly owned 177,873 shares of the company’s stock, valued at $23,610,862.02. This represents a 3.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Thomas Henderson sold 20,000 shares of the stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $133.63, for a total value of $2,672,600.00. Following the transaction, the chief executive officer owned 995,987 shares of the company’s stock, valued at approximately $133,093,742.81. This trade represents a 1.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 182,900 shares of company stock valued at $21,711,585. 24.30% of the stock is owned by insiders.

Institutional Trading of Apogee Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in APGE. GAMMA Investing LLC raised its holdings in Apogee Therapeutics by 40.5% in the second quarter. GAMMA Investing LLC now owns 309 shares of the company’s stock valued at $41,000 after acquiring an additional 89 shares in the last quarter. Rockefeller Capital Management L.P. bought a new position in Apogee Therapeutics during the 4th quarter valued at $25,000. Los Angeles Capital Management LLC acquired a new position in Apogee Therapeutics during the 4th quarter worth $37,000. EverSource Wealth Advisors LLC increased its position in shares of Apogee Therapeutics by 61.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 645 shares of the company’s stock worth $54,000 after purchasing an additional 246 shares during the last quarter. Finally, Seven Fleet Capital Management LP bought a new stake in shares of Apogee Therapeutics in the 4th quarter worth about $136,000. 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.