Apogee Therapeutics (NASDAQ:APGE) Hits New 12-Month High – Still a Buy?

Apogee Therapeutics Inc. (NASDAQ:APGE)’s stock price reached a new 52-week high on Monday . The stock traded as high as $134.40 and last traded at $134.4450, with a volume of 460331 shares. The stock had previously closed at $134.28.

Analyst Ratings Changes

A number of equities analysts have weighed in on APGE shares. The Goldman Sachs Group set a $89.00 price target on Apogee Therapeutics in a research report on Thursday, May 28th. Canaccord Genuity Group downgraded shares of Apogee Therapeutics from a “buy” rating to a “hold” rating and upped their price target for the company from $130.00 to $135.11 in a research note on Monday, June 22nd. Craig Hallum set a $135.11 price objective on Apogee Therapeutics and gave the stock a “hold” rating in a research note on Monday, June 22nd. Deutsche Bank Aktiengesellschaft lowered shares of Apogee Therapeutics from a “buy” rating to a “hold” rating and raised their target price for the company from $116.00 to $135.00 in a report on Monday, June 22nd. Finally, Wedbush lowered Apogee Therapeutics from an “outperform” rating to a “neutral” rating and set a $135.00 price target on the stock. in a research note on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $121.25.

Apogee Therapeutics Stock Performance

The stock has a fifty day simple moving average of $110.79 and a two-hundred day simple moving average of $88.88. The stock has a market capitalization of $8.30 billion, a price-to-earnings ratio of -30.98 and a beta of 0.32.

Apogee Therapeutics (NASDAQ:APGE) last posted its quarterly earnings results on Monday, May 11th. The company reported ($1.06) earnings per share for the quarter, beating the consensus estimate of ($1.07) by $0.01. Research analysts forecast that Apogee Therapeutics Inc. will post -4.45 earnings per share for the current year.

Insider Activity

In other Apogee Therapeutics news, insider Carl Dambkowski sold 26,400 shares of Apogee Therapeutics stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $132.60, for a total value of $3,500,640.00. Following the sale, the insider owned 179,248 shares of the company’s stock, valued at approximately $23,768,284.80. The trade was a 12.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Thomas Henderson sold 80,000 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $132.54, for a total value of $10,603,200.00. Following the completion of the sale, the chief executive officer owned 1,015,987 shares in the company, valued at approximately $134,658,916.98. The trade was a 7.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. TD Asset Management Inc raised its stake in Apogee Therapeutics by 55.3% in the fourth quarter. TD Asset Management Inc now owns 129,290 shares of the company’s stock valued at $9,759,000 after purchasing an additional 46,050 shares in the last quarter. Banque Pictet & Cie SA purchased a new position in Apogee Therapeutics in the 4th quarter worth approximately $3,155,000. Vanguard Group Inc. grew its stake in Apogee Therapeutics by 27.3% in the 4th quarter. Vanguard Group Inc. now owns 2,857,824 shares of the company’s stock worth $215,709,000 after buying an additional 612,193 shares in the last quarter. Pictet Asset Management Holding SA bought a new position in shares of Apogee Therapeutics in the 4th quarter worth $23,616,000. Finally, Geode Capital Management LLC increased its holdings in shares of Apogee Therapeutics by 18.7% in the 4th quarter. Geode Capital Management LLC now owns 1,059,085 shares of the company’s stock worth $79,957,000 after buying an additional 166,882 shares during the last quarter. 79.04% of the stock is owned by institutional investors.

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.