Analysts Set Apogee Therapeutics Inc. (NASDAQ:APGE) Target Price at $103.92

Shares of Apogee Therapeutics Inc. (NASDAQ:APGE) have received an average recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, eight have issued a buy recommendation and three have given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $103.9167.

A number of analysts have recently commented on the stock. Stifel Nicolaus set a $133.00 target price on shares of Apogee Therapeutics in a report on Tuesday, January 6th. BTIG Research reissued a “buy” rating and set a $137.00 price target on shares of Apogee Therapeutics in a research report on Monday, March 16th. Truist Financial started coverage on shares of Apogee Therapeutics in a research note on Tuesday. They set a “hold” rating and a $83.00 price objective on the stock. Jefferies Financial Group restated a “buy” rating and issued a $95.00 price objective on shares of Apogee Therapeutics in a report on Monday, February 2nd. Finally, Stephens began coverage on shares of Apogee Therapeutics in a research note on Tuesday, December 16th. They set an “overweight” rating and a $95.00 target price for the company.

Apogee Therapeutics Stock Down 3.6%

APGE opened at $66.04 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 cap of $4.59 billion, a PE ratio of -15.65 and a beta of 1.39. The business has a 50 day moving average of $71.25 and a 200-day moving average of $63.05.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly earnings results on Monday, March 2nd. The company reported ($1.03) earnings per share for the quarter, topping the consensus estimate of ($1.05) by $0.02. Equities analysts anticipate that Apogee Therapeutics will post -3.09 EPS for the current year.

Insider Buying and Selling

In related news, insider Carl Dambkowski sold 5,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $71.06, for a total value of $390,830.00. Following the sale, the insider owned 209,773 shares in the company, valued at $14,906,469.38. This represents a 2.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Fairmount Funds Management Llc sold 1,750,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $76.30, for a total value of $133,525,000.00. Following the transaction, the director directly owned 298,647 shares of the company’s stock, valued at approximately $22,786,766.10. This trade represents a 85.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,839,700 shares of company stock worth $140,118,083 in the last 90 days. Insiders own 42.77% of the company’s stock.

Hedge Funds Weigh In On Apogee Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Commonwealth Equity Services LLC boosted its stake in Apogee Therapeutics by 2.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 7,151 shares of the company’s stock worth $540,000 after purchasing an additional 152 shares in the last quarter. Stifel Financial Corp grew its position in Apogee Therapeutics by 3.5% during the 4th quarter. Stifel Financial Corp now owns 5,214 shares of the company’s stock valued at $394,000 after purchasing an additional 175 shares during the last quarter. ANTIPODES PARTNERS Ltd increased its stake in Apogee Therapeutics by 41.2% during the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 843 shares of the company’s stock valued at $33,000 after purchasing an additional 246 shares in the last quarter. Rockefeller Capital Management L.P. bought a new stake in Apogee Therapeutics during the 4th quarter valued at about $25,000. Finally, Comerica Bank raised its holdings in Apogee Therapeutics by 1.0% in the fourth quarter. Comerica Bank now owns 35,872 shares of the company’s stock worth $2,708,000 after buying an additional 338 shares during the last quarter. 79.04% of the stock is currently 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.