Apogee Therapeutics (NASDAQ:APGE) Given New $135.00 Price Target at Wedbush

Apogee Therapeutics (NASDAQ:APGE) had its target price boosted by research analysts at Wedbush from $120.00 to $135.00 in a note issued to investors on Wednesday, MarketBeat Ratings reports. The firm presently has an “outperform” rating on the stock. Wedbush’s target price would indicate a potential upside of 64.46% from the stock’s current price.

Several other brokerages have also recently commented on APGE. Guggenheim upped their target price on shares of Apogee Therapeutics from $130.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Apogee Therapeutics in a research note on Monday, April 20th. Rothschild & Co Redburn began coverage on Apogee Therapeutics in a research note on Friday, May 1st. They issued a “buy” rating and a $140.00 target price on the stock. BTIG Research restated a “buy” rating and set a $137.00 target price on shares of Apogee Therapeutics in a report on Monday, March 23rd. Finally, Mizuho upped their target price on shares of Apogee Therapeutics from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, March 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Apogee Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.40.

Apogee Therapeutics Stock Performance

NASDAQ:APGE traded down $0.73 on Wednesday, hitting $82.09. 1,300,271 shares of the stock were exchanged, compared to its average volume of 915,694. Apogee Therapeutics has a 52 week low of $34.34 and a 52 week high of $95.32. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of -18.96 and a beta of 0.69. The company’s 50-day moving average price is $82.28 and its 200 day moving average price is $75.46.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly earnings results on Monday, May 11th. The company reported ($1.06) EPS for the quarter, topping the consensus estimate of ($1.07) by $0.01. As a group, equities research analysts predict that Apogee Therapeutics will post -4.48 earnings per share for the current year.

Insider Buying and Selling at Apogee Therapeutics

In related news, insider Carl Dambkowski sold 5,500 shares of the firm’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $84.14, for a total transaction of $462,770.00. Following the sale, the insider directly owned 207,023 shares in the company, valued at $17,418,915.22. This trade represents a 2.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $82.09, for a total value of $1,641,800.00. Following the completion of the sale, the chief executive officer directly owned 1,115,987 shares in the company, valued at $91,611,372.83. This represents a 1.76% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 76,500 shares of company stock valued at $6,109,220 in the last three months. 24.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Apogee Therapeutics

Large investors have recently bought and sold shares of the company. Rockefeller Capital Management L.P. acquired a new stake in shares of Apogee Therapeutics in the fourth quarter valued at approximately $25,000. ANTIPODES PARTNERS Ltd increased its stake in Apogee Therapeutics by 41.2% in the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 843 shares of the company’s stock valued at $33,000 after buying an additional 246 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in Apogee Therapeutics during the 4th quarter worth about $37,000. EverSource Wealth Advisors LLC boosted its stake in shares of Apogee Therapeutics by 61.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 645 shares of the company’s stock worth $54,000 after buying an additional 246 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Apogee Therapeutics in the 3rd quarter valued at about $96,000. Institutional investors and hedge funds own 79.04% of the company’s stock.

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.