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

Apogee Therapeutics Inc. (NASDAQ:APGE) has received a consensus rating of “Hold” from the twenty-one analysts that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $121.2547.

A number of equities research analysts recently issued reports on the stock. Wedbush downgraded shares of Apogee Therapeutics from an “outperform” rating to a “neutral” rating and set a $135.00 target price for the company. in a report on Monday, June 22nd. Royal Bank Of Canada increased their price target on shares of Apogee Therapeutics from $82.00 to $97.00 and gave the stock a “sector perform” rating in a research note on Monday, June 8th. UBS Group lowered shares of Apogee Therapeutics from a “buy” rating to a “neutral” rating and lifted their price target for the company from $100.00 to $135.11 in a report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft cut shares of Apogee Therapeutics from a “buy” rating to a “hold” rating and boosted their price objective for the company from $116.00 to $135.00 in a research note on Monday, June 22nd. Finally, Stifel Nicolaus restated a “hold” rating and set a $135.00 price objective (up from $133.00) on shares of Apogee Therapeutics in a report on Wednesday, June 24th.

Insiders Place Their Bets

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 80,000 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $132.54, for a total transaction of $10,603,200.00. Following the completion of the sale, the chief executive officer owned 1,015,987 shares of the company’s stock, valued at approximately $134,658,916.98. The trade was a 7.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Carl Dambkowski sold 26,400 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was 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 $23,768,284.80. This represents a 12.84% 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. Insiders sold 182,900 shares of company stock worth $21,711,585 in the last quarter. 24.30% of the stock is owned by insiders.

Institutional Trading of Apogee Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of APGE. Rockefeller Capital Management L.P. acquired a new position in Apogee Therapeutics during the fourth quarter valued at approximately $25,000. Los Angeles Capital Management LLC acquired a new stake in shares of Apogee Therapeutics in the fourth quarter worth $37,000. GAMMA Investing LLC increased its position in shares of Apogee Therapeutics by 40.5% in the second quarter. GAMMA Investing LLC now owns 309 shares of the company’s stock worth $41,000 after acquiring an additional 89 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake 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 valued at $54,000 after acquiring an additional 246 shares during the period. Finally, Quantbot Technologies LP purchased a new position in shares of Apogee Therapeutics in the 3rd quarter valued at $96,000. Institutional investors and hedge funds own 79.04% of the company’s stock.

Apogee Therapeutics Trading Up 0.1%

Shares of NASDAQ:APGE opened at $134.26 on Tuesday. The firm has a market cap of $8.31 billion, a price-to-earnings ratio of -31.01 and a beta of 0.32. The stock’s 50-day moving average price is $107.51 and its two-hundred day moving average price is $87.69. Apogee Therapeutics has a 12-month low of $34.34 and a 12-month high of $134.40.

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

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.