Apogee Therapeutics (NASDAQ:APGE) Sets New 52-Week High – Should You Buy?

Apogee Therapeutics Inc. (NASDAQ:APGE)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $134.88 and last traded at $134.8790, with a volume of 648357 shares trading hands. The stock had previously closed at $134.85.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Wedbush lowered shares of Apogee Therapeutics from an “outperform” rating to a “neutral” rating and set a $135.00 price target on the stock. in a research report on Monday, June 22nd. Rothschild & Co Redburn started coverage on shares of Apogee Therapeutics in a research report on Friday, May 1st. They issued a “buy” rating and a $140.00 price objective for the company. UBS Group lowered shares of Apogee Therapeutics from a “buy” rating to a “neutral” rating and increased their target price for the stock from $100.00 to $135.11 in a research note on Tuesday, June 23rd. TD Cowen cut Apogee Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Finally, BTIG Research lowered Apogee Therapeutics from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $126.77.

Apogee Therapeutics Trading Up 0.0%

The firm’s fifty day moving average is $133.10 and its 200 day moving average is $98.29. The company has a market cap of $8.39 billion, a PE ratio of -31.10 and a beta of 0.34.

Apogee Therapeutics (NASDAQ:APGE) last announced its earnings results on Monday, August 10th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.07) by ($0.07). As a group, sell-side analysts anticipate that Apogee Therapeutics Inc. will post -4.47 EPS for the current fiscal year.

Insider Buying and Selling at Apogee Therapeutics

In related news, CEO Michael Thomas Henderson sold 80,000 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $132.54, for a total value of $10,603,200.00. Following the completion of the transaction, the chief executive officer directly owned 1,015,987 shares of the company’s stock, valued at approximately $134,658,916.98. This represents a 7.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Carl Dambkowski sold 26,400 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $132.60, for a total transaction of $3,500,640.00. Following the completion of the transaction, the insider directly owned 179,248 shares in the company, valued at approximately $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. Over the last three months, insiders sold 162,900 shares of company stock valued at $20,344,950. 24.30% of the stock is owned by corporate insiders.

Institutional Trading of Apogee Therapeutics

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC boosted its holdings in shares of Apogee Therapeutics by 40.5% during the 2nd quarter. GAMMA Investing LLC now owns 309 shares of the company’s stock worth $41,000 after purchasing an additional 89 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new stake in shares of Apogee Therapeutics in 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 valued at approximately $37,000. Longfellow Investment Management Co. LLC purchased a new position in Apogee Therapeutics during the second quarter worth approximately $81,000. Finally, EverSource Wealth Advisors LLC lifted its position in Apogee Therapeutics by 61.7% during the first quarter. EverSource Wealth Advisors LLC now owns 645 shares of the company’s stock worth $54,000 after buying an additional 246 shares in the last quarter. Institutional investors and hedge funds 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.