Analysts Set Apogee Therapeutics Inc. (NASDAQ:APGE) Target Price at $126.77

Shares of Apogee Therapeutics Inc. (NASDAQ:APGE) have earned a consensus recommendation of “Hold” from the nineteen brokerages that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, fifteen have assigned a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $126.7706.

APGE has been the topic of several recent research reports. UBS Group cut Apogee Therapeutics from a “buy” rating to a “neutral” rating and upped their price target for the stock from $100.00 to $135.11 in a research note on Tuesday, June 23rd. Stifel Nicolaus reissued a “hold” rating and set a $135.00 price objective (up from $133.00) on shares of Apogee Therapeutics in a research report on Wednesday, June 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Apogee Therapeutics in a report on Friday, July 17th. Deutsche Bank Aktiengesellschaft cut shares of Apogee Therapeutics from a “buy” rating to a “hold” rating and boosted their target price for the company from $116.00 to $135.00 in a report on Monday, June 22nd. Finally, Canaccord Genuity Group downgraded shares of Apogee Therapeutics from a “buy” rating to a “hold” rating and upped their target price for the stock from $130.00 to $135.11 in a research report on Monday, June 22nd.

Apogee Therapeutics Stock Performance

Apogee Therapeutics stock opened at $135.07 on Wednesday. The stock’s 50 day simple moving average is $134.46 and its two-hundred day simple moving average is $103.27. The stock has a market cap of $8.40 billion, a price-to-earnings ratio of -31.12 and a beta of 0.33. Apogee Therapeutics has a fifty-two week low of $35.39 and a fifty-two week high of $135.09.

Apogee Therapeutics (NASDAQ:APGE) last posted its earnings results on Monday, August 10th. The company reported ($1.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.07). On average, analysts predict that Apogee Therapeutics will post -4.47 earnings per share for the current year.

Insider Activity

In other Apogee Therapeutics news, insider Carl Dambkowski sold 5,500 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $134.17, for a total value of $737,935.00. Following the sale, the insider owned 168,498 shares in the company, valued at approximately $22,607,376.66. This represents a 3.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Henderson sold 20,000 shares of the company’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $133.63, for a total transaction of $2,672,600.00. Following the completion of the sale, the chief executive officer owned 995,987 shares in the company, valued at approximately $133,093,742.81. This trade represents a 1.97% 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 137,400 shares of company stock worth $18,244,445 in the last three months. 24.30% of the stock is currently owned by insiders.

Institutional Trading of Apogee Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC raised its stake in Apogee Therapeutics by 40.5% during the second quarter. GAMMA Investing LLC now owns 309 shares of the company’s stock valued at $41,000 after buying an additional 89 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new stake in shares of Apogee Therapeutics in the fourth quarter worth $25,000. Los Angeles Capital Management LLC purchased a new stake in shares of Apogee Therapeutics in the fourth quarter worth $37,000. Longfellow Investment Management Co. LLC bought a new position in shares of Apogee Therapeutics during the second quarter valued at $81,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Apogee Therapeutics by 61.7% during the first quarter. EverSource Wealth Advisors LLC now owns 645 shares of the company’s stock valued at $54,000 after acquiring an additional 246 shares in the last quarter. Hedge funds and other institutional investors own 79.04% of the company’s stock.

Apogee Therapeutics Company Profile

Apogee Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing next-generation biologic medicines for inflammatory and immunologic diseases. The company’s approach centers on designing therapies with extended half-lives and other potentially differentiated properties intended to improve treatment durability and patient convenience.

Apogee’s pipeline includes APG777, an extended-half-life monoclonal antibody that targets interleukin-13 (IL-13), a cytokine involved in allergic inflammation.