Apogee Therapeutics Inc. (NASDAQ:APGE) Receives Consensus Rating of “Moderate Buy” from Brokerages

Apogee Therapeutics Inc. (NASDAQ:APGE) has earned an average recommendation of “Moderate Buy” from the fifteen analysts that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, eight have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $104.5833.

Several research firms have recently weighed in on APGE. Weiss Ratings restated a “sell (d-)” rating on shares of Apogee Therapeutics in a report on Wednesday, January 21st. Wall Street Zen lowered shares of Apogee Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. Stifel Nicolaus set a $133.00 price objective on Apogee Therapeutics in a report on Tuesday, January 6th. Craig Hallum reaffirmed a “buy” rating and set a $116.00 target price on shares of Apogee Therapeutics in a report on Wednesday, January 7th. Finally, Mizuho began coverage on Apogee Therapeutics in a research report on Tuesday, October 21st. They issued an “outperform” rating and a $105.00 price target on the stock.

Insider Buying and Selling at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 18,700 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $77.84, for a total transaction of $1,455,608.00. Following the completion of the transaction, the insider owned 212,523 shares in the company, valued at approximately $16,542,790.32. This trade represents a 8.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Thomas Henderson sold 20,000 shares of the company’s stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $81.11, for a total transaction of $1,622,200.00. Following the completion of the sale, the chief executive officer directly owned 1,192,987 shares in the company, valued at approximately $96,763,175.57. This represents a 1.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 1,890,385 shares of company stock valued at $143,782,438. 42.77% of the stock is currently owned by company insiders.

Institutional Trading of Apogee Therapeutics

Several large investors have recently modified their holdings of APGE. ANTIPODES PARTNERS Ltd lifted its position in shares of 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 acquiring an additional 246 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Apogee Therapeutics by 18.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,779 shares of the company’s stock valued at $77,000 after purchasing an additional 272 shares during the period. Comerica Bank boosted its position in shares of Apogee Therapeutics by 1.0% during the 4th quarter. Comerica Bank now owns 35,872 shares of the company’s stock worth $2,708,000 after purchasing an additional 338 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Apogee Therapeutics by 99.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 769 shares of the company’s stock valued at $33,000 after buying an additional 383 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Apogee Therapeutics by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,529 shares of the company’s stock valued at $921,000 after buying an additional 694 shares during the period. Institutional investors and hedge funds own 79.04% of the company’s stock.

Apogee Therapeutics Stock Performance

NASDAQ APGE opened at $65.63 on Tuesday. The firm’s fifty day moving average price is $75.58 and its two-hundred day moving average price is $55.86. The stock has a market cap of $4.48 billion, a PE ratio of -14.98 and a beta of 1.42. Apogee Therapeutics has a fifty-two week low of $26.20 and a fifty-two week high of $84.56.

Apogee Therapeutics (NASDAQ:APGE) last released its quarterly earnings data on Monday, November 10th. The company reported ($1.11) earnings per share for the quarter, beating the consensus estimate of ($1.14) by $0.03. As a group, sell-side analysts predict that Apogee Therapeutics will post -3.09 earnings per share for the current fiscal year.

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.