Analysts Set Apogee Therapeutics Inc. (NASDAQ:APGE) Price Target at $104.58

Apogee Therapeutics Inc. (NASDAQ:APGE) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, eight have assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $104.5833.

A number of brokerages recently weighed in on APGE. Jefferies Financial Group restated a “buy” rating and set a $95.00 price objective on shares of Apogee Therapeutics in a research report on Monday, February 2nd. Royal Bank Of Canada lowered shares of Apogee Therapeutics from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from $70.00 to $83.00 in a research note on Thursday, January 22nd. UBS Group raised Apogee Therapeutics to a “strong-buy” rating in a report on Wednesday, January 7th. Stifel Nicolaus set a $133.00 price objective on Apogee Therapeutics in a report on Tuesday, January 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Apogee Therapeutics in a research report on Wednesday, January 21st.

Apogee Therapeutics Stock Performance

APGE opened at $69.91 on Friday. The company’s 50-day simple moving average is $73.54 and its two-hundred day simple moving average is $58.84. The stock has a market capitalization of $4.78 billion, a P/E ratio of -15.96 and a beta of 1.42. Apogee Therapeutics has a 52-week low of $26.20 and a 52-week high of $84.56.

Insider Activity

In related news, insider Carl Dambkowski sold 5,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $65.79, for a total transaction of $361,845.00. Following the completion of the sale, the insider directly owned 211,148 shares in the company, valued at approximately $13,891,426.92. The trade was a 2.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael Thomas Henderson sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $63.35, for a total transaction of $1,267,000.00. Following the sale, the chief executive officer directly owned 1,172,987 shares of the company’s stock, valued at approximately $74,308,726.45. This represents a 1.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,885,100 shares of company stock valued at $143,557,153 in the last quarter. 42.77% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC increased 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 worth $33,000 after purchasing an additional 383 shares in the last quarter. ANTIPODES PARTNERS Ltd grew its holdings in Apogee Therapeutics by 41.2% during the third quarter. ANTIPODES PARTNERS Ltd now owns 843 shares of the company’s stock valued at $33,000 after purchasing an additional 246 shares during the period. Los Angeles Capital Management LLC purchased a new stake in Apogee Therapeutics in the fourth quarter worth about $37,000. Quantbot Technologies LP purchased a new stake in Apogee Therapeutics in the third quarter worth about $96,000. Finally, BNP Paribas Financial Markets raised its stake in shares of Apogee Therapeutics by 34.7% in the second quarter. BNP Paribas Financial Markets now owns 3,649 shares of the company’s stock worth $158,000 after buying an additional 941 shares during the period. Hedge funds and other institutional investors 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.