Apogee Therapeutics Inc. (NASDAQ:APGE) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Apogee Therapeutics Inc. (NASDAQ:APGE) have been given an average rating of “Moderate Buy” by the sixteen brokerages that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, eight have given a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $103.9167.

APGE has been the topic of a number of research analyst reports. Stifel Nicolaus set a $133.00 price objective on shares of Apogee Therapeutics in a research report on Tuesday, January 6th. Wedbush lifted their target price on shares of Apogee Therapeutics from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 3rd. Truist Financial initiated coverage on shares of Apogee Therapeutics in a research note on Tuesday, March 17th. They set a “hold” rating and a $83.00 target price for the company. Royal Bank Of Canada lowered their price target on Apogee Therapeutics from $83.00 to $82.00 and set a “sector perform” rating on the stock in a report on Monday, March 2nd. Finally, UBS Group upgraded Apogee Therapeutics to a “strong-buy” rating in a research note on Wednesday, January 7th.

Apogee Therapeutics Stock Performance

NASDAQ APGE opened at $66.04 on Wednesday. Apogee Therapeutics has a one year low of $26.20 and a one year high of $84.56. The stock has a 50-day moving average of $71.25 and a 200 day moving average of $63.40. The company has a market capitalization of $4.59 billion, a price-to-earnings ratio of -15.65 and a beta of 1.39.

Apogee Therapeutics (NASDAQ:APGE) last posted its earnings results on Monday, March 2nd. The company reported ($1.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.05) by $0.02. On average, equities analysts predict that Apogee Therapeutics will post -3.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Apogee Therapeutics

In other Apogee Therapeutics news, Director Fairmount Funds Management Llc sold 1,750,000 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $76.30, for a total value of $133,525,000.00. Following the transaction, the director directly owned 298,647 shares of the company’s stock, valued at approximately $22,786,766.10. This trade represents a 85.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Carl Dambkowski sold 18,700 shares of the business’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $77.84, for a total value of $1,455,608.00. Following the sale, the insider owned 212,523 shares of the company’s stock, valued at approximately $16,542,790.32. This represents a 8.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 1,839,700 shares of company stock valued at $140,118,083. 42.77% of the stock is owned by company insiders.

Institutional Trading of Apogee Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its position in Apogee Therapeutics by 0.5% in the fourth quarter. Wellington Management Group LLP now owns 4,746,585 shares of the company’s stock worth $358,272,000 after acquiring an additional 22,884 shares during the period. Vanguard Group Inc. grew its position in shares of Apogee Therapeutics by 27.3% during the 4th quarter. Vanguard Group Inc. now owns 2,857,824 shares of the company’s stock valued at $215,709,000 after acquiring an additional 612,193 shares during the period. T. Rowe Price Investment Management Inc. grew its position in shares of Apogee Therapeutics by 189,522.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,732,456 shares of the company’s stock valued at $206,246,000 after acquiring an additional 2,731,015 shares during the period. Perceptive Advisors LLC increased its stake in shares of Apogee Therapeutics by 72.4% in the 4th quarter. Perceptive Advisors LLC now owns 2,330,651 shares of the company’s stock worth $175,918,000 after purchasing an additional 978,662 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Apogee Therapeutics by 324.4% in the 4th quarter. Janus Henderson Group PLC now owns 2,062,604 shares of the company’s stock worth $155,697,000 after purchasing an additional 1,576,626 shares in the last quarter. 79.04% of the stock is owned by hedge funds and other institutional investors.

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.