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

Shares of Apogee Therapeutics Inc. (NASDAQ:APGE) have earned an average recommendation of “Moderate Buy” from the nineteen ratings firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, five have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $113.6250.

APGE has been the subject of a number of recent analyst reports. Wedbush raised their price objective on Apogee Therapeutics from $120.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Citigroup raised their price objective on Apogee Therapeutics from $95.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Rothschild & Co Redburn initiated coverage on Apogee Therapeutics in a research report on Friday, May 1st. They issued a “buy” rating and a $140.00 price objective for the company. The Goldman Sachs Group set a $89.00 price objective on Apogee Therapeutics in a research report on Thursday, May 28th. Finally, Mizuho raised their price objective on Apogee Therapeutics from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, March 30th.

Insiders Place Their Bets

In other news, CEO Michael Thomas Henderson sold 20,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $82.09, for a total value of $1,641,800.00. Following the completion of the sale, the chief executive officer owned 1,115,987 shares of the company’s stock, valued at $91,611,372.83. This trade represents a 1.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $78.71, for a total value of $432,905.00. Following the sale, the insider directly owned 205,648 shares of the company’s stock, valued at approximately $16,186,554.08. This represents a 2.60% 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 sold a total of 76,500 shares of company stock valued at $6,151,295 in the last three months. Insiders own 24.30% of the company’s stock.

Institutional Trading of Apogee Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its position in Apogee Therapeutics by 0.5% during the 4th 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. lifted its position in Apogee Therapeutics by 27.3% during the 4th quarter. Vanguard Group Inc. now owns 2,857,824 shares of the company’s stock worth $215,709,000 after acquiring an additional 612,193 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in 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 worth $206,246,000 after acquiring an additional 2,731,015 shares during the period. Janus Henderson Group PLC lifted its position in Apogee Therapeutics by 14.4% during the 1st quarter. Janus Henderson Group PLC now owns 2,360,596 shares of the company’s stock worth $198,809,000 after acquiring an additional 297,992 shares during the period. Finally, Perceptive Advisors LLC lifted its position in Apogee Therapeutics by 72.4% during the 4th quarter. Perceptive Advisors LLC now owns 2,330,651 shares of the company’s stock worth $175,918,000 after acquiring an additional 978,662 shares during the period. Institutional investors and hedge funds own 79.04% of the company’s stock.

Apogee Therapeutics Trading Down 4.4%

Shares of NASDAQ:APGE opened at $86.92 on Monday. Apogee Therapeutics has a 12-month low of $34.34 and a 12-month high of $95.32. The business’s fifty day simple moving average is $83.96 and its 200-day simple moving average is $76.58. The company has a market capitalization of $5.38 billion, a PE ratio of -20.07 and a beta of 0.62.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly earnings results on Monday, May 11th. The company reported ($1.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.07) by $0.01. Research analysts predict that Apogee Therapeutics will post -4.45 EPS for the current 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.