Brokerages Set Apogee Therapeutics Inc. (NASDAQ:APGE) Price Target at $124.43

Shares of Apogee Therapeutics Inc. (NASDAQ:APGE) have been given a consensus rating of “Hold” by the twenty research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $124.4312.

A number of brokerages have issued reports on APGE. Weiss Ratings reissued a “sell (d-)” rating on shares of Apogee Therapeutics in a report on Friday, July 17th. Canaccord Genuity Group cut shares of Apogee Therapeutics from a “buy” rating to a “hold” rating and raised their price objective for the stock from $130.00 to $135.11 in a research note on Monday, June 22nd. Mizuho reaffirmed a “neutral” rating and set a $135.00 target price (up from $110.00) on shares of Apogee Therapeutics in a report on Wednesday, June 24th. Royal Bank Of Canada boosted their target price on shares of Apogee Therapeutics from $82.00 to $97.00 and gave the company a “sector perform” rating in a research note on Monday, June 8th. Finally, The Goldman Sachs Group set a $89.00 price target on shares of Apogee Therapeutics in a report on Thursday, May 28th.

Apogee Therapeutics Stock Performance

NASDAQ:APGE opened at $134.75 on Friday. Apogee Therapeutics has a one year low of $35.39 and a one year high of $134.88. The firm has a market cap of $8.38 billion, a price-to-earnings ratio of -31.05 and a beta of 0.34. The firm’s fifty day moving average is $129.31 and its two-hundred day moving average is $96.10.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly earnings results on Monday, August 10th. The company reported ($1.14) earnings per share for the quarter, missing the consensus estimate of ($1.07) by ($0.07). As a group, equities research analysts predict that Apogee Therapeutics will post -4.47 earnings per share for the current fiscal year.

Insider Transactions at Apogee Therapeutics

In other news, CEO Michael Thomas Henderson sold 80,000 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $132.54, for a total transaction of $10,603,200.00. Following the sale, the chief executive officer directly owned 1,015,987 shares of the company’s stock, valued at $134,658,916.98. This represents a 7.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Carl Dambkowski sold 26,400 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $132.60, for a total transaction of $3,500,640.00. Following the sale, the insider directly owned 179,248 shares in the company, valued at approximately $23,768,284.80. The trade was a 12.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 162,900 shares of company stock valued at $20,344,950. Insiders own 24.30% of the company’s stock.

Institutional Trading of Apogee Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Rockefeller Capital Management L.P. acquired a new position in shares of Apogee Therapeutics during the 4th quarter worth approximately $25,000. Los Angeles Capital Management LLC acquired a new stake in Apogee Therapeutics in the 4th quarter valued at $37,000. GAMMA Investing LLC grew its stake in Apogee Therapeutics by 40.5% in the 2nd quarter. GAMMA Investing LLC now owns 309 shares of the company’s stock valued at $41,000 after acquiring an additional 89 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Apogee Therapeutics by 61.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 645 shares of the company’s stock worth $54,000 after acquiring an additional 246 shares in the last quarter. Finally, Longfellow Investment Management Co. LLC purchased a new stake in Apogee Therapeutics in the 2nd quarter worth $81,000. 79.04% of the stock is currently owned by hedge funds and other institutional investors.

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.