Apogee Therapeutics Inc. (NASDAQ:APGE) Receives $105.45 Consensus PT from Analysts

Apogee Therapeutics Inc. (NASDAQ:APGE) has earned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation, seven have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $105.4545.

Several analysts have recently weighed in on the stock. Stifel Nicolaus set a $133.00 target price on shares of Apogee Therapeutics in a research report on Tuesday, January 6th. Mizuho began coverage on shares of Apogee Therapeutics in a research note on Tuesday, October 21st. They set an “outperform” rating and a $105.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Apogee Therapeutics in a report on Wednesday, January 21st. Citigroup reiterated a “buy” rating on shares of Apogee Therapeutics in a research note on Sunday. Finally, Wall Street Zen downgraded Apogee Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, December 6th.

Insider Buying and Selling at Apogee Therapeutics

In other news, insider Carl Dambkowski sold 18,700 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $16,542,790.32. The trade was a 8.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Fairmount Funds Management Llc sold 1,750,000 shares of the business’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $76.30, for a total transaction of $133,525,000.00. Following the completion of the sale, the director owned 298,647 shares in the company, valued at $22,786,766.10. This represents a 85.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, 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 hedge funds have recently modified their holdings of the company. Wellington Management Group LLP boosted its holdings in shares of Apogee Therapeutics by 24.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,723,701 shares of the company’s stock worth $187,673,000 after acquiring an additional 917,991 shares in the last quarter. Vanguard Group Inc. increased its holdings in 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 purchasing an additional 612,193 shares in the last quarter. Paradigm Biocapital Advisors LP increased its holdings in Apogee Therapeutics by 58.7% during the 3rd quarter. Paradigm Biocapital Advisors LP now owns 1,521,757 shares of the company’s stock valued at $60,459,000 after purchasing an additional 563,127 shares in the last quarter. Alliancebernstein L.P. raised its position in Apogee Therapeutics by 2.2% in the 3rd quarter. Alliancebernstein L.P. now owns 1,419,132 shares of the company’s stock valued at $56,382,000 after purchasing an additional 30,983 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its stake in Apogee Therapeutics by 77.5% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,290,464 shares of the company’s stock worth $56,045,000 after purchasing an additional 563,464 shares in the last quarter. Institutional investors and hedge funds own 79.04% of the company’s stock.

Apogee Therapeutics Trading Down 1.0%

APGE opened at $69.98 on Tuesday. The stock’s 50 day simple moving average is $75.64 and its 200-day simple moving average is $55.24. The stock has a market cap of $4.78 billion, a PE ratio of -15.98 and a beta of 1.41. Apogee Therapeutics has a 1 year low of $26.20 and a 1 year high of $84.56.

Apogee Therapeutics (NASDAQ:APGE) last issued its earnings results on Monday, November 10th. The company reported ($1.11) EPS for the quarter, topping the consensus estimate of ($1.14) by $0.03. Equities analysts forecast that Apogee Therapeutics will post -3.09 earnings per share for the current fiscal year.

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 ROR?t, a master regulator of T cell-driven inflammatory pathways. By modulating ROR?t 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 ROR?t inverse agonist currently undergoing early-stage clinical evaluation for moderate to severe plaque psoriasis.