Apogee Therapeutics (NASDAQ:APGE) Upgraded to Strong-Buy at Rothschild & Co Redburn

Apogee Therapeutics (NASDAQ:APGE) was upgraded by analysts at Rothschild & Co Redburn to a “strong-buy” rating in a research note issued on Friday,Zacks.com reports.

A number of other research firms also recently commented on APGE. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Apogee Therapeutics in a report on Monday, April 20th. Royal Bank Of Canada decreased their price target on Apogee Therapeutics from $83.00 to $82.00 and set a “sector perform” rating for the company in a report on Monday, March 2nd. Guggenheim boosted their price target on Apogee Therapeutics from $130.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. UBS Group raised Apogee Therapeutics to a “strong-buy” rating in a report on Wednesday, January 7th. Finally, Wolfe Research initiated coverage on Apogee Therapeutics in a report on Wednesday, January 7th. They issued a “peer perform” rating for the company. Three equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Apogee Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $112.73.

Apogee Therapeutics Stock Down 2.6%

Apogee Therapeutics stock opened at $80.75 on Friday. Apogee Therapeutics has a 52 week low of $34.34 and a 52 week high of $95.32. The company has a market capitalization of $4.99 billion, a price-to-earnings ratio of -19.14 and a beta of 0.69. The stock has a 50-day moving average price of $78.89 and a 200 day moving average price of $72.14.

Apogee Therapeutics (NASDAQ:APGE) last released its earnings results on Monday, March 2nd. The company reported ($1.03) EPS for the quarter, topping analysts’ consensus estimates of ($1.05) by $0.02. Research analysts anticipate that Apogee Therapeutics will post -4.57 EPS for the current fiscal year.

Insider Buying and Selling

In other Apogee Therapeutics news, insider Carl Dambkowski sold 5,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $84.84, for a total value of $466,620.00. Following the completion of the transaction, the insider directly owned 208,398 shares of the company’s stock, valued at approximately $17,680,486.32. The trade was a 2.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Thomas Henderson sold 20,000 shares of the business’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 value of $1,267,000.00. Following the completion of the sale, the chief executive officer owned 1,172,987 shares of the company’s stock, valued at $74,308,726.45. This trade represents a 1.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 76,500 shares of company stock valued at $5,633,495 over the last three months. 42.77% of the stock is currently owned by corporate insiders.

Institutional Trading of Apogee Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Fifth Third Bancorp purchased a new stake in shares of Apogee Therapeutics in the first quarter valued at approximately $5,370,000. Candriam S.C.A. increased its position in shares of Apogee Therapeutics by 16.8% in the first quarter. Candriam S.C.A. now owns 223,541 shares of the company’s stock valued at $18,815,000 after buying an additional 32,223 shares in the last quarter. Strs Ohio increased its position in shares of Apogee Therapeutics by 33.3% in the first quarter. Strs Ohio now owns 4,400 shares of the company’s stock valued at $370,000 after buying an additional 1,100 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new stake in shares of Apogee Therapeutics in the fourth quarter valued at approximately $25,000. Finally, Avoro Capital Advisors LLC purchased a new stake in shares of Apogee Therapeutics in the fourth quarter valued at approximately $37,740,000. 79.04% of the stock is currently 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 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.