Analysts Set Apogee Therapeutics Inc. (NASDAQ:APGE) PT at $121.25

Apogee Therapeutics Inc. (NASDAQ:APGE) has been assigned a consensus rating of “Hold” from the twenty-one research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, fifteen have assigned a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $121.2547.

Several research analysts recently issued reports on the stock. Rothschild & Co Redburn started coverage on shares of Apogee Therapeutics in a report on Friday, May 1st. They set a “buy” rating and a $140.00 price target for the company. Canaccord Genuity Group downgraded Apogee Therapeutics from a “buy” rating to a “hold” rating and increased their target price for the stock from $130.00 to $135.11 in a research note on Monday, June 22nd. Deutsche Bank Aktiengesellschaft cut Apogee Therapeutics from a “buy” rating to a “hold” rating and raised their price target for the company from $116.00 to $135.00 in a report on Monday, June 22nd. UBS Group downgraded Apogee Therapeutics from a “buy” rating to a “neutral” rating and raised their target price for the company from $100.00 to $135.11 in a report on Tuesday, June 23rd. Finally, Craig Hallum set a $135.11 price target on shares of Apogee Therapeutics and gave the company a “hold” rating in a report on Monday, June 22nd.

Apogee Therapeutics Price Performance

Apogee Therapeutics stock opened at $134.28 on Tuesday. The business has a 50 day simple moving average of $108.57 and a 200-day simple moving average of $88.02. Apogee Therapeutics has a 12 month low of $34.34 and a 12 month high of $134.40. The stock has a market capitalization of $8.31 billion, a PE ratio of -31.01 and a beta of 0.32.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly earnings data on Monday, May 11th. The company reported ($1.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.07) by $0.01. As a group, equities research analysts anticipate that Apogee Therapeutics will post -4.45 EPS for the current year.

Insider Buying and Selling at Apogee Therapeutics

In related news, CEO Michael Thomas Henderson sold 80,000 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $132.54, for a total value 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 approximately $134,658,916.98. This trade represents a 7.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Carl Dambkowski sold 26,400 shares of Apogee Therapeutics stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $132.60, for a total transaction of $3,500,640.00. Following the transaction, the insider directly owned 179,248 shares in the company, valued at approximately $23,768,284.80. This trade represents 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. Insiders have sold a total of 182,900 shares of company stock valued at $21,711,585 in the last ninety days. Corporate insiders own 24.30% of the company’s stock.

Institutional Investors Weigh In On Apogee Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of APGE. TD Asset Management Inc boosted its holdings in Apogee Therapeutics by 55.3% in the fourth quarter. TD Asset Management Inc now owns 129,290 shares of the company’s stock worth $9,759,000 after purchasing an additional 46,050 shares during the period. Banque Pictet & Cie SA bought a new position in Apogee Therapeutics in the 4th quarter worth approximately $3,155,000. Vanguard Group Inc. boosted 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. Pictet Asset Management Holding SA bought a new position in Apogee Therapeutics in the 4th quarter valued at about $23,616,000. Finally, Jennison Associates LLC bought a new position in shares of Apogee Therapeutics in the fourth quarter valued at approximately $43,675,000. 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 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.