Apogee Therapeutics (NASDAQ:APGE) Hits New 52-Week High – Should You Buy?

Shares of Apogee Therapeutics Inc. (NASDAQ:APGE) hit a new 52-week high on Monday . The stock traded as high as $132.67 and last traded at $132.8380, with a volume of 7539293 shares changing hands. The stock had previously closed at $90.38.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on APGE. Citigroup boosted their target price on shares of Apogee Therapeutics from $95.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th. Guggenheim lifted their price objective on shares of Apogee Therapeutics from $130.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. BTIG Research reiterated a “buy” rating and issued a $137.00 price objective on shares of Apogee Therapeutics in a research report on Wednesday, May 27th. Wedbush increased their target price on shares of Apogee Therapeutics from $120.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Finally, Truist Financial dropped their price objective on Apogee Therapeutics from $83.00 to $81.00 and set a “hold” rating on the stock in a report on Wednesday, May 27th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Apogee Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $114.88.

Apogee Therapeutics Stock Performance

The firm’s 50 day moving average is $84.90 and its 200-day moving average is $78.01. The company has a market cap of $8.21 billion, a PE ratio of -30.63 and a beta of 0.62.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly earnings data on Monday, May 11th. The company reported ($1.06) EPS for the quarter, topping analysts’ consensus estimates of ($1.07) by $0.01. On average, analysts predict that Apogee Therapeutics Inc. will post -4.45 EPS for the current year.

Insider Transactions at Apogee Therapeutics

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $83.38, for a total transaction of $1,667,600.00. Following the transaction, the chief executive officer directly owned 1,095,987 shares of the company’s stock, valued at $91,383,396.06. The trade was a 1.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Carl Dambkowski sold 5,500 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $78.71, for a total transaction of $432,905.00. Following the completion of the transaction, the insider owned 205,648 shares in the company, valued at $16,186,554.08. The trade was a 2.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 76,500 shares of company stock valued at $6,323,295 in the last three months. 24.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in APGE. Commonwealth Equity Services LLC boosted its position in shares of Apogee Therapeutics by 2.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 7,151 shares of the company’s stock worth $540,000 after buying an additional 152 shares during the period. Seven Fleet Capital Management LP grew its stake in shares of Apogee Therapeutics by 9.4% in the first quarter. Seven Fleet Capital Management LP now owns 1,969 shares of the company’s stock worth $166,000 after acquiring an additional 169 shares in the last quarter. Stifel Financial Corp grew its stake in shares of Apogee Therapeutics by 3.5% in the fourth quarter. Stifel Financial Corp now owns 5,214 shares of the company’s stock worth $394,000 after acquiring an additional 175 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Apogee Therapeutics by 61.7% during the first quarter. EverSource Wealth Advisors LLC now owns 645 shares of the company’s stock worth $54,000 after acquiring an additional 246 shares during the period. Finally, Rockefeller Capital Management L.P. acquired a new stake in shares of Apogee Therapeutics in the fourth quarter valued at $25,000. 79.04% of the stock is currently owned by institutional investors and hedge funds.

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.