Apogee Therapeutics (NASDAQ:APGE) Reaches New 1-Year High – Should You Buy?

Apogee Therapeutics Inc. (NASDAQ:APGE)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $134.35 and last traded at $134.20, with a volume of 428060 shares trading hands. The stock had previously closed at $134.15.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on APGE shares. Craig Hallum set a $135.11 price objective on shares of Apogee Therapeutics and gave the stock a “hold” rating in a research report on Monday, June 22nd. The Goldman Sachs Group set a $89.00 price target on shares of Apogee Therapeutics in a research note on Thursday, May 28th. Guggenheim cut shares of Apogee Therapeutics from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of Apogee Therapeutics in a research note on Friday. Finally, UBS Group lowered Apogee Therapeutics from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $100.00 to $135.11 in a report on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Apogee Therapeutics currently has an average rating of “Hold” and a consensus target price of $121.25.

Apogee Therapeutics Trading Up 0.0%

The business’s fifty day moving average price is $104.47 and its 200 day moving average price is $86.46. The firm has a market capitalization of $8.30 billion, a price-to-earnings ratio of -30.99 and a beta of 0.32.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly earnings results on Monday, May 11th. The company reported ($1.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.07) by $0.01. As a group, sell-side analysts forecast that Apogee Therapeutics Inc. will post -4.45 earnings per share for the current fiscal year.

Insider Transactions at Apogee Therapeutics

In other news, CEO Michael Thomas Henderson sold 20,000 shares of the stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $133.63, for a total transaction of $2,672,600.00. Following the completion of the sale, the chief executive officer owned 995,987 shares in the company, valued at approximately $133,093,742.81. This represents a 1.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Carl Dambkowski sold 5,500 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $132.74, for a total value of $730,070.00. Following the transaction, the insider directly owned 177,873 shares in the company, valued at approximately $23,610,862.02. This represents a 3.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 182,900 shares of company stock valued at $21,711,585 over the last ninety days. Corporate insiders own 24.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Rockefeller Capital Management L.P. purchased a new stake in shares of Apogee Therapeutics during the fourth quarter worth approximately $25,000. Los Angeles Capital Management LLC acquired a new stake in shares of Apogee Therapeutics during the fourth quarter worth $37,000. GAMMA Investing LLC grew its position 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 buying an additional 89 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Apogee Therapeutics by 61.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 645 shares of the company’s stock valued at $54,000 after buying an additional 246 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in Apogee Therapeutics in the 3rd quarter valued at $96,000. Institutional investors and hedge funds own 79.04% of the company’s stock.

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.