Brokerages Set Apogee Therapeutics Inc. (NASDAQ:APGE) Target Price at $124.43

Apogee Therapeutics Inc. (NASDAQ:APGE) has been assigned an average recommendation of “Hold” from the twenty ratings firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, fifteen have assigned a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $124.4312.

A number of research firms have recently commented on APGE. The Goldman Sachs Group set a $89.00 price objective on shares of Apogee Therapeutics in a research note on Thursday, May 28th. Deutsche Bank Aktiengesellschaft downgraded shares of Apogee Therapeutics from a “buy” rating to a “hold” rating and lifted their target price for the stock from $116.00 to $135.00 in a research note on Monday, June 22nd. Craig Hallum set a $135.11 price target on shares of Apogee Therapeutics and gave the company a “hold” rating in a research report on Monday, June 22nd. Royal Bank Of Canada upped their price target on shares of Apogee Therapeutics from $82.00 to $97.00 and gave the company a “sector perform” rating in a research report on Monday, June 8th. Finally, UBS Group downgraded Apogee Therapeutics from a “buy” rating to a “neutral” rating and increased their price target for the stock from $100.00 to $135.11 in a report on Tuesday, June 23rd.

Apogee Therapeutics Price Performance

Apogee Therapeutics stock opened at $134.71 on Friday. The stock’s 50 day moving average is $127.48 and its 200 day moving average is $95.34. Apogee Therapeutics has a one year low of $35.39 and a one year high of $134.88. The firm has a market cap of $8.38 billion, a P/E ratio of -31.04 and a beta of 0.34.

Apogee Therapeutics (NASDAQ:APGE) last released its earnings results on Monday, August 10th. The company reported ($1.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.07). Equities analysts anticipate that Apogee Therapeutics will post -4.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Apogee Therapeutics news, insider Carl Dambkowski sold 5,500 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $134.17, for a total transaction of $737,935.00. Following the transaction, the insider directly owned 168,498 shares in the company, valued at approximately $22,607,376.66. This represents a 3.16% decrease in their position. The transaction 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, CEO Michael Thomas Henderson sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $133.63, for a total transaction of $2,672,600.00. Following the sale, the chief executive officer directly owned 995,987 shares of the company’s stock, valued at approximately $133,093,742.81. This trade represents a 1.97% 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. Over the last quarter, insiders sold 162,900 shares of company stock valued at $20,344,950. 24.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Rockefeller Capital Management L.P. acquired a new stake in Apogee Therapeutics in the fourth quarter worth $25,000. Los Angeles Capital Management LLC acquired a new position in shares of Apogee Therapeutics during the fourth quarter valued at about $37,000. GAMMA Investing LLC raised its holdings in shares of Apogee Therapeutics by 40.5% during the second quarter. GAMMA Investing LLC now owns 309 shares of the company’s stock valued at $41,000 after purchasing an additional 89 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Apogee Therapeutics by 61.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 645 shares of the company’s stock worth $54,000 after purchasing an additional 246 shares in the last quarter. Finally, Longfellow Investment Management Co. LLC bought a new position in shares of Apogee Therapeutics during the 2nd quarter worth about $81,000. Institutional investors and hedge funds own 79.04% of the company’s stock.

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 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.