Brokerages Set Apogee Therapeutics Inc. (NASDAQ:APGE) Price Target at $105.45

Apogee Therapeutics Inc. (NASDAQ:APGE) has been given an average rating of “Moderate Buy” by the fourteen analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation, seven have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $105.4545.

Several brokerages have issued reports on APGE. Wolfe Research assumed coverage on Apogee Therapeutics in a report on Wednesday, January 7th. They issued a “peer perform” rating for the company. Wall Street Zen cut Apogee Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, December 6th. Stephens assumed coverage on shares of Apogee Therapeutics in a research note on Tuesday, December 16th. They issued an “overweight” rating and a $95.00 price target on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Apogee Therapeutics in a report on Tuesday, December 9th. They issued a “buy” rating and a $103.00 price target for the company. Finally, Stifel Nicolaus set a $133.00 price objective on shares of Apogee Therapeutics in a report on Tuesday, January 6th.

Apogee Therapeutics Stock Performance

Shares of NASDAQ APGE opened at $65.51 on Tuesday. Apogee Therapeutics has a 52-week low of $26.20 and a 52-week high of $84.56. The stock has a market cap of $4.48 billion, a P/E ratio of -14.96 and a beta of 1.41. The firm has a 50 day moving average price of $75.63 and a 200 day moving average price of $55.55.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly earnings results on Monday, November 10th. The company reported ($1.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.14) by $0.03. Analysts predict that Apogee Therapeutics will post -3.09 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Carl Dambkowski sold 18,700 shares of the company’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $77.84, for a total transaction of $1,455,608.00. Following the completion of the transaction, the insider directly owned 212,523 shares of the company’s stock, valued at $16,542,790.32. This represents a 8.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Fairmount Funds Management Llc sold 1,750,000 shares of Apogee Therapeutics stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $76.30, for a total value of $133,525,000.00. Following the completion of the sale, the director directly owned 298,647 shares in the company, valued at approximately $22,786,766.10. This represents a 85.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,890,385 shares of company stock worth $143,782,438 over the last three months. Corporate insiders own 42.77% of the company’s stock.

Institutional Trading of Apogee Therapeutics

A number of institutional investors have recently made changes to their positions in APGE. Wellington Management Group LLP grew its position in Apogee Therapeutics by 24.1% in the third quarter. Wellington Management Group LLP now owns 4,723,701 shares of the company’s stock valued at $187,673,000 after purchasing an additional 917,991 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of 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 buying an additional 612,193 shares during the last quarter. Paradigm Biocapital Advisors LP grew its holdings in shares of Apogee Therapeutics by 58.7% in the 3rd quarter. Paradigm Biocapital Advisors LP now owns 1,521,757 shares of the company’s stock valued at $60,459,000 after acquiring an additional 563,127 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Apogee Therapeutics by 2.2% in the third quarter. Alliancebernstein L.P. now owns 1,419,132 shares of the company’s stock valued at $56,382,000 after acquiring an additional 30,983 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its position in shares of Apogee Therapeutics by 77.5% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,290,464 shares of the company’s stock valued at $56,045,000 after acquiring an additional 563,464 shares during the last quarter. Institutional investors 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.