Truist Financial Cuts Apogee Therapeutics (NASDAQ:APGE) Price Target to $81.00

Apogee Therapeutics (NASDAQ:APGE) had its price target decreased by equities research analysts at Truist Financial from $83.00 to $81.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s price target would suggest a potential upside of 3.54% from the company’s current price.

Other research analysts have also issued research reports about the company. Rothschild & Co Redburn started coverage on Apogee Therapeutics in a report on Friday, May 1st. They set a “buy” rating and a $140.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Apogee Therapeutics in a report on Monday, April 20th. Guggenheim lifted their target price on Apogee Therapeutics from $130.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Wedbush lifted their price target on Apogee Therapeutics from $120.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Canaccord Genuity Group lifted their price target on Apogee Therapeutics from $89.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.27.

Apogee Therapeutics Stock Down 5.5%

APGE traded down $4.58 during trading hours on Wednesday, hitting $78.23. The stock had a trading volume of 2,949,406 shares, compared to its average volume of 940,789. The company’s fifty day simple moving average is $82.28 and its 200 day simple moving average is $75.46. Apogee Therapeutics has a 1 year low of $34.34 and a 1 year high of $95.32. The stock has a market cap of $4.84 billion, a PE ratio of -18.06 and a beta of 0.69.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly earnings data on Monday, May 11th. The company reported ($1.06) earnings per share for the quarter, topping the consensus estimate of ($1.07) by $0.01. As a group, equities analysts expect that Apogee Therapeutics will post -4.48 EPS for the current year.

Insider Transactions at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 5,500 shares of the business’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $84.14, for a total transaction of $462,770.00. Following the sale, the insider owned 207,023 shares in the company, valued at approximately $17,418,915.22. The trade was a 2.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Thomas Henderson sold 20,000 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $74.78, for a total value of $1,495,600.00. Following the completion of the transaction, the chief executive officer owned 1,152,987 shares of the company’s stock, valued at $86,220,367.86. The trade was a 1.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 76,500 shares of company stock worth $6,109,220. 24.30% of the stock is owned by corporate insiders.

Institutional Trading of Apogee Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Rockefeller Capital Management L.P. acquired a new stake in shares of Apogee Therapeutics during the fourth quarter worth about $25,000. ANTIPODES PARTNERS Ltd increased its position in shares of Apogee Therapeutics by 41.2% during the third quarter. ANTIPODES PARTNERS Ltd now owns 843 shares of the company’s stock worth $33,000 after purchasing an additional 246 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Apogee Therapeutics during the fourth quarter worth about $37,000. 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 purchasing an additional 246 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Apogee Therapeutics during the third quarter worth about $96,000. 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 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.