Apogee Therapeutics (NASDAQ:APGE) Raised to Strong-Buy at UBS Group

Apogee Therapeutics (NASDAQ:APGE) was upgraded by UBS Group to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

APGE has been the topic of a number of other reports. Stephens assumed coverage on Apogee Therapeutics in a research report on Tuesday, December 16th. They set an “overweight” rating and a $95.00 target price on the stock. Stifel Nicolaus set a $133.00 price objective on shares of Apogee Therapeutics in a research note on Tuesday. Mizuho began coverage on shares of Apogee Therapeutics in a research report on Tuesday, October 21st. They issued an “outperform” rating and a $105.00 target price on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Apogee Therapeutics in a report on Tuesday, December 9th. They set a “buy” rating and a $103.00 price target on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Apogee Therapeutics in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.27.

Apogee Therapeutics Stock Performance

Apogee Therapeutics stock opened at $77.48 on Wednesday. The firm has a market cap of $5.29 billion, a price-to-earnings ratio of -17.69 and a beta of 1.41. Apogee Therapeutics has a 1 year low of $26.20 and a 1 year high of $80.99. The firm’s 50 day moving average price is $70.46 and its two-hundred day moving average price is $51.59.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly earnings data on Monday, November 10th. The company reported ($1.11) EPS for the quarter, beating analysts’ consensus estimates of ($1.14) by $0.03. As a group, equities analysts predict that Apogee Therapeutics will post -3.09 EPS for the current fiscal year.

Insider Buying and Selling

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $75.38, for a total transaction of $1,507,600.00. Following the completion of the sale, the chief executive officer owned 1,212,987 shares of the company’s stock, valued at $91,434,960.06. This trade represents a 1.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Carl Dambkowski sold 10,900 shares of the company’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $75.00, for a total transaction of $817,500.00. Following the completion of the transaction, the insider directly owned 271,108 shares in the company, valued at $20,333,100. This trade represents a 3.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 101,685 shares of company stock valued at $7,179,630. Insiders own 42.77% of the company’s stock.

Institutional Investors Weigh In On Apogee Therapeutics

Institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in shares of Apogee Therapeutics by 57.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,137,731 shares of the company’s stock valued at $45,202,000 after buying an additional 417,161 shares in the last quarter. Verition Fund Management LLC bought a new position in Apogee Therapeutics during the third quarter valued at about $1,968,000. Vestal Point Capital LP acquired a new stake in Apogee Therapeutics in the 3rd quarter worth approximately $16,885,000. Polar Capital Holdings Plc grew its stake in Apogee Therapeutics by 5.9% in the 3rd quarter. Polar Capital Holdings Plc now owns 524,094 shares of the company’s stock valued at $20,822,000 after buying an additional 29,094 shares during the last quarter. Finally, Prelude Capital Management LLC bought a new position in shares of Apogee Therapeutics in the third quarter worth about $1,043,000. 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.