Brokerages Set Apogee Therapeutics Inc. (NASDAQ:APGE) PT at $112.73

Shares of Apogee Therapeutics Inc. (NASDAQ:APGE) have received a consensus rating of “Moderate Buy” from the eighteen ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, eleven have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $112.7333.

A number of equities research analysts have weighed in on the company. Royal Bank Of Canada reduced their target price on Apogee Therapeutics from $83.00 to $82.00 and set a “sector perform” rating on the stock in a report on Monday, March 2nd. Rothschild & Co Redburn initiated coverage on Apogee Therapeutics in a report on Friday, May 1st. They set a “buy” rating and a $140.00 price target for the company. Canaccord Genuity Group upped their price objective on Apogee Therapeutics from $89.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Truist Financial initiated coverage on Apogee Therapeutics in a research report on Tuesday, March 17th. They set a “hold” rating and a $83.00 price objective for the company. Finally, Wedbush raised their price objective on Apogee Therapeutics from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, March 3rd.

Insider Transactions at Apogee Therapeutics

In other news, insider Carl Dambkowski sold 5,500 shares of the stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $84.14, for a total value of $462,770.00. Following the completion of the transaction, the insider owned 207,023 shares of the company’s stock, valued at approximately $17,418,915.22. This represents a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 Apogee Therapeutics stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $74.78, for a total transaction of $1,495,600.00. Following the sale, the chief executive officer directly owned 1,152,987 shares in the company, valued at $86,220,367.86. This trade represents a 1.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 56,500 shares of company stock valued at $4,467,420 in the last three months. Company insiders own 24.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in Apogee Therapeutics by 57.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,137,731 shares of the company’s stock worth $45,202,000 after purchasing an additional 417,161 shares in the last quarter. Rafferty Asset Management LLC increased its stake in shares of Apogee Therapeutics by 55.9% in the third quarter. Rafferty Asset Management LLC now owns 65,796 shares of the company’s stock valued at $2,614,000 after buying an additional 23,585 shares during the period. Exane Asset Management bought a new position in Apogee Therapeutics in the 3rd quarter valued at approximately $2,048,000. Boxer Capital Management LLC bought a new position in Apogee Therapeutics in the 3rd quarter valued at approximately $1,986,000. Finally, HighVista Strategies LLC boosted its position in Apogee Therapeutics by 137.7% during the 3rd quarter. HighVista Strategies LLC now owns 107,107 shares of the company’s stock worth $4,255,000 after buying an additional 62,055 shares during the period. 79.04% of the stock is currently owned by institutional investors.

Apogee Therapeutics Trading Up 1.2%

Shares of NASDAQ:APGE opened at $83.94 on Thursday. The firm has a 50 day moving average of $80.76 and a 200-day moving average of $73.82. Apogee Therapeutics has a 12 month low of $34.34 and a 12 month high of $95.32. The stock has a market capitalization of $5.20 billion, a PE ratio of -19.39 and a beta of 0.69.

Apogee Therapeutics (NASDAQ:APGE) last posted its quarterly earnings results on Monday, May 11th. The company reported ($1.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.07) by $0.01. On average, research analysts predict that Apogee Therapeutics will post -4.57 EPS for the current fiscal year.

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.