Brokerages Set Apogee Therapeutics Inc. (NASDAQ:APGE) PT at $113.63

Shares of Apogee Therapeutics Inc. (NASDAQ:APGE – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the nineteen analysts that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation, eleven have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $113.6250.

Several equities research analysts recently weighed in on APGE shares. Canaccord Genuity Group upped their target price on shares of Apogee Therapeutics from $89.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, March 24th. Royal Bank Of Canada cut their target price on shares of Apogee Therapeutics from $83.00 to $82.00 and set a “sector perform” rating on the stock in a research note on Monday, March 2nd. BTIG Research reaffirmed a “buy” rating and set a $137.00 target price on shares of Apogee Therapeutics in a research note on Wednesday, May 27th. Mizuho upped their target price on shares of Apogee Therapeutics from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, March 30th. Finally, Guggenheim upped their target price on shares of Apogee Therapeutics from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, March 24th.

Get Apogee Therapeutics alerts:

View Our Latest Research Report on APGE

Insiders Place Their Bets

In other news, insider Carl Dambkowski sold 5,500 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $78.71, for a total value of $432,905.00. Following the sale, the insider directly owned 205,648 shares in the company, valued at approximately $16,186,554.08. This trade represents a 2.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 on Wednesday, May 13th. The shares were sold at an average price of $82.09, for a total transaction of $1,641,800.00. Following the completion of the sale, the chief executive officer owned 1,115,987 shares in the company, valued at $91,611,372.83. The trade was a 1.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 76,500 shares of company stock worth $6,151,295 over the last 90 days. Company insiders own 24.30% of the company’s stock.

Institutional Investors Weigh In On Apogee Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of APGE. T. Rowe Price Investment Management Inc. raised its stake in Apogee Therapeutics by 189,522.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,732,456 shares of the company’s stock worth $206,246,000 after acquiring an additional 2,731,015 shares in the last quarter. Janus Henderson Group PLC raised its stake in Apogee Therapeutics by 324.4% during the 4th quarter. Janus Henderson Group PLC now owns 2,062,604 shares of the company’s stock worth $155,697,000 after acquiring an additional 1,576,626 shares in the last quarter. Perceptive Advisors LLC raised its stake in Apogee Therapeutics by 72.4% during the 4th quarter. Perceptive Advisors LLC now owns 2,330,651 shares of the company’s stock worth $175,918,000 after acquiring an additional 978,662 shares in the last quarter. Wellington Management Group LLP raised its stake in Apogee Therapeutics by 24.1% during the 3rd quarter. Wellington Management Group LLP now owns 4,723,701 shares of the company’s stock worth $187,673,000 after acquiring an additional 917,991 shares in the last quarter. Finally, UBS Group AG raised its stake in Apogee Therapeutics by 646.1% during the 3rd quarter. UBS Group AG now owns 799,465 shares of the company’s stock worth $31,763,000 after acquiring an additional 692,308 shares in the last quarter. 79.04% of the stock is currently owned by institutional investors and hedge funds.

Apogee Therapeutics Price Performance

Shares of NASDAQ APGE opened at $86.92 on Monday. The company’s 50-day simple moving average is $83.96 and its 200-day simple moving average is $76.67. Apogee Therapeutics has a 52-week low of $34.34 and a 52-week high of $95.32. The firm has a market cap of $5.38 billion, a price-to-earnings ratio of -20.07 and a beta of 0.62.

Apogee Therapeutics (NASDAQ:APGE – Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported ($1.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.07) by $0.01. Equities research analysts anticipate that Apogee Therapeutics will post -4.45 EPS for the current fiscal year.

About Apogee Therapeutics

(Get Free Report)

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.

Featured Articles

• Five stocks we like better than Apogee Therapeutics
• These 3 Insurance Stocks Made New 52-Week Highs: Still Time to Buy?
• 3 Stocks Under $20 to Buy Before a Broader Market Rally
• Petco Faces Tough Competition, But Momentum Is Building
• The Lock-In Effect Is Real—These 3 Homebuilders Are Betting on It

Receive News & Ratings for Apogee Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apogee Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.