Apogee Therapeutics Inc. (NASDAQ:APGE – Get Free Report)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $134.49 and last traded at $134.3160, with a volume of 788 shares changing hands. The stock had previously closed at $134.23.
Analysts Set New Price Targets
Several research firms recently weighed in on APGE. Guggenheim downgraded Apogee Therapeutics from a “buy” rating to a “neutral” rating in a report on Tuesday, June 23rd. Royal Bank Of Canada upped their price target on shares of Apogee Therapeutics from $82.00 to $97.00 and gave the company a “sector perform” rating in a report on Monday, June 8th. Canaccord Genuity Group downgraded shares of Apogee Therapeutics from a “buy” rating to a “hold” rating and increased their price target for the stock from $130.00 to $135.11 in a report on Monday, June 22nd. Wedbush cut shares of Apogee Therapeutics from an “outperform” rating to a “neutral” rating and set a $135.00 price target on the stock. in a research note on Monday, June 22nd. Finally, The Goldman Sachs Group set a $89.00 price objective on Apogee Therapeutics in a research note on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $121.25.
Check Out Our Latest Stock Analysis on APGE
Apogee Therapeutics Trading Up 0.1%
Apogee Therapeutics (NASDAQ:APGE – Get Free Report) last issued its quarterly earnings data on Monday, May 11th. The company reported ($1.06) EPS for the quarter, topping the consensus estimate of ($1.07) by $0.01. On average, equities analysts forecast that Apogee Therapeutics Inc. will post -4.45 earnings per share for the current fiscal year.
Insider Buying and Selling at Apogee Therapeutics
In other news, CEO Michael Thomas Henderson sold 80,000 shares of Apogee Therapeutics stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $132.54, for a total value of $10,603,200.00. Following the completion of the sale, the chief executive officer directly owned 1,015,987 shares of the company’s stock, valued at approximately $134,658,916.98. The trade was a 7.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Carl Dambkowski sold 26,400 shares of Apogee Therapeutics stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $132.60, for a total value of $3,500,640.00. Following the completion of the transaction, the insider directly owned 179,248 shares of the company’s stock, valued at approximately $23,768,284.80. This represents a 12.84% 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. Over the last 90 days, insiders have sold 177,400 shares of company stock valued at $21,248,815. Company insiders own 24.30% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of APGE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Apogee Therapeutics by 2.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,529 shares of the company’s stock worth $921,000 after purchasing an additional 694 shares during the period. Millennium Management LLC boosted its stake in shares of Apogee Therapeutics by 100.0% in the 1st quarter. Millennium Management LLC now owns 260,335 shares of the company’s stock valued at $9,726,000 after buying an additional 130,164 shares during the period. Creative Planning acquired a new position in shares of Apogee Therapeutics during the second quarter worth about $392,000. Legal & General Group Plc grew its position in shares of Apogee Therapeutics by 7.4% during the second quarter. Legal & General Group Plc now owns 27,689 shares of the company’s stock worth $1,203,000 after buying an additional 1,907 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of Apogee Therapeutics by 10,570.6% during the second quarter. Russell Investments Group Ltd. now owns 21,768 shares of the company’s stock worth $945,000 after buying an additional 21,564 shares during the period. 79.04% of the stock is 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.
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