Shares of Apogee Therapeutics Inc. (NASDAQ:APGE – Get Free Report) saw an uptick in trading volume on Tuesday . Approximately 1,804,151 shares changed hands during mid-day trading, an increase of 7% from the previous session’s volume of 1,692,188 shares.The stock last traded at $132.6650 and had previously closed at $132.61.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on APGE shares. BTIG Research reaffirmed a “buy” rating and issued a $137.00 price objective on shares of Apogee Therapeutics in a research note on Wednesday, May 27th. Canaccord Genuity Group cut shares of Apogee Therapeutics from a “buy” rating to a “hold” rating and lifted their target price for the stock from $130.00 to $135.11 in a research report on Monday, June 22nd. Stifel Nicolaus reissued a “hold” rating and issued a $135.00 price target (up from $133.00) on shares of Apogee Therapeutics in a research note on Wednesday, June 24th. UBS Group lowered shares of Apogee Therapeutics from a “buy” rating to a “neutral” rating and upped their price target for the company from $100.00 to $135.11 in a research report on Tuesday, June 23rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Apogee Therapeutics in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $121.25.
Read Our Latest Research Report on Apogee Therapeutics
Apogee Therapeutics Stock Up 0.0%
Apogee Therapeutics (NASDAQ:APGE – Get Free Report) last issued its 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. As a group, sell-side 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 the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $132.54, for a total transaction of $10,603,200.00. Following the completion of the transaction, the chief executive officer directly owned 1,015,987 shares of the company’s stock, valued at approximately $134,658,916.98. This represents a 7.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible 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 the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $132.60, for a total transaction of $3,500,640.00. Following the sale, the insider 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. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 182,900 shares of company stock valued at $20,427,135 in the last three months. 24.30% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP lifted its holdings in Apogee Therapeutics by 0.5% in the 4th quarter. Wellington Management Group LLP now owns 4,746,585 shares of the company’s stock worth $358,272,000 after buying an additional 22,884 shares during the period. Vanguard Group Inc. increased its stake in shares of Apogee Therapeutics by 27.3% during the fourth quarter. Vanguard Group Inc. now owns 2,857,824 shares of the company’s stock valued at $215,709,000 after buying an additional 612,193 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in shares of Apogee Therapeutics by 189,522.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,732,456 shares of the company’s stock valued at $206,246,000 after buying an additional 2,731,015 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Apogee Therapeutics by 14.4% during the first quarter. Janus Henderson Group PLC now owns 2,360,596 shares of the company’s stock valued at $198,809,000 after acquiring an additional 297,992 shares in the last quarter. Finally, Perceptive Advisors LLC raised its holdings in shares of Apogee Therapeutics by 72.4% during the fourth quarter. Perceptive Advisors LLC now owns 2,330,651 shares of the company’s stock valued at $175,918,000 after acquiring an additional 978,662 shares in the last quarter. Hedge funds and other institutional investors own 79.04% of the company’s stock.
About Apogee Therapeutics
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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