Apogee Therapeutics Inc. (NASDAQ:APGE – Get Free Report) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $133.85 and last traded at $132.8250, with a volume of 120634 shares changing hands. The stock had previously closed at $132.77.
Analysts Set New Price Targets
Several brokerages have recently weighed in on APGE. Stifel Nicolaus restated a “hold” rating and issued a $135.00 target price (up from $133.00) on shares of Apogee Therapeutics in a research note on Wednesday, June 24th. Mizuho reaffirmed a “neutral” rating and set a $135.00 price target (up from $110.00) on shares of Apogee Therapeutics in a research note on Wednesday, June 24th. Canaccord Genuity Group cut shares of Apogee Therapeutics from a “buy” rating to a “hold” rating and upped their price objective for the company from $130.00 to $135.11 in a research report on Monday, June 22nd. Citigroup downgraded Apogee Therapeutics from a “buy” rating to a “neutral” rating and raised their target price for the company from $125.00 to $135.00 in a research note on Tuesday, June 23rd. Finally, TD Cowen lowered Apogee Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $121.25.
Read Our Latest Stock Analysis on APGE
Apogee Therapeutics Price Performance
Apogee Therapeutics (NASDAQ:APGE – Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The company reported ($1.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.07) by $0.01. Equities analysts predict that Apogee Therapeutics Inc. will post -4.45 earnings per share for the current fiscal year.
Insider Activity
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 value of $10,603,200.00. Following the sale, the chief executive officer owned 1,015,987 shares in the company, valued at approximately $134,658,916.98. This represents a 7.30% decrease in their position. The sale was disclosed in a document filed 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 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 transaction, the insider directly owned 179,248 shares in the company, valued at $23,768,284.80. The trade was a 12.84% decrease in their position. 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 177,400 shares of company stock valued at $19,960,515 in the last three months. Insiders own 24.30% of the company’s stock.
Institutional Investors Weigh In On Apogee Therapeutics
Several institutional investors and hedge funds have recently made changes to their positions in APGE. Rockefeller Capital Management L.P. acquired a new stake in shares of Apogee Therapeutics during the fourth quarter worth $25,000. Los Angeles Capital Management LLC acquired a new position in shares of Apogee Therapeutics in the 4th quarter valued at about $37,000. EverSource Wealth Advisors LLC grew its position in shares of Apogee Therapeutics by 61.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 645 shares of the company’s stock valued at $54,000 after buying an additional 246 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Apogee Therapeutics during the 3rd quarter valued at about $96,000. Finally, Seven Fleet Capital Management LP acquired a new stake in Apogee Therapeutics during the fourth quarter worth about $136,000. 79.04% of the stock is owned by institutional investors and hedge funds.
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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