Apogee Therapeutics Inc. (NASDAQ:APGE) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Apogee Therapeutics has an average analyst recommendation of “Moderate Buy” from 18 analysts (1 sell, 4 hold, 11 buy, 2 strong buy) with an average 1‑year price target of $112.73.
• Insiders sold 71,000 shares worth $5.27 million in the past three months (including sales by the CEO), though insiders still own 24.30% of the company.
• Shares opened at $84.54 with a 52‑week range of $34.34–$95.32 and a market cap of $5.23 billion; Apogee is a clinical‑stage biotech developing oral RORγt inhibitor APG‑157 for plaque psoriasis and reported slightly better‑than‑expected quarterly EPS of ($1.03) versus ($1.05) est.

Apogee Therapeutics Inc. (NASDAQ:APGE - Get Free Report) has earned an average recommendation of "Moderate Buy" from the eighteen analysts that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $112.7333.

A number of brokerages have recently issued reports on APGE. Jefferies Financial Group reaffirmed a "buy" rating and issued a $95.00 price objective on shares of Apogee Therapeutics in a research note on Monday, February 2nd. Royal Bank Of Canada decreased their price target on 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. Craig Hallum reaffirmed a "buy" rating and issued a $116.00 price target on shares of Apogee Therapeutics in a research note on Wednesday, January 7th. UBS Group raised Apogee Therapeutics to a "strong-buy" rating in a research note on Wednesday, January 7th. Finally, Wolfe Research began coverage on Apogee Therapeutics in a research note on Wednesday, January 7th. They issued a "peer perform" rating on the stock.

Insiders Place Their Bets

In other Apogee Therapeutics news, insider Carl Dambkowski sold 5,500 shares of the business's stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $84.84, for a total value of $466,620.00. Following the transaction, the insider owned 208,398 shares in the company, valued at approximately $17,680,486.32. The trade was a 2.57% 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 the business's stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $82.58, for a total transaction of $1,651,600.00. Following the completion of the transaction, the chief executive officer owned 1,132,987 shares in the company, valued at $93,562,066.46. The trade was a 1.73% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 71,000 shares of company stock worth $5,271,650. Insiders own 24.30% of the company's stock.

Hedge Funds Weigh In On Apogee Therapeutics

A number of hedge funds have recently modified their holdings of the company. Commonwealth Equity Services LLC increased its position in shares of Apogee Therapeutics by 2.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 7,151 shares of the company's stock valued at $540,000 after acquiring an additional 152 shares during the period. Stifel Financial Corp increased its position in shares of Apogee Therapeutics by 3.5% in the fourth quarter. Stifel Financial Corp now owns 5,214 shares of the company's stock valued at $394,000 after acquiring an additional 175 shares during the period. ANTIPODES PARTNERS Ltd increased its position in shares of Apogee Therapeutics by 41.2% in the third quarter. ANTIPODES PARTNERS Ltd now owns 843 shares of the company's stock valued at $33,000 after acquiring an additional 246 shares during the period. Rockefeller Capital Management L.P. purchased a new position in shares of Apogee Therapeutics in the fourth quarter valued at about $25,000. Finally, Comerica Bank increased its position in shares of Apogee Therapeutics by 1.0% in the fourth quarter. Comerica Bank now owns 35,872 shares of the company's stock valued at $2,708,000 after acquiring an additional 338 shares during the period. Hedge funds and other institutional investors own 79.04% of the company's stock.

Apogee Therapeutics Stock Performance

Shares of Apogee Therapeutics stock opened at $84.54 on Thursday. Apogee Therapeutics has a 52-week low of $34.34 and a 52-week high of $95.32. The stock has a market capitalization of $5.23 billion, a price-to-earnings ratio of -20.03 and a beta of 0.69. The company has a fifty day moving average of $79.48 and a 200-day moving average of $72.82.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last announced its quarterly earnings data on Monday, March 2nd. The company reported ($1.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.05) by $0.02. On average, equities research analysts forecast that Apogee Therapeutics will post -4.57 earnings per share 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.