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

Key Points

• Analyst consensus — "Moderate Buy": Seventeen brokerages cover Apogee Therapeutics with a consensus "Moderate Buy" (10 buy, 2 strong buy, 4 hold, 1 sell) and an average 12‑month price target of $110.79.
• Significant insider selling: CEO Michael Henderson sold 20,000 shares at $82.58 and another insider sold 5,500 at $84.84, with insiders offloading 1,846,500 shares worth $140.78M over the past 90 days while holding about 42.77% of the stock.
• Company focus: Apogee is a clinical‑stage biotech developing oral RORγt inverse agonists, with lead candidate APG‑157 in early‑stage trials for moderate to severe plaque psoriasis.

Shares of Apogee Therapeutics Inc. (NASDAQ:APGE - Get Free Report) have been given a consensus rating of "Moderate Buy" by the seventeen brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, ten have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $110.7857.

A number of equities analysts have issued reports on the stock. BTIG Research restated a "buy" rating and set a $137.00 target price on shares of Apogee Therapeutics in a research report on Monday, March 23rd. Stifel Nicolaus set a $133.00 price target on shares of Apogee Therapeutics in a report on Tuesday, January 6th. Truist Financial initiated coverage on shares of Apogee Therapeutics in a report on Tuesday, March 17th. They set a "hold" rating and a $83.00 price target for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Apogee Therapeutics in a report on Wednesday, January 21st. Finally, Canaccord Genuity Group lifted their price target on shares of Apogee Therapeutics from $89.00 to $130.00 and gave the stock a "buy" rating in a report on Tuesday, March 24th.

Insider Transactions at Apogee Therapeutics

In other news, CEO Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics 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 sale, the chief executive officer directly owned 1,132,987 shares in the company, valued at $93,562,066.46. The trade was a 1.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $84.84, for a total transaction of $466,620.00. Following the sale, the insider owned 208,398 shares of the company's stock, valued at approximately $17,680,486.32. This trade represents a 2.57% 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 1,846,500 shares of company stock worth $140,780,695 over the last ninety days. 42.77% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Apogee Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Rockefeller Capital Management L.P. purchased a new stake in shares of Apogee Therapeutics during the fourth quarter worth about $25,000. Los Angeles Capital Management LLC purchased a new stake in Apogee Therapeutics in the fourth quarter valued at approximately $37,000. ANTIPODES PARTNERS Ltd grew its holdings in 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 purchasing an additional 246 shares during the period. Seven Fleet Capital Management LP purchased a new stake in Apogee Therapeutics in the fourth quarter valued at approximately $136,000. Finally, Ensign Peak Advisors Inc purchased a new stake in Apogee Therapeutics in the fourth quarter valued at approximately $170,000. 79.04% of the stock is currently owned by hedge funds and other institutional investors.

Apogee Therapeutics Trading Down 0.3%

Shares of APGE opened at $86.27 on Friday. The stock has a market cap of $5.99 billion, a P/E ratio of -20.44 and a beta of 1.02. The company has a 50-day moving average of $72.90 and a two-hundred day moving average of $67.86. Apogee Therapeutics has a 12-month low of $28.60 and a 12-month high of $88.35.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last announced its earnings results on Monday, March 2nd. The company reported ($1.03) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.05) by $0.02. As a group, analysts forecast that Apogee Therapeutics will post -3.09 EPS 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.

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