Apogee Therapeutics (NASDAQ:APGE) Issues Earnings Results

Apogee Therapeutics (NASDAQ:APGE) posted its quarterly earnings results on Monday. The company reported ($1.03) EPS for the quarter, beating the consensus estimate of ($1.05) by $0.02, FiscalAI reports.

Apogee Therapeutics Stock Performance

Apogee Therapeutics stock opened at $70.00 on Monday. The firm has a market capitalization of $4.78 billion, a PE ratio of -15.98 and a beta of 1.39. Apogee Therapeutics has a one year low of $26.20 and a one year high of $84.56. The stock’s 50 day moving average price is $73.04 and its 200 day moving average price is $59.80.

Insider Activity

In related news, CEO Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $63.35, for a total transaction of $1,267,000.00. Following the sale, the chief executive officer owned 1,172,987 shares of the company’s stock, valued at $74,308,726.45. The trade was a 1.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Fairmount Funds Management Llc sold 1,750,000 shares of the company’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $76.30, for a total transaction of $133,525,000.00. Following the completion of the transaction, the director directly owned 298,647 shares of the company’s stock, valued at approximately $22,786,766.10. The trade was a 85.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,885,100 shares of company stock worth $143,557,153 over the last 90 days. Company insiders own 42.77% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in APGE. Los Angeles Capital Management LLC acquired a new position in Apogee Therapeutics during the 4th quarter valued at approximately $37,000. Ensign Peak Advisors Inc bought a new stake in Apogee Therapeutics in the fourth quarter valued at $170,000. Quantbot Technologies LP acquired a new position in shares of Apogee Therapeutics during the third quarter valued at $96,000. Quarry LP bought a new position in shares of Apogee Therapeutics during the fourth quarter worth about $189,000. Finally, Vident Advisory LLC acquired a new stake in shares of Apogee Therapeutics in the 4th quarter worth about $218,000. 79.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on APGE shares. UBS Group raised shares of Apogee Therapeutics to a “strong-buy” rating in a research report on Wednesday, January 7th. BTIG Research set a $137.00 price target on shares of Apogee Therapeutics in a report on Tuesday, January 6th. Wall Street Zen downgraded Apogee Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. Deutsche Bank Aktiengesellschaft assumed coverage on Apogee Therapeutics in a research report on Tuesday, December 9th. They issued a “buy” rating and a $103.00 target price on the stock. Finally, Citigroup reissued a “buy” rating on shares of Apogee Therapeutics in a research report on Sunday, January 25th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $104.58.

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 ROR?t, a master regulator of T cell-driven inflammatory pathways. By modulating ROR?t 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 ROR?t inverse agonist currently undergoing early-stage clinical evaluation for moderate to severe plaque psoriasis.