Stifel Nicolaus Reiterates Hold Rating for Apogee Therapeutics (NASDAQ:APGE)

Apogee Therapeutics (NASDAQ:APGE)‘s stock had its “hold” rating reiterated by analysts at Stifel Nicolaus in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $135.00 price objective on the stock, up from their prior price objective of $133.00. Stifel Nicolaus’ price objective would suggest a potential upside of 1.54% from the company’s previous close.

Other research analysts also recently issued reports about the company. Mizuho restated a “neutral” rating and set a $135.00 price objective (up from $110.00) on shares of Apogee Therapeutics in a research note on Wednesday. Guggenheim downgraded shares of Apogee Therapeutics from a “buy” rating to a “neutral” rating in a report on Tuesday. TD Cowen lowered shares of Apogee Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday. The Goldman Sachs Group set a $89.00 price objective on shares of Apogee Therapeutics in a report on Thursday, May 28th. Finally, Wedbush downgraded shares of Apogee Therapeutics from an “outperform” rating to a “neutral” rating and set a $135.00 price objective on the stock. in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $121.25.

Apogee Therapeutics Stock Performance

Shares of NASDAQ APGE traded up $0.07 during midday trading on Wednesday, reaching $132.96. 1,705,769 shares of the company’s stock were exchanged, compared to its average volume of 1,578,061. Apogee Therapeutics has a 52-week low of $34.34 and a 52-week high of $133.16. The business’s fifty day moving average price is $86.75 and its two-hundred day moving average price is $78.87. The stock has a market capitalization of $8.23 billion, a PE ratio of -30.71 and a beta of 0.62.

Apogee Therapeutics (NASDAQ:APGE) last issued its earnings results on Monday, May 11th. The company reported ($1.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.07) by $0.01. Analysts predict that Apogee Therapeutics will post -4.45 earnings per share for the current fiscal year.

Insider Activity at Apogee Therapeutics

In related news, CEO Michael Thomas Henderson sold 20,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 1,132,987 shares of the company’s stock, valued at approximately $93,562,066.46. The trade was a 1.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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 the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $78.71, for a total transaction of $432,905.00. Following the transaction, the insider owned 205,648 shares in the company, valued at approximately $16,186,554.08. This represents a 2.60% 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. Over the last three months, insiders sold 76,500 shares of company stock worth $6,323,295. 24.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Apogee Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. Rockefeller Capital Management L.P. bought a new stake in shares of Apogee Therapeutics during the 4th quarter worth about $25,000. Los Angeles Capital Management LLC bought a new position in shares of Apogee Therapeutics in the 4th quarter valued at approximately $37,000. EverSource Wealth Advisors LLC lifted its holdings in Apogee Therapeutics by 61.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 645 shares of the company’s stock worth $54,000 after purchasing an additional 246 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Apogee Therapeutics in the 3rd quarter worth approximately $96,000. Finally, Seven Fleet Capital Management LP bought a new stake in Apogee Therapeutics during the fourth quarter worth approximately $136,000. Institutional investors and hedge funds own 79.04% of the company’s stock.

More Apogee Therapeutics News

Here are the key news stories impacting Apogee Therapeutics this week:

• Positive Sentiment: AbbVie’s announced acquisition of Apogee at $135.11 per share is the biggest catalyst, signaling a large premium and a near-term cash exit for holders. Stock Market Today: Apogee Therapeutics Soars on AbbVie Cash Buyout Offer
• Positive Sentiment: The deal has drawn additional M&A attention, including investor speculation and takeover-related coverage, reinforcing the market’s view that the transaction could close at an attractive valuation. Apogee Therapeutics Inc APGE
• Neutral Sentiment: Citigroup downgraded Apogee from “buy” to “neutral,” while raising its price target to $135, which suggests the stock is now trading close to the offer value rather than indicating a new upside catalyst. Benzinga report on Citigroup downgrade
• Neutral Sentiment: Unusual options activity showed a surge in put buying, which may reflect hedging or concern that the stock is approaching the deal price and could have limited further upside. The Fly report on unusual options activity
• Negative Sentiment: Several legal and shareholder-alert headlines are probing whether the acquisition terms fairly compensate public investors, which could create headlines risk even if the deal remains intact. Shareholder alert investigation

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 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.