Apogee Therapeutics Inc. (NASDAQ:APGE) Receives Consensus Rating of “Hold” from Analysts

Shares of Apogee Therapeutics Inc. (NASDAQ:APGE) have been given an average rating of “Hold” by the twenty-one research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $121.2547.

Several research analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Apogee Therapeutics in a research report on Monday, April 20th. UBS Group lowered Apogee Therapeutics from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $100.00 to $135.11 in a research report on Tuesday, June 23rd. Citigroup lowered Apogee Therapeutics from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $125.00 to $135.00 in a research report on Tuesday, June 23rd. The Goldman Sachs Group set a $89.00 price target on Apogee Therapeutics in a research report on Thursday, May 28th. Finally, Canaccord Genuity Group lowered Apogee Therapeutics from a “buy” rating to a “hold” rating and boosted their price target for the stock from $130.00 to $135.11 in a research report on Monday, June 22nd.

Insider Activity at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 26,400 shares of the business’s stock in a transaction that occurred on 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 owned 179,248 shares of the company’s stock, valued at $23,768,284.80. The trade was a 12.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Thomas Henderson sold 80,000 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $132.54, for a total value of $10,603,200.00. Following the transaction, the chief executive officer directly owned 1,015,987 shares in the company, valued at $134,658,916.98. This trade represents a 7.30% 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 have sold a total of 177,400 shares of company stock worth $19,960,515 in the last ninety days. Insiders own 24.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. TD Asset Management Inc grew its holdings in Apogee Therapeutics by 55.3% in the 4th quarter. TD Asset Management Inc now owns 129,290 shares of the company’s stock valued at $9,759,000 after buying an additional 46,050 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Apogee Therapeutics by 57.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,137,731 shares of the company’s stock valued at $45,202,000 after buying an additional 417,161 shares in the last quarter. Rafferty Asset Management LLC grew its holdings in Apogee Therapeutics by 55.9% in the 3rd quarter. Rafferty Asset Management LLC now owns 65,796 shares of the company’s stock valued at $2,614,000 after buying an additional 23,585 shares in the last quarter. Boxer Capital Management LLC acquired a new position in Apogee Therapeutics in the 3rd quarter valued at $1,986,000. Finally, HighVista Strategies LLC grew its holdings in Apogee Therapeutics by 137.7% in the 3rd quarter. HighVista Strategies LLC now owns 107,107 shares of the company’s stock valued at $4,255,000 after buying an additional 62,055 shares in the last quarter. 79.04% of the stock is owned by institutional investors and hedge funds.

Apogee Therapeutics Stock Performance

NASDAQ APGE opened at $132.73 on Friday. The stock has a market capitalization of $8.22 billion, a price-to-earnings ratio of -30.65 and a beta of 0.62. The stock’s 50 day moving average price is $91.07 and its two-hundred day moving average price is $80.87. Apogee Therapeutics has a 52 week low of $34.34 and a 52 week high of $133.16.

Apogee Therapeutics (NASDAQ:APGE) last released its earnings results on Monday, May 11th. The company reported ($1.06) EPS for the quarter, beating the consensus estimate of ($1.07) by $0.01. On average, equities research analysts forecast that Apogee Therapeutics will post -4.45 EPS for the current year.

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.