Apogee Therapeutics (NASDAQ:APGE) Receives “Hold” Rating from Canaccord Genuity Group

Apogee Therapeutics (NASDAQ:APGE)‘s stock had its “hold” rating restated by equities research analysts at Canaccord Genuity Group in a report released on Monday,Benzinga reports. They presently have a $135.11 price target on the stock, up from their prior price target of $130.00. Canaccord Genuity Group’s price objective would suggest a potential upside of 1.87% from the company’s previous close.

APGE has been the topic of a number of other research reports. Mizuho lifted their target price on Apogee Therapeutics from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, March 30th. Guggenheim upped their price target on Apogee Therapeutics from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Truist Financial decreased their price target on shares of Apogee Therapeutics from $83.00 to $81.00 and set a “hold” rating for the company in a research note on Wednesday, May 27th. Rothschild & Co Redburn started coverage on shares of Apogee Therapeutics in a report on Friday, May 1st. They issued a “buy” rating and a $140.00 price objective on the stock. Finally, Royal Bank Of Canada boosted their price objective on shares of Apogee Therapeutics from $82.00 to $97.00 and gave the stock a “sector perform” rating in a research report on Monday, June 8th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $114.88.

Apogee Therapeutics Price Performance

APGE traded up $42.25 during trading on Monday, reaching $132.63. The company had a trading volume of 29,140,013 shares, compared to its average volume of 1,173,432. Apogee Therapeutics has a 12 month low of $34.34 and a 12 month high of $133.00. The business’s fifty day moving average price is $84.90 and its 200 day moving average price is $78.01. The company has a market cap of $8.21 billion, a P/E ratio of -30.63 and a beta of 0.62.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly earnings data on Monday, May 11th. The company reported ($1.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.07) by $0.01. As a group, sell-side analysts predict that Apogee Therapeutics will post -4.45 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $83.38, for a total transaction of $1,667,600.00. Following the completion of the transaction, the chief executive officer directly owned 1,095,987 shares in the company, valued at approximately $91,383,396.06. The trade was a 1.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 that occurred on Wednesday, June 3rd. The stock was sold at an average price of $78.71, for a total value of $432,905.00. Following the transaction, the insider directly owned 205,648 shares in the company, valued at $16,186,554.08. The trade was a 2.60% 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. Over the last ninety days, insiders sold 76,500 shares of company stock valued at $6,323,295. Insiders own 24.30% of the company’s stock.

Hedge Funds Weigh In On Apogee Therapeutics

Several large investors have recently modified their holdings of APGE. T. Rowe Price Investment Management Inc. grew its stake in Apogee Therapeutics by 189,522.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,732,456 shares of the company’s stock valued at $206,246,000 after buying an additional 2,731,015 shares during the last quarter. Janus Henderson Group PLC lifted its position in Apogee Therapeutics by 324.4% during the fourth quarter. Janus Henderson Group PLC now owns 2,062,604 shares of the company’s stock worth $155,697,000 after acquiring an additional 1,576,626 shares during the last quarter. Perceptive Advisors LLC boosted its holdings in shares of Apogee Therapeutics by 72.4% during the fourth quarter. Perceptive Advisors LLC now owns 2,330,651 shares of the company’s stock worth $175,918,000 after acquiring an additional 978,662 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Apogee Therapeutics by 24.1% during the third quarter. Wellington Management Group LLP now owns 4,723,701 shares of the company’s stock worth $187,673,000 after acquiring an additional 917,991 shares during the period. Finally, UBS Group AG grew its position in shares of Apogee Therapeutics by 646.1% in the third quarter. UBS Group AG now owns 799,465 shares of the company’s stock valued at $31,763,000 after purchasing an additional 692,308 shares during the last quarter. 79.04% of the stock is owned by institutional investors.

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.