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

Apogee Therapeutics Inc. (NASDAQ:APGE) has been assigned a consensus recommendation of “Hold” from the nineteen ratings firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, fifteen have assigned a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $126.7706.

APGE has been the subject of a number of research reports. Mizuho reiterated a “neutral” rating and set a $135.00 target price (up from $110.00) on shares of Apogee Therapeutics in a research report on Wednesday, June 24th. Citigroup cut shares of 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. Canaccord Genuity Group downgraded shares of Apogee Therapeutics from a “buy” rating to a “hold” rating and upped their price target for the company from $130.00 to $135.11 in a research note on Monday, June 22nd. Guggenheim lowered shares of Apogee Therapeutics from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 23rd. Finally, Truist Financial lifted their price objective on shares of Apogee Therapeutics from $81.00 to $135.00 and gave the stock a “hold” rating in a research note on Thursday, August 13th.

Insider Transactions at Apogee Therapeutics

In related news, insider Carl Dambkowski sold 26,400 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $132.60, for a total value of $3,500,640.00. Following the completion of the transaction, the insider owned 179,248 shares of the company’s stock, valued at approximately $23,768,284.80. This trade represents a 12.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Henderson sold 80,000 shares of Apogee Therapeutics stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 1,015,987 shares of the company’s stock, valued at approximately $134,658,916.98. This represents a 7.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 137,400 shares of company stock valued at $18,244,445. 24.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Apogee Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Rockefeller Capital Management L.P. purchased a new stake in Apogee Therapeutics during the 4th quarter valued at $25,000. GAMMA Investing LLC boosted its stake in Apogee Therapeutics by 40.5% during the second quarter. GAMMA Investing LLC now owns 309 shares of the company’s stock worth $41,000 after buying an additional 89 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Apogee Therapeutics by 61.7% during the first quarter. EverSource Wealth Advisors LLC now owns 645 shares of the company’s stock worth $54,000 after buying an additional 246 shares during the period. Longfellow Investment Management Co. LLC purchased a new position in Apogee Therapeutics during the second quarter worth $81,000. Finally, Seven Fleet Capital Management LP bought a new position in Apogee Therapeutics during the fourth quarter valued at $136,000. Hedge funds and other institutional investors own 79.04% of the company’s stock.

Apogee Therapeutics Stock Performance

Shares of APGE stock opened at $135.07 on Wednesday. Apogee Therapeutics has a 12-month low of $35.39 and a 12-month high of $135.09. The stock’s 50-day moving average price is $134.52 and its 200-day moving average price is $104.41. The stock has a market capitalization of $8.40 billion, a price-to-earnings ratio of -31.12 and a beta of 0.33.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly earnings results on Monday, August 10th. The company reported ($1.14) EPS for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.07). As a group, research analysts predict that Apogee Therapeutics will post -4.47 EPS for the current fiscal year.

About Apogee Therapeutics

Apogee Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing next-generation biologic medicines for inflammatory and immunologic diseases. The company’s approach centers on designing therapies with extended half-lives and other potentially differentiated properties intended to improve treatment durability and patient convenience.

Apogee’s pipeline includes APG777, an extended-half-life monoclonal antibody that targets interleukin-13 (IL-13), a cytokine involved in allergic inflammation.