Apogee Therapeutics Inc. (NASDAQ:APGE) Given Average Recommendation of “Hold” by Brokerages

Apogee Therapeutics Inc. (NASDAQ:APGE) has earned an average rating of “Hold” from the twenty-one research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, fifteen have given a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $121.2547.

A number of equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft downgraded Apogee Therapeutics from a “buy” rating to a “hold” rating and increased their price objective for the stock from $116.00 to $135.00 in a report on Monday, June 22nd. TD Cowen lowered shares of Apogee Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Guggenheim cut shares of Apogee Therapeutics from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 23rd. The Goldman Sachs Group set a $89.00 price target on Apogee Therapeutics in a research note on Thursday, May 28th. Finally, Mizuho restated 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.

Apogee Therapeutics Stock Up 0.1%

Shares of Apogee Therapeutics stock opened at $132.91 on Friday. Apogee Therapeutics has a 52 week low of $34.34 and a 52 week high of $133.85. The company has a market cap of $8.23 billion, a PE ratio of -30.70 and a beta of 0.32. The business has a 50 day moving average of $92.75 and a 200 day moving average of $81.66.

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

Insider Buying and Selling

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 80,000 shares of the stock in a transaction 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 completion of the sale, the chief executive officer owned 1,015,987 shares in the company, valued at approximately $134,658,916.98. This represents a 7.30% decrease in their position. The sale was disclosed in a filing 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 26,400 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $132.60, for a total value of $3,500,640.00. Following the sale, the insider owned 179,248 shares of the company’s stock, valued at $23,768,284.80. This represents a 12.84% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 182,900 shares of company stock valued at $20,690,585. 24.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Apogee Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in shares of Apogee Therapeutics by 0.5% in the 4th quarter. Wellington Management Group LLP now owns 4,746,585 shares of the company’s stock worth $358,272,000 after buying an additional 22,884 shares in the last quarter. Vanguard Group Inc. lifted its stake in Apogee Therapeutics by 27.3% in the fourth quarter. Vanguard Group Inc. now owns 2,857,824 shares of the company’s stock worth $215,709,000 after acquiring an additional 612,193 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in Apogee Therapeutics by 189,522.2% during 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 acquiring an additional 2,731,015 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Apogee Therapeutics by 14.4% in the 1st quarter. Janus Henderson Group PLC now owns 2,360,596 shares of the company’s stock valued at $198,809,000 after buying an additional 297,992 shares in the last quarter. Finally, Perceptive Advisors LLC grew its stake in Apogee Therapeutics by 72.4% during the 4th quarter. Perceptive Advisors LLC now owns 2,330,651 shares of the company’s stock worth $175,918,000 after buying an additional 978,662 shares during the last quarter. Hedge funds and other institutional investors own 79.04% of the company’s stock.

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.