Apogee Therapeutics' (APGE) "Sell (D-)" Rating Reiterated at Weiss Ratings

Key Points

• Apogee Therapeutics' stock has been reaffirmed with a "sell (D-)" rating by Weiss Ratings, indicating potential concerns about the company's performance.
• Despite the negative outlook from Weiss Ratings, multiple firms, including Citigroup and BTIG Research, maintain a "buy" rating on the stock, with target prices ranging from $60.00 to $116.00.
• Apogee Therapeutics reported a wider-than-expected loss of ($1.13) EPS in its latest quarterly earnings, which missed analysts' consensus estimate of ($1.03) EPS.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report)'s stock had its "sell (d-)" rating restated by investment analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Other research analysts also recently issued research reports about the stock. Citigroup reaffirmed a "buy" rating on shares of Apogee Therapeutics in a research report on Thursday, August 28th. BTIG Research raised their target price on shares of Apogee Therapeutics from $100.00 to $115.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Royal Bank Of Canada initiated coverage on shares of Apogee Therapeutics in a research report on Thursday, September 25th. They issued an "outperform" rating and a $60.00 target price for the company. Guggenheim reaffirmed a "buy" rating and issued a $116.00 target price on shares of Apogee Therapeutics in a research report on Wednesday, July 2nd. Finally, Zacks Research downgraded shares of Apogee Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 14th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $92.63.

Apogee Therapeutics Price Performance

APGE traded up $7.51 during mid-day trading on Wednesday, hitting $47.24. The stock had a trading volume of 1,156,442 shares, compared to its average volume of 703,934. The stock's fifty day simple moving average is $37.63 and its 200-day simple moving average is $38.17. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of -11.44 and a beta of 1.43. Apogee Therapeutics has a 1-year low of $26.20 and a 1-year high of $63.50.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The company reported ($1.13) EPS for the quarter, missing analysts' consensus estimates of ($1.03) by ($0.10). As a group, research analysts expect that Apogee Therapeutics will post -3.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Apogee Therapeutics news, insider Carl Dambkowski sold 5,110 shares of Apogee Therapeutics stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $39.80, for a total value of $203,378.00. Following the completion of the sale, the insider owned 284,733 shares in the company, valued at $11,332,373.40. The trade was a 1.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have sold 10,560 shares of company stock valued at $409,524. 42.77% of the stock is owned by insiders.

Institutional Trading of Apogee Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC raised its position in shares of Apogee Therapeutics by 99.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 769 shares of the company's stock valued at $33,000 after buying an additional 383 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of Apogee Therapeutics in the 1st quarter valued at approximately $42,000. AlphaQuest LLC acquired a new position in shares of Apogee Therapeutics in the 1st quarter valued at approximately $43,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Apogee Therapeutics by 18.0% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,779 shares of the company's stock valued at $77,000 after buying an additional 272 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of Apogee Therapeutics by 34.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,649 shares of the company's stock valued at $158,000 after buying an additional 941 shares in the last quarter. Institutional investors and hedge funds own 79.04% of the company's stock.

Apogee Therapeutics Company Profile

Apogee Therapeutics, Inc, through its subsidiary, operates as a biotechnology company that develops biologics for the treatment of atopic dermatitis (AD), asthma, chronic obstructive pulmonary disease (COPD), and related inflammatory and immunology indications. The company primarily develops APG777, a subcutaneous (SQ) extended half-life monoclonal antibody (mAb) for AD; and APG808, an SQ extended half-life mAb for COPD.

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