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

Key Points

• Apogee Therapeutics currently carries a consensus analyst rating of "Hold" from 21 firms, with the average 12-month price target around $121.25.
• The stock has traded near its 52-week high, opening at $134.15, while the company reported a slightly smaller-than-expected quarterly loss of ($1.06) EPS versus estimates of ($1.07).
• Insiders have recently been selling shares, including the CEO and an insider under a Rule 10b5-1 plan, while institutional investors continue to hold the majority of the stock with about 79.04% ownership.

Shares of Apogee Therapeutics Inc. (NASDAQ:APGE - Get Free Report) have earned an average rating of "Hold" from the twenty-one ratings firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $121.2547.

APGE has been the subject of several research reports. BTIG Research reissued a "buy" rating and issued a $137.00 price objective on shares of Apogee Therapeutics in a research report on Wednesday, May 27th. Rothschild & Co Redburn began coverage on shares of Apogee Therapeutics in a research report on Friday, May 1st. They set a "buy" rating and a $140.00 target price on the stock. TD Cowen downgraded shares of Apogee Therapeutics from a "buy" rating to a "hold" rating in a research note on Tuesday, June 23rd. Craig Hallum set a $135.11 price target on Apogee Therapeutics and gave the company a "hold" rating in a report on Monday, June 22nd. Finally, Guggenheim cut Apogee Therapeutics from a "buy" rating to a "neutral" rating in a research note on Tuesday, June 23rd.

Apogee Therapeutics Trading Up 0.1%

NASDAQ:APGE opened at $134.15 on Tuesday. The company has a market cap of $8.30 billion, a price-to-earnings ratio of -30.98 and a beta of 0.32. Apogee Therapeutics has a twelve month low of $34.34 and a twelve month high of $134.32. The stock has a fifty day simple moving average of $104.47 and a 200-day simple moving average of $86.46.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported ($1.06) EPS for the quarter, topping analysts' consensus estimates of ($1.07) by $0.01. As a group, equities research analysts predict that Apogee Therapeutics will post -4.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other Apogee Therapeutics news, insider Carl Dambkowski sold 5,500 shares of the company's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $132.74, for a total value of $730,070.00. Following the completion of the sale, the insider directly owned 177,873 shares in the company, valued at approximately $23,610,862.02. This represents a 3.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Thomas Henderson sold 20,000 shares of the stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $133.63, for a total value of $2,672,600.00. Following the transaction, the chief executive officer directly owned 995,987 shares in the company, valued at $133,093,742.81. The trade was a 1.97% 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. Over the last ninety days, insiders have sold 182,900 shares of company stock valued at $21,711,585. 24.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Apogee Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its position in Apogee Therapeutics by 40.5% during the 2nd quarter. GAMMA Investing LLC now owns 309 shares of the company's stock valued at $41,000 after purchasing an additional 89 shares during the period. Rockefeller Capital Management L.P. purchased a new stake in shares of Apogee Therapeutics in the 4th quarter worth approximately $25,000. Los Angeles Capital Management LLC bought a new position in shares of Apogee Therapeutics during the fourth quarter valued at approximately $37,000. EverSource Wealth Advisors LLC boosted its stake in shares of Apogee Therapeutics by 61.7% during the first quarter. EverSource Wealth Advisors LLC now owns 645 shares of the company's stock valued at $54,000 after purchasing an additional 246 shares in the last quarter. Finally, Seven Fleet Capital Management LP purchased a new position in Apogee Therapeutics during the fourth quarter valued at approximately $136,000. 79.04% of the stock is owned by hedge funds and other 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.

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