Apogee Therapeutics Inc. (NASDAQ:APGE) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Analysts collectively rate Apogee Therapeutics “Hold.” Of 20 analysts, 15 issued hold ratings, while the average 12-month price target is $124.43.
• Apogee shares opened at $134.55, near their 52-week high of $134.88, but the company reported a quarterly loss of $1.14 per share, missing estimates by $0.07.
• Insiders sold shares recently: Executives sold 162,900 shares worth about $20.3 million during the last quarter, while institutional investors own 79.04% of the stock.

Apogee Therapeutics Inc. (NASDAQ:APGE - Get Free Report) has received a consensus rating of "Hold" from the twenty ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $124.4312.

Several analysts recently commented on the stock. Truist Financial increased their target price on shares of Apogee Therapeutics from $81.00 to $135.00 and gave the company a "hold" rating in a research note on Thursday. Weiss Ratings restated a "sell (d-)" rating on shares of Apogee Therapeutics in a research report on Friday, July 17th. Canaccord Genuity Group lowered shares of Apogee Therapeutics from a "buy" rating to a "hold" rating and lifted their target price for the company from $130.00 to $135.11 in a research note on Monday, June 22nd. Stifel Nicolaus reiterated a "hold" rating and set a $135.00 price target (up from $133.00) on shares of Apogee Therapeutics in a report on Wednesday, June 24th. Finally, Mizuho reissued a "neutral" rating and issued a $135.00 price target (up from $110.00) on shares of Apogee Therapeutics in a research note on Wednesday, June 24th.

Insider Buying and Selling

In other news, insider Carl Dambkowski sold 5,500 shares of the firm's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $134.17, for a total transaction of $737,935.00. Following the transaction, the insider owned 168,498 shares in the company, valued at approximately $22,607,376.66. This trade represents a 3.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $133.63, for a total transaction of $2,672,600.00. Following the completion of the sale, the chief executive officer directly owned 995,987 shares of the company's stock, valued at approximately $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. Insiders sold 162,900 shares of company stock valued at $20,344,950 over the last quarter. Corporate insiders own 24.30% of the company's stock.

Hedge Funds Weigh In On Apogee Therapeutics

Several institutional investors have recently bought and sold shares of APGE. Rockefeller Capital Management L.P. bought a new position in shares of Apogee Therapeutics in the 4th quarter valued at approximately $25,000. Los Angeles Capital Management LLC bought a new stake in Apogee Therapeutics during the fourth quarter worth approximately $37,000. GAMMA Investing LLC boosted its position 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 purchasing an additional 89 shares during the period. EverSource Wealth Advisors LLC grew its holdings in 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 during the last quarter. Finally, Longfellow Investment Management Co. LLC acquired a new position in Apogee Therapeutics during the second quarter valued at approximately $81,000. 79.04% of the stock is currently owned by institutional investors.

Apogee Therapeutics Stock Performance

Shares of APGE stock opened at $134.55 on Friday. The firm has a market capitalization of $8.37 billion, a PE ratio of -31.00 and a beta of 0.34. Apogee Therapeutics has a 1 year low of $35.39 and a 1 year high of $134.88. The stock has a fifty day moving average of $124.42 and a two-hundred day moving average of $93.83.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported ($1.14) earnings per share for the quarter, missing the consensus estimate of ($1.07) by ($0.07). Equities research analysts predict that Apogee Therapeutics will post -4.46 earnings per share for the current fiscal year.

About Apogee Therapeutics

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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