Apogee Therapeutics (NASDAQ:APGE) Receives "Sell (D-)" Rating from Weiss Ratings

Key Points

• Weiss Ratings has reaffirmed a "Sell (D-)" rating for Apogee Therapeutics, indicating a negative outlook for the company's stock.
• Other analysts have varied opinions on the stock, with BTIG maintaining a "Buy" rating and setting a price target of $115.00, while Zacks downgraded it to "Hold."
• Apogee Therapeutics reported a loss of ($1.13) earnings per share, missing the consensus estimate, as the stock trades at $53.32, down from a 52-week high of $63.50.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by Weiss Ratings in a research report issued on Friday,Weiss Ratings reports.

Several other equities research analysts also recently commented on the stock. BTIG Research reiterated a "buy" rating and set a $115.00 price objective on shares of Apogee Therapeutics in a research note on Thursday, October 9th. Zacks Research downgraded shares of Apogee Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 14th. Bank of America lifted their price objective on shares of Apogee Therapeutics from $78.00 to $87.00 and gave the stock a "buy" rating in a research note on Thursday, August 28th. Guggenheim reissued a "buy" rating and set a $116.00 target price on shares of Apogee Therapeutics in a report on Wednesday, July 2nd. Finally, Mizuho began coverage on shares of Apogee Therapeutics in a report on Tuesday. They set an "outperform" rating and a $105.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $94.00.

Apogee Therapeutics Price Performance

NASDAQ APGE traded down $0.50 during midday trading on Friday, hitting $53.32. 603,855 shares of the company traded hands, compared to its average volume of 729,302. The company has a market cap of $2.46 billion, a PE ratio of -12.91 and a beta of 1.43. The company's 50-day simple moving average is $41.62 and its 200-day simple moving average is $39.52. Apogee Therapeutics has a 52 week low of $26.20 and a 52 week high of $63.50.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last announced its earnings results on Monday, August 11th. The company reported ($1.13) earnings per share for the quarter, missing the consensus estimate of ($1.03) by ($0.10). On average, research analysts predict that Apogee Therapeutics will post -3.09 earnings per share for the current year.

Insiders Place Their Bets

In other Apogee Therapeutics news, insider Carl Dambkowski sold 5,110 shares of Apogee Therapeutics stock in a transaction on 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 transaction, the insider owned 284,733 shares of the company's stock, valued at approximately $11,332,373.40. The trade was a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 10,560 shares of company stock valued at $409,524 over the last three months. 42.77% of the stock is currently owned by insiders.

Institutional Trading of Apogee Therapeutics

Several institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Apogee Therapeutics by 18.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,779 shares of the company's stock valued at $77,000 after purchasing an additional 272 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Apogee Therapeutics by 99.2% in the second quarter. Nisa Investment Advisors LLC now owns 769 shares of the company's stock valued at $33,000 after purchasing an additional 383 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Apogee Therapeutics by 2.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,529 shares of the company's stock valued at $921,000 after purchasing an additional 694 shares during the period. BNP Paribas Financial Markets grew its position in shares of Apogee Therapeutics by 34.7% in the second quarter. BNP Paribas Financial Markets now owns 3,649 shares of the company's stock valued at $158,000 after purchasing an additional 941 shares during the period. Finally, Handelsbanken Fonder AB grew its position in shares of Apogee Therapeutics by 13.3% in the second quarter. Handelsbanken Fonder AB now owns 8,500 shares of the company's stock valued at $369,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds own 79.04% of the company's stock.

About Apogee Therapeutics

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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