Apogee Therapeutics Inc. (NASDAQ:APGE) Given Average Recommendation of "Hold" by Analysts

Key Points

• Analysts rate Apogee Therapeutics “Hold” on average: Among 19 firms, 15 issued hold ratings, while two rated it a buy, one a strong buy, and one a sell. The average 12-month price target is $126.77.
• APGE shares have surged: The stock opened at $135.07, near its 52-week high of $135.09, with an $8.40 billion market capitalization. Its 200-day moving average is $102.11.
• Recent results missed expectations and insiders have sold shares: Apogee reported a quarterly loss of $1.14 per share versus the $1.07 consensus estimate, while insiders sold 137,400 shares worth approximately $18.2 million over the last quarter, largely through pre-arranged trading plans.

Apogee Therapeutics Inc. (NASDAQ:APGE - Get Free Report) has been assigned a consensus recommendation of "Hold" from the nineteen research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, fifteen have given a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $126.7706.

A number of analysts recently commented on APGE shares. Truist Financial boosted their price objective on shares of Apogee Therapeutics from $81.00 to $135.00 and gave the stock a "hold" rating in a report on Thursday, August 13th. Guggenheim cut shares of Apogee Therapeutics from a "buy" rating to a "neutral" rating in a report on Tuesday, June 23rd. Stifel Nicolaus reiterated a "hold" rating and set a $135.00 price target (up from $133.00) on shares of Apogee Therapeutics in a research report on Wednesday, June 24th. Citigroup lowered Apogee Therapeutics from a "buy" rating to a "neutral" rating and boosted their price target for the stock from $125.00 to $135.00 in a research note on Tuesday, June 23rd. Finally, UBS Group cut Apogee Therapeutics from a "buy" rating to a "neutral" rating and upped their price target for the stock from $100.00 to $135.11 in a report on Tuesday, June 23rd.

Insiders Place Their Bets

In other Apogee Therapeutics news, CEO Michael Henderson sold 20,000 shares of the company's 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 sale, the chief executive officer owned 995,987 shares of the company's stock, valued at approximately $133,093,742.81. This represents a 1.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 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 value of $737,935.00. Following the completion of the transaction, the insider owned 168,498 shares of the company's stock, valued at approximately $22,607,376.66. This represents a 3.16% 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 137,400 shares of company stock worth $18,244,445. 24.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Apogee Therapeutics

A number of large investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. acquired a new position in Apogee Therapeutics during the fourth quarter worth about $25,000. Los Angeles Capital Management LLC acquired a new position in shares of Apogee Therapeutics during the 4th quarter worth approximately $37,000. GAMMA Investing LLC lifted its stake in Apogee Therapeutics by 40.5% in the 2nd quarter. GAMMA Investing LLC now owns 309 shares of the company's stock valued at $41,000 after buying an additional 89 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Apogee Therapeutics by 61.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 645 shares of the company's stock valued at $54,000 after buying an additional 246 shares during the last quarter. Finally, Longfellow Investment Management Co. LLC acquired a new stake in Apogee Therapeutics during the 2nd quarter valued at $81,000. 79.04% of the stock is owned by institutional investors and hedge funds.

Apogee Therapeutics Stock Performance

NASDAQ:APGE opened at $135.07 on Wednesday. Apogee Therapeutics has a 1 year low of $35.39 and a 1 year high of $135.09. The stock has a fifty day moving average price of $134.33 and a two-hundred day moving average price of $102.11. The stock has a market capitalization of $8.40 billion, a price-to-earnings ratio of -31.12 and a beta of 0.33.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last issued its earnings results on Monday, August 10th. The company reported ($1.14) EPS for the quarter, missing the consensus estimate of ($1.07) by ($0.07). On average, analysts predict that Apogee Therapeutics will post -4.47 EPS for the current 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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