Apogee Therapeutics Inc. (NASDAQ:APGE) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Apogee Therapeutics Inc. (NASDAQ:APGEGet Free Report) have received a consensus rating of “Hold” from the nineteen analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, fifteen have issued a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $126.7706.

APGE has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft cut shares of Apogee Therapeutics from a “buy” rating to a “hold” rating and increased their price objective for the company from $116.00 to $135.00 in a research note on Monday, June 22nd. Mizuho restated a “neutral” rating and set a $135.00 target price (up from $110.00) on shares of Apogee Therapeutics in a research report on Wednesday, June 24th. The Goldman Sachs Group set a $89.00 price target on shares of Apogee Therapeutics in a report on Thursday, May 28th. Royal Bank Of Canada increased their price target on shares of Apogee Therapeutics from $82.00 to $97.00 and gave the company a “sector perform” rating in a research report on Monday, June 8th. Finally, Truist Financial raised their price objective on shares of Apogee Therapeutics from $81.00 to $135.00 and gave the stock a “hold” rating in a research note on Thursday, August 13th.

View Our Latest Report on Apogee Therapeutics

Apogee Therapeutics Stock Performance

APGE stock opened at $135.07 on Wednesday. The company’s 50-day moving average price is $134.46 and its 200 day moving average price is $103.51. Apogee Therapeutics has a 52 week low of $35.39 and a 52 week high of $135.09. The company has a market cap of $8.40 billion, a P/E ratio of -31.12 and a beta of 0.33.

Apogee Therapeutics (NASDAQ:APGEGet Free Report) last posted its earnings results on Monday, August 10th. The company reported ($1.14) EPS for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.07). On average, equities research analysts expect that Apogee Therapeutics will post -4.47 earnings per share for the current year.

Insiders Place Their Bets

In other Apogee Therapeutics news, CEO Michael 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 transaction of $2,672,600.00. Following the sale, the chief executive officer owned 995,987 shares in the company, valued at approximately $133,093,742.81. This represents a 1.97% decrease in their position. The sale was disclosed in a filing 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, insider Carl Dambkowski sold 5,500 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $134.17, for a total value of $737,935.00. Following the transaction, the insider directly owned 168,498 shares of the company’s stock, valued at $22,607,376.66. The trade was a 3.16% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 137,400 shares of company stock worth $18,244,445. 24.30% of the stock is owned by insiders.

Institutional Trading of Apogee Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APGE. GAMMA Investing LLC lifted its holdings 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 purchasing an additional 89 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new stake in shares of Apogee Therapeutics during the 4th quarter worth about $25,000. Los Angeles Capital Management LLC purchased a new stake in shares of Apogee Therapeutics during the fourth quarter worth about $37,000. Longfellow Investment Management Co. LLC purchased a new stake in shares of Apogee Therapeutics during the second quarter worth about $81,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Apogee Therapeutics by 61.7% in the first 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. Hedge funds and other institutional investors own 79.04% of the company’s stock.

Apogee Therapeutics Company Profile

(Get Free Report)

Apogee Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing next-generation biologic medicines for inflammatory and immunologic diseases. The company’s approach centers on designing therapies with extended half-lives and other potentially differentiated properties intended to improve treatment durability and patient convenience.

Apogee’s pipeline includes APG777, an extended-half-life monoclonal antibody that targets interleukin-13 (IL-13), a cytokine involved in allergic inflammation.

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Analyst Recommendations for Apogee Therapeutics (NASDAQ:APGE)

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