Apogee Therapeutics’ (APGE) “Hold” Rating Reaffirmed at Canaccord Genuity Group

Apogee Therapeutics (NASDAQ:APGE)‘s stock had its “hold” rating reaffirmed by Canaccord Genuity Group in a report released on Monday,Benzinga reports. They presently have a $135.11 price objective on the stock, up from their previous price objective of $130.00. Canaccord Genuity Group’s price objective would suggest a potential upside of 1.87% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the company. Guggenheim boosted their price target on Apogee Therapeutics from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th. Mizuho raised their price objective on Apogee Therapeutics from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, March 30th. BTIG Research reaffirmed a “buy” rating and issued a $137.00 price objective on shares of Apogee Therapeutics in a report on Wednesday, May 27th. Truist Financial cut their target price on Apogee Therapeutics from $83.00 to $81.00 and set a “hold” rating for the company in a research report on Wednesday, May 27th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Apogee Therapeutics in a report on Monday, April 20th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $114.88.

Apogee Therapeutics Stock Performance

NASDAQ:APGE traded up $42.25 during mid-day trading on Monday, reaching $132.63. 29,140,013 shares of the company’s stock were exchanged, compared to its average volume of 1,173,432. Apogee Therapeutics has a one year low of $34.34 and a one year high of $133.00. The firm has a market capitalization of $8.21 billion, a PE ratio of -30.63 and a beta of 0.62. The business’s fifty day simple moving average is $84.90 and its two-hundred day simple moving average is $78.01.

Apogee Therapeutics (NASDAQ:APGE) last posted its quarterly earnings data on Monday, May 11th. The company reported ($1.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.07) by $0.01. As a group, equities research analysts forecast that Apogee Therapeutics will post -4.45 EPS for the current year.

Insider Buying and Selling

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 20,000 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $83.38, for a total transaction of $1,667,600.00. Following the sale, the chief executive officer owned 1,095,987 shares of the company’s stock, valued at approximately $91,383,396.06. The trade was a 1.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed 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 company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $78.71, for a total transaction of $432,905.00. Following the transaction, the insider owned 205,648 shares of the company’s stock, valued at $16,186,554.08. This trade represents a 2.60% decrease in their ownership of the stock. 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 76,500 shares of company stock worth $6,323,295 in the last 90 days. Company insiders own 24.30% of the company’s stock.

Institutional Trading of Apogee Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in APGE. Rockefeller Capital Management L.P. acquired a new stake in Apogee Therapeutics during the 4th quarter worth approximately $25,000. Los Angeles Capital Management LLC acquired a new position in Apogee Therapeutics in the 4th quarter valued at approximately $37,000. EverSource Wealth Advisors LLC raised 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 acquiring an additional 246 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Apogee Therapeutics during the third quarter valued at $96,000. Finally, Seven Fleet Capital Management LP acquired a new position in shares of Apogee Therapeutics during the fourth quarter worth $136,000. 79.04% of the stock is currently owned by institutional investors.

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.