Apogee Therapeutics (NASDAQ:APGE) Stock Rating Lowered by Citigroup

by · The Markets Daily

Apogee Therapeutics (NASDAQ:APGE – Get Free Report) was downgraded by investment analysts at Citigroup from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Apogee Therapeutics from a “buy” rating to a “hold” rating and set a $135.00 price objective for the company. in a research report on Monday. Canaccord Genuity Group reiterated a “hold” rating and set a $135.11 target price (up from $130.00) on shares of Apogee Therapeutics in a report on Monday. Rothschild & Co Redburn began coverage on Apogee Therapeutics in a report on Friday, May 1st. They issued a “buy” rating and a $140.00 price target on the stock. Guggenheim upped their price objective on Apogee Therapeutics from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Finally, Craig Hallum set a $135.11 target price on Apogee Therapeutics and gave the company a “hold” rating in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $118.08.

Get Our Latest Research Report on APGE

Apogee Therapeutics Stock Up 46.7%

APGE stock opened at $132.55 on Monday. Apogee Therapeutics has a twelve month low of $34.34 and a twelve month high of $133.00. The company has a market cap of $8.20 billion, a P/E ratio of -30.61 and a beta of 0.62. The business’s fifty day moving average is $85.82 and its 200-day moving average is $78.46.

Apogee Therapeutics (NASDAQ:APGE – Get Free Report) last issued its earnings results on Monday, May 11th. The company reported ($1.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.07) by $0.01. Research analysts anticipate that Apogee Therapeutics will post -4.45 earnings per share for the current fiscal year.

Insider Transactions at Apogee Therapeutics

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $83.38, for a total transaction of $1,667,600.00. Following the transaction, the chief executive officer owned 1,095,987 shares of the company’s stock, valued at $91,383,396.06. The trade was a 1.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 that occurred on Wednesday, June 3rd. The shares were sold at an average price of $78.71, for a total value of $432,905.00. Following the completion of the sale, the insider owned 205,648 shares in the company, valued at $16,186,554.08. This represents a 2.60% 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. Over the last ninety days, insiders sold 76,500 shares of company stock worth $6,323,295. 24.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Seven Fleet Capital Management LP increased its holdings in shares of Apogee Therapeutics by 9.4% during the 1st quarter. Seven Fleet Capital Management LP now owns 1,969 shares of the company’s stock worth $166,000 after acquiring an additional 169 shares during the last quarter. Glenmede Trust Co. NA lifted its holdings in Apogee Therapeutics by 26.9% during the 1st quarter. Glenmede Trust Co. NA now owns 10,799 shares of the company’s stock valued at $909,000 after purchasing an additional 2,287 shares during the last quarter. Bank of America Corp DE boosted its position in Apogee Therapeutics by 13.5% during the first quarter. Bank of America Corp DE now owns 900,871 shares of the company’s stock worth $75,826,000 after purchasing an additional 107,176 shares during the period. Janus Henderson Group PLC boosted its position in Apogee Therapeutics by 14.4% during the first quarter. Janus Henderson Group PLC now owns 2,360,596 shares of the company’s stock worth $198,809,000 after purchasing an additional 297,992 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings 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 purchasing an additional 246 shares during the last quarter. 79.04% of the stock is currently owned by institutional investors.

Key Headlines Impacting Apogee Therapeutics

Here are the key news stories impacting Apogee Therapeutics this week:

Apogee Therapeutics Company Profile

(Get Free Report)

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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