Apogee Therapeutics (NASDAQ:APGE) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Apogee Therapeutics (NASDAQ:APGE) from a hold rating to a sell rating in a research note released on Saturday.

A number of other analysts have also issued reports on the company. Zacks Research lowered Apogee Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 14th. Citigroup restated a “buy” rating on shares of Apogee Therapeutics in a research note on Thursday, August 28th. Bank of America lifted their price objective on Apogee Therapeutics from $78.00 to $87.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. BTIG Research reaffirmed a “buy” rating and issued a $115.00 target price on shares of Apogee Therapeutics in a research report on Thursday, October 9th. Finally, Royal Bank Of Canada raised their price target on shares of Apogee Therapeutics from $60.00 to $70.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $98.38.

Apogee Therapeutics Stock Down 0.9%

APGE opened at $76.09 on Friday. The firm’s 50 day moving average is $58.31 and its 200-day moving average is $45.76. Apogee Therapeutics has a 52-week low of $26.20 and a 52-week high of $77.08. The firm has a market capitalization of $5.20 billion, a P/E ratio of -17.37 and a beta of 1.40.

Apogee Therapeutics (NASDAQ:APGE) last released its quarterly earnings results on Monday, November 10th. The company reported ($1.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.14) by $0.03. Equities analysts expect that Apogee Therapeutics will post -3.09 earnings per share for the current fiscal year.

Insider Activity at Apogee Therapeutics

In other news, CEO Michael Thomas Henderson sold 40,000 shares of the stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $75.01, for a total transaction of $3,000,400.00. Following the sale, the chief executive officer directly owned 1,232,987 shares in the company, valued at approximately $92,486,354.87. This represents a 3.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Carl Dambkowski sold 10,900 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $75.00, for a total value of $817,500.00. Following the transaction, the insider owned 271,108 shares of the company’s stock, valued at $20,333,100. This represents a 3.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 86,795 shares of company stock valued at $5,875,408 over the last ninety days. Corporate insiders own 42.77% of the company’s stock.

Institutional Trading of Apogee Therapeutics

A number of large investors have recently modified their holdings of APGE. Nisa Investment Advisors LLC lifted its position in Apogee Therapeutics by 99.2% in the 2nd 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 last quarter. ANTIPODES PARTNERS Ltd increased its stake in shares of Apogee Therapeutics by 41.2% in the third quarter. ANTIPODES PARTNERS Ltd now owns 843 shares of the company’s stock valued at $33,000 after purchasing an additional 246 shares during the period. Brooklyn Investment Group bought a new stake in shares of Apogee Therapeutics during the first quarter valued at approximately $42,000. AlphaQuest LLC bought a new stake in shares of Apogee Therapeutics during the first quarter valued at approximately $43,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Apogee Therapeutics by 18.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,779 shares of the company’s stock worth $77,000 after buying an additional 272 shares during the period. Institutional investors and hedge funds own 79.04% of the company’s stock.

Apogee Therapeutics Company Profile

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.