Apogee Therapeutics (NASDAQ:APGE) Stock Rating Lowered by Wall Street Zen

Apogee Therapeutics (NASDAQ:APGE) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Several other analysts also recently commented on the stock. Citigroup reissued a “buy” rating on shares of Apogee Therapeutics in a research report on Thursday, August 28th. Craig Hallum started coverage on shares of Apogee Therapeutics in a research note on Monday, November 3rd. They issued a “buy” rating and a $109.00 target price on the stock. Wedbush reissued an “outperform” rating and set a $90.00 price target on shares of Apogee Therapeutics in a research report on Monday, August 11th. Bank of America boosted their price objective on shares of Apogee Therapeutics from $78.00 to $87.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Apogee Therapeutics in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Apogee Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $98.38.

Apogee Therapeutics Stock Up 1.7%

APGE stock opened at $76.75 on Friday. The business has a 50 day moving average of $57.59 and a 200 day moving average of $45.43. The firm has a market cap of $5.24 billion, a PE ratio of -17.52 and a beta of 1.41. Apogee Therapeutics has a twelve month low of $26.20 and a twelve month high of $77.09.

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

Insider Buying and Selling

In other Apogee Therapeutics news, insider Carl Dambkowski sold 10,900 shares of the business’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $75.00, for a total transaction of $817,500.00. Following the completion of the sale, the insider directly owned 271,108 shares in the company, valued at approximately $20,333,100. The trade was a 3.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Thomas Henderson sold 40,000 shares of the firm’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $75.01, for a total value of $3,000,400.00. Following the completion of the transaction, the chief executive officer owned 1,232,987 shares in the company, valued at approximately $92,486,354.87. This trade represents a 3.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 86,795 shares of company stock worth $5,875,408. 42.77% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of APGE. Nisa Investment Advisors LLC boosted its position in Apogee Therapeutics by 99.2% in the second quarter. Nisa Investment Advisors LLC now owns 769 shares of the company’s stock worth $33,000 after purchasing an additional 383 shares during the last quarter. ANTIPODES PARTNERS Ltd lifted its stake in shares of Apogee Therapeutics by 41.2% in the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 843 shares of the company’s stock worth $33,000 after purchasing an additional 246 shares during the period. Brooklyn Investment Group purchased a new position in shares of Apogee Therapeutics in the first quarter worth approximately $42,000. AlphaQuest LLC purchased a new position in shares of Apogee Therapeutics in the first quarter worth approximately $43,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in 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 valued at $77,000 after buying an additional 272 shares during the period. Institutional investors own 79.04% of the company’s stock.

About Apogee Therapeutics

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.