Apogee Therapeutics (NASDAQ:APGE) Downgraded by Wall Street Zen to “Sell”

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

Several other research analysts also recently commented on APGE. Citigroup reaffirmed a “buy” rating on shares of Apogee Therapeutics in a research note on Thursday, August 28th. Wedbush reissued an “outperform” rating and issued a $90.00 price target on shares of Apogee Therapeutics in a report on Monday, August 11th. BTIG Research reaffirmed a “buy” rating and set a $115.00 price objective on shares of Apogee Therapeutics in a research note on Thursday, October 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Apogee Therapeutics in a report on Wednesday, October 8th. Finally, Craig Hallum started coverage on Apogee Therapeutics in a research note on Monday, November 3rd. They issued a “buy” rating and a $109.00 target price on the stock. One investment 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. According to MarketBeat, Apogee Therapeutics has an average rating of “Moderate Buy” and an average target price of $98.38.

Apogee Therapeutics Trading Up 1.7%

NASDAQ APGE opened at $76.75 on Friday. 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 1-year low of $26.20 and a 1-year high of $77.09. The stock has a 50-day moving average of $57.59 and a 200-day moving average of $45.43.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly 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. As a group, equities research analysts forecast that Apogee Therapeutics will post -3.09 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in APGE. Invesco Ltd. boosted its position in shares of Apogee Therapeutics by 14.4% during the first quarter. Invesco Ltd. now owns 24,310 shares of the company’s stock valued at $908,000 after purchasing an additional 3,054 shares in the last quarter. Nuveen LLC purchased a new position in Apogee Therapeutics during the first quarter valued at $4,142,000. Brooklyn Investment Group bought a new stake in shares of Apogee Therapeutics during the 1st quarter valued at $42,000. Wellington Management Group LLP grew its position in shares of Apogee Therapeutics by 21.4% in the 1st quarter. Wellington Management Group LLP now owns 5,485,754 shares of the company’s stock worth $204,948,000 after buying an additional 968,391 shares during the period. Finally, AlphaQuest LLC bought a new position in shares of Apogee Therapeutics in the 1st quarter worth about $43,000. Institutional investors 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.