Apogee Therapeutics (NASDAQ:APGE) Posts Earnings Results, Beats Estimates By $0.06 EPS

Apogee Therapeutics (NASDAQ:APGE) released its quarterly earnings results on Monday. The company reported ($1.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.12) by $0.06, FiscalAI reports.

Apogee Therapeutics Trading Down 1.5%

APGE stock opened at $83.35 on Tuesday. The business’s fifty day moving average price is $80.24 and its 200 day moving average price is $73.40. Apogee Therapeutics has a 12-month low of $34.34 and a 12-month high of $95.32. The company has a market capitalization of $5.15 billion, a PE ratio of -19.61 and a beta of 0.69.

Insider Activity at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 5,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $84.14, for a total value of $462,770.00. Following the completion of the transaction, the insider owned 207,023 shares of the company’s stock, valued at $17,418,915.22. This trade represents a 2.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Thomas Henderson sold 20,000 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $74.78, for a total value of $1,495,600.00. Following the transaction, the chief executive officer directly owned 1,152,987 shares of the company’s stock, valued at $86,220,367.86. The trade was a 1.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 76,500 shares of company stock valued at $5,734,420. Insiders own 24.30% of the company’s stock.

Institutional Trading of Apogee Therapeutics

Several hedge funds have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its holdings in Apogee Therapeutics by 2.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 7,151 shares of the company’s stock worth $540,000 after acquiring an additional 152 shares in the last quarter. Stifel Financial Corp grew its stake in shares of Apogee Therapeutics by 3.5% during the fourth quarter. Stifel Financial Corp now owns 5,214 shares of the company’s stock worth $394,000 after purchasing an additional 175 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Apogee Therapeutics in the fourth quarter valued at $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Apogee Therapeutics by 2.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,529 shares of the company’s stock worth $921,000 after acquiring an additional 694 shares in the last quarter. Finally, Virtus Investment Advisers LLC increased its holdings in shares of Apogee Therapeutics by 27.0% in the 4th quarter. Virtus Investment Advisers LLC now owns 3,451 shares of the company’s stock valued at $260,000 after acquiring an additional 733 shares during the last quarter. Institutional investors and hedge funds own 79.04% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on APGE. Canaccord Genuity Group boosted their price target on shares of Apogee Therapeutics from $89.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Wedbush increased their price objective on shares of Apogee Therapeutics from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, March 3rd. BTIG Research reissued a “buy” rating and issued a $137.00 target price on shares of Apogee Therapeutics in a research note on Monday, March 23rd. Truist Financial started coverage on Apogee Therapeutics in a research report on Tuesday, March 17th. They issued a “hold” rating and a $83.00 price target for the company. Finally, Guggenheim increased their price target on Apogee Therapeutics from $130.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Apogee Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $112.73.

Apogee Therapeutics Company Profile

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.