Apogee Therapeutics (NASDAQ:APGE) Announces Quarterly Earnings Results, Misses Estimates By $0.07 EPS

Apogee Therapeutics (NASDAQ:APGE) announced its quarterly earnings results on Monday. The company reported ($1.14) EPS for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.07), FiscalAI reports.

Apogee Therapeutics Stock Down 0.1%

APGE opened at $134.65 on Tuesday. The stock has a market cap of $8.33 billion, a PE ratio of -31.10 and a beta of 0.35. The business has a 50 day moving average of $120.46 and a 200-day moving average of $92.33. Apogee Therapeutics has a 52 week low of $34.40 and a 52 week high of $134.88.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. BTIG Research reaffirmed a “buy” rating and issued a $137.00 target price on shares of Apogee Therapeutics in a research note on Wednesday, May 27th. Truist Financial dropped their price target on shares of Apogee Therapeutics from $83.00 to $81.00 and set a “hold” rating for the company in a research report on Wednesday, May 27th. Wedbush lowered shares of Apogee Therapeutics from an “outperform” rating to a “neutral” rating and set a $135.00 price target on the stock. in a report on Monday, June 22nd. TD Cowen cut shares of Apogee Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $135.00 price objective (up from $133.00) on shares of Apogee Therapeutics in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $121.25.

Insider Buying and Selling at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 5,500 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $134.17, for a total value of $737,935.00. Following the completion of the transaction, the insider owned 168,498 shares in the company, valued at approximately $22,607,376.66. This represents a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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, July 8th. The shares were sold at an average price of $133.63, for a total transaction of $2,672,600.00. Following the sale, the chief executive officer owned 995,987 shares in the company, valued at approximately $133,093,742.81. This trade represents a 1.97% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 182,900 shares of company stock worth $21,986,750. 24.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Apogee Therapeutics

Several large investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC bought a new stake in shares of Apogee Therapeutics in the 4th quarter worth approximately $37,000. Quantbot Technologies LP bought a new stake in Apogee Therapeutics in the third quarter worth $96,000. BNP Paribas Financial Markets grew its stake in shares of Apogee Therapeutics by 34.7% in the second quarter. BNP Paribas Financial Markets now owns 3,649 shares of the company’s stock worth $158,000 after acquiring an additional 941 shares during the last quarter. Ensign Peak Advisors Inc purchased a new stake in shares of Apogee Therapeutics in the fourth quarter worth $170,000. Finally, Quarry LP bought a new position in shares of Apogee Therapeutics during the fourth quarter valued at $189,000. 79.04% of the stock is currently owned by hedge funds and other institutional investors.

About Apogee Therapeutics

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.