Apogee Therapeutics (NASDAQ:APGE) Announces Earnings Results, Beats Expectations By $0.02 EPS

Apogee Therapeutics (NASDAQ:APGE) posted its earnings results on Monday. The company reported ($1.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.05) by $0.02, FiscalAI reports.

Apogee Therapeutics Stock Up 1.3%

APGE stock opened at $70.00 on Monday. Apogee Therapeutics has a twelve month low of $26.20 and a twelve month high of $84.56. The business has a 50 day moving average of $73.04 and a 200 day moving average of $59.80. The firm has a market cap of $4.78 billion, a PE ratio of -15.98 and a beta of 1.39.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Apogee Therapeutics in a research note on Tuesday, December 9th. They issued a “buy” rating and a $103.00 price target for the company. Stephens initiated coverage on shares of Apogee Therapeutics in a report on Tuesday, December 16th. They set an “overweight” rating and a $95.00 target price on the stock. Wall Street Zen cut Apogee Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, December 6th. Wolfe Research started coverage on Apogee Therapeutics in a research note on Wednesday, January 7th. They issued a “peer perform” rating on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Apogee Therapeutics in a research note on Wednesday, January 21st. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Apogee Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $104.58.

Insider Activity at Apogee Therapeutics

In other Apogee Therapeutics news, Director Fairmount Funds Management Llc sold 1,750,000 shares of the business’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $76.30, for a total transaction of $133,525,000.00. Following the completion of the sale, the director directly owned 298,647 shares in the company, valued at approximately $22,786,766.10. The trade was a 85.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Carl Dambkowski sold 5,500 shares of the company’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $65.79, for a total value of $361,845.00. Following the sale, the insider owned 211,148 shares of the company’s stock, valued at approximately $13,891,426.92. This trade represents a 2.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,885,100 shares of company stock valued at $143,557,153 over the last 90 days. Corporate insiders own 42.77% of the company’s stock.

Hedge Funds Weigh In On Apogee Therapeutics

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

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.