Apogee Therapeutics (NASDAQ:APGE) Rating Lowered to “Hold” at Mizuho

Apogee Therapeutics (NASDAQ:APGE) was downgraded by investment analysts at Mizuho from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

Several other analysts have also issued reports on APGE. UBS Group lowered Apogee Therapeutics from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $100.00 to $135.11 in a report on Tuesday. The Goldman Sachs Group set a $89.00 target price on Apogee Therapeutics in a research note on Thursday, May 28th. TD Cowen lowered Apogee Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday. Wedbush downgraded Apogee Therapeutics from an “outperform” rating to a “neutral” rating and set a $135.00 price target for the company. in a research note on Monday. Finally, Craig Hallum set a $135.11 price target on Apogee Therapeutics and gave the company a “hold” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $121.25.

Apogee Therapeutics Stock Performance

Apogee Therapeutics stock opened at $132.69 on Wednesday. The firm has a market cap of $8.21 billion, a PE ratio of -30.64 and a beta of 0.62. The firm’s 50 day moving average price is $87.67 and its two-hundred day moving average price is $79.27. Apogee Therapeutics has a twelve month low of $34.34 and a twelve month high of $133.16.

Apogee Therapeutics (NASDAQ:APGE) last released its earnings results on Monday, May 11th. The company reported ($1.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.07) by $0.01. Equities analysts anticipate that Apogee Therapeutics will post -4.45 EPS for the current fiscal year.

Insider Activity at Apogee Therapeutics

In other news, insider Carl Dambkowski sold 26,400 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $132.60, for a total transaction of $3,500,640.00. Following the completion of the transaction, the insider directly owned 179,248 shares in the company, valued at $23,768,284.80. The trade was a 12.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Thomas Henderson sold 80,000 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $132.54, for a total transaction of $10,603,200.00. Following the transaction, the chief executive officer directly owned 1,015,987 shares in the company, valued at $134,658,916.98. This trade represents a 7.30% 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 $20,427,135. Company insiders own 24.30% of the company’s stock.

Institutional Trading of Apogee Therapeutics

Hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake 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 valued at $921,000 after purchasing an additional 694 shares in the last quarter. Millennium Management LLC increased its stake in Apogee Therapeutics by 100.0% in the first quarter. Millennium Management LLC now owns 260,335 shares of the company’s stock valued at $9,726,000 after acquiring an additional 130,164 shares during the period. Creative Planning bought a new position in Apogee Therapeutics during the second quarter worth about $392,000. Legal & General Group Plc grew its stake in shares of Apogee Therapeutics by 7.4% in the 2nd quarter. Legal & General Group Plc now owns 27,689 shares of the company’s stock valued at $1,203,000 after purchasing an additional 1,907 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in shares of Apogee Therapeutics by 10,570.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 21,768 shares of the company’s stock worth $945,000 after buying an additional 21,564 shares during the period. Institutional investors own 79.04% of the company’s stock.

More Apogee Therapeutics News

Here are the key news stories impacting Apogee Therapeutics this week:

• Positive Sentiment: Apogee Therapeutics announced a proposed sale to AbbVie for $135.11 per share in cash, reinforcing the takeover premium and likely supporting the stock price. Article Title
• Neutral Sentiment: Stifel reiterated a hold rating and lifted its price target to $135, suggesting the shares are already close to fair value at the deal price. Article Title
• Neutral Sentiment: Citi downgraded the stock to neutral/hold while also raising its target to $135, reflecting a more cautious stance but still near the acquisition value. Article Title
• Neutral Sentiment: Unusual options activity showed heavy put buying, which may indicate some hedging or concern about deal execution risk. Article Title
• Negative Sentiment: A law firm launched an investigation into the adequacy of the proposed sale price and process, which could add legal overhang and uncertainty around the transaction. Article Title

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.