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

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

Apogee Therapeutics Stock Performance

APGE traded up $2.37 during midday trading on Monday, hitting $85.40. The company had a trading volume of 234,520 shares, compared to its average volume of 945,761. The company has a market capitalization of $5.28 billion, a PE ratio of -20.24 and a beta of 0.69. Apogee Therapeutics has a twelve month low of $34.34 and a twelve month high of $95.32. The firm’s 50-day simple moving average is $79.69 and its 200-day simple moving average is $73.01.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on APGE. Jefferies Financial Group reissued a “buy” rating and set a $95.00 price target on shares of Apogee Therapeutics in a report on Monday, February 2nd. Mizuho lifted their price target on shares of Apogee Therapeutics from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, March 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Apogee Therapeutics in a report on Monday, April 20th. Canaccord Genuity Group lifted their price target on shares of Apogee Therapeutics from $89.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Finally, Citigroup lifted their price target on shares of Apogee Therapeutics from $95.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $112.73.

Insider Activity

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $82.58, for a total value of $1,651,600.00. Following the completion of the sale, the chief executive officer owned 1,132,987 shares in the company, valued at approximately $93,562,066.46. This trade represents a 1.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Carl Dambkowski sold 5,500 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $84.14, for a total transaction of $462,770.00. Following the completion of the sale, the insider owned 207,023 shares of the company’s stock, valued at $17,418,915.22. The trade was a 2.59% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 76,500 shares of company stock valued at $5,734,420 in the last 90 days. Corporate insiders own 24.30% of the company’s stock.

Institutional Investors Weigh In On Apogee Therapeutics

Several institutional investors have recently modified their holdings of APGE. T. Rowe Price Investment Management Inc. grew its position in shares of Apogee Therapeutics by 189,522.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,732,456 shares of the company’s stock worth $206,246,000 after buying an additional 2,731,015 shares during the period. Janus Henderson Group PLC grew its position in shares of Apogee Therapeutics by 324.4% during the 4th quarter. Janus Henderson Group PLC now owns 2,062,604 shares of the company’s stock worth $155,697,000 after buying an additional 1,576,626 shares during the period. Wellington Management Group LLP grew its position in shares of Apogee Therapeutics by 24.1% during the 3rd quarter. Wellington Management Group LLP now owns 4,723,701 shares of the company’s stock worth $187,673,000 after buying an additional 917,991 shares during the period. UBS Group AG grew its position in shares of Apogee Therapeutics by 646.1% during the 3rd quarter. UBS Group AG now owns 799,465 shares of the company’s stock worth $31,763,000 after buying an additional 692,308 shares during the period. Finally, Remedium Capital Partners LLC bought a new position in Apogee Therapeutics during the 4th quarter worth approximately $44,050,000. Institutional investors and hedge funds 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.