Canaccord Genuity Lowers Rating on Apogee Therapeutics to Hold
Apogee Therapeutics receives a hold rating from Canaccord Genuity with a $135.11 price target, a 1.82% upside from the current price.
Key Points
- Canaccord Genuity downgraded Apogee Therapeutics (APGE) to a hold rating on June 22, 2026, with a price target of $135.11.
- Canaccord Genuity's $135.11 price target implies 1.82% upside from Apogee Therapeutics, Inc.'s ($APGE) current $132.69 share price.
- Shares of Apogee Therapeutics traded near $90.38 on Monday, with a market cap of $6.81 billion and a 52-week high of $95.32.
- T. Rowe Price increased its stake in Apogee by 7.57 million shares, while insiders like CEO Michael Henderson sold shares in June.
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Canaccord Genuity has downgraded Apogee Therapeutics, Inc. (NasdaqGM: APGE) to a hold rating, setting a price target of $135.11. The change was made by analyst Edward Nash on June 22, 2026. This comes as Apogee trades near $90.38, highlighting its significant valuation in the biotech sector.
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Other Institutional Activity in Apogee Therapeutics
T. Rowe Price Investment Management significantly boosted its position in Apogee, adding 7.57 million shares to hold a total of 10.3 million shares valued at approximately $867 million, marking a 277% increase. FMR LLC also increased its holdings by over 1 million shares, now holding about 9.3 million shares worth $780 million, reflecting a 12.6% rise. Meanwhile, Wellington Management Group reduced its stake by 370,882 shares, bringing its total to 4.4 million shares valued at $368 million, a decrease of 7.8%. BlackRock, Inc. added 301,657 shares, increasing its holdings by 8% to 4.1 million shares valued at $344 million.
Apogee Therapeutics, Inc. Stock Down 1.7%
Shares of Apogee Therapeutics traded near $90.38 on Monday. The company, with a market cap of $6.81 billion, has a beta of 0.619, indicating lower volatility compared to the market. Its 52-week range spans from $34.34 to $95.32. The stock’s moving averages are $84.76 over 50 days and $69.38 over 200 days. Apogee maintains a robust liquidity position with a current ratio of 32.59 and a quick ratio of 32.39, alongside a debt-to-equity ratio of 0.641.
$APGE price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Insider Buying and Selling at Apogee Therapeutics, Inc.
In recent insider activity, CEO Michael Henderson sold 20,000 shares on June 10, 2026, at an average price of $83.38 in a planned transaction. On June 9, 2026, several insiders, including Mark McKenna and William Jones Jr., each acquired 7,657 shares, although these transactions were not planned.
Analysts Set New Price Targets
On June 22, 2026, Canaccord Genuity downgraded Apogee Therapeutics to a hold rating with a target of $135.11. RBC Capital maintained its hold rating with a $97 target on June 8, 2026, while Truist Securities also maintained a hold with an $81 target on May 27, 2026. The consensus among 16 analysts is a strong buy, with a mean target price of $119.50.
About Apogee Therapeutics
Apogee Therapeutics, Inc. is a biotechnology firm based in Waltham, Massachusetts. The company focuses on developing novel biologics for treating various inflammatory and immunological diseases such as atopic dermatitis and asthma. Apogee's leading product, Zumilokibart, is in phase 2 trials for atopic dermatitis and phase 1 for asthma. The company was founded in 2022 and is led by CEO Dr. Michael Thomas Henderson.
Bottom Line
Apogee Therapeutics is a notable player in the biotech sector, with recent institutional interest and a strong liquidity position. Canaccord Genuity's recent downgrade to a hold rating suggests a more cautious outlook, although the overall analyst sentiment remains positive. Investors should note that 13F filings and analyst ratings are backward-looking and may not reflect current positions or future performance.
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