Citigroup Lowers Rating on Apogee Therapeutics to Hold
Citigroup downgraded Apogee Therapeutics to a hold rating with a $135 price target, a 1.75% upside from the current price.
Key Points
- Citigroup analyst Geoff Meacham downgraded Apogee Therapeutics to a hold rating with a $135 price target on June 23, 2026.
- Citigroup's $135 price target implies 1.75% upside from Apogee Therapeutics, Inc.'s ($APGE) current $132.68 share price.
- Apogee Therapeutics, trading near $132.55 on Tuesday, has a market cap of $9.99 billion and a forward P/E ratio indicating it isn't profitable.
- Peers like T. Rowe Price and FMR LLC adjusted their positions, while insiders like CEO Michael Henderson sold shares in June 2026.
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Citigroup analyst Geoff Meacham downgraded Apogee Therapeutics, Inc. (NasdaqGM: APGE), assigning the stock a hold rating with a price target of $135. This change was reported on June 23, 2026, as part of Citigroup's latest analysis.
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Other Institutional Activity in Apogee Therapeutics
Several institutional investors have recently adjusted their positions in Apogee Therapeutics. T. Rowe Price Investment Management significantly increased its holdings by 7,568,528 shares, resulting in a total of 10,300,984 shares valued at approximately $867 million, marking a 277% increase. FMR LLC also boosted its stake by 1,037,253 shares to hold 9,262,291 shares worth about $780 million, a 12.6% increase. Meanwhile, Wellington Management Group reduced its position by 370,882 shares, ending with 4,375,703 shares valued at $368 million, a 7.8% decrease.
Apogee Therapeutics, Inc. Stock Down 1.7%
Shares of Apogee Therapeutics traded near $132.55 on Tuesday. The company has a market cap of approximately $9.99 billion. Apogee's forward P/E ratio is not meaningful as it is not currently profitable. The stock's beta is 0.619, indicating lower volatility than the market. Over the past 52 weeks, the stock has ranged from a low of $34.34 to a high of $133.00. Apogee's 50-day moving average is $84.76, and its 200-day moving average is $69.38. The company maintains a robust current ratio of 32.587 and a quick ratio of 32.385, with 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.
Recent Earnings
Apogee Therapeutics has yet to turn a profit, with an EPS of -$4.33. The company reported a return on equity of -28.47%, and its net margin is currently at 0%. Investors are looking forward to the next earnings report expected on August 10, 2026.
Insider Buying and Selling at Apogee Therapeutics, Inc.
Recent insider activity includes CEO Michael Henderson selling 20,000 shares on June 10, 2026, under a planned Rule 10b5-1 trading plan. On June 9, 2026, several insiders, including Mark McKenna and William Jones Jr., purchased 7,657 shares each.
Analysts Set New Price Targets
On June 23, 2026, Citigroup downgraded Apogee Therapeutics to a hold rating with a $135 price target. RBC Capital maintained its hold rating with the same target on the same day. UBS also downgraded the stock to hold with a similar target of $135.11.
About Apogee Therapeutics
Apogee Therapeutics, Inc. is a biotechnology company based in Waltham, Massachusetts. It focuses on developing novel biologics for inflammatory and immunology diseases, including atopic dermatitis and asthma. The company is working on several clinical-stage products, such as Zumilokibart, a monoclonal antibody in phase 2 trials, and other treatments in earlier stages. Apogee was founded in 2022 and is led by CEO Dr. Michael Thomas Henderson.
Bottom Line
Apogee Therapeutics is navigating a pivotal moment as Citigroup lowers its rating to hold. The company's stock has seen significant movement, both in institutional adjustments and insider transactions. Investors will be closely watching the upcoming earnings report and any further analyst updates.
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