Avoro Capital Advisors LLC acquired a new position in shares of Apogee Therapeutics Inc. (NASDAQ:APGE – Free Report) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 500,000 shares of the company’s stock, valued at approximately $37,740,000. Apogee Therapeutics accounts for 0.4% of Avoro Capital Advisors LLC’s holdings, making the stock its 27th largest holding.
A number of other hedge funds have also recently made changes to their positions in the stock. Public Employees Retirement Association of Colorado purchased a new position in shares of Apogee Therapeutics during the 4th quarter worth approximately $371,000. Mariner LLC boosted its position in Apogee Therapeutics by 54.9% in the 4th quarter. Mariner LLC now owns 9,101 shares of the company’s stock valued at $687,000 after buying an additional 3,224 shares during the period. Nicholas Investment Partners LP purchased a new position in Apogee Therapeutics in the 4th quarter valued at approximately $8,524,000. First Turn Management LLC boosted its position in Apogee Therapeutics by 17.9% in the 4th quarter. First Turn Management LLC now owns 474,839 shares of the company’s stock valued at $35,841,000 after buying an additional 72,028 shares during the period. Finally, Kennedy Capital Management LLC boosted its position in Apogee Therapeutics by 0.7% in the 4th quarter. Kennedy Capital Management LLC now owns 124,979 shares of the company’s stock valued at $9,433,000 after buying an additional 928 shares during the period. Hedge funds and other institutional investors own 79.04% of the company’s stock.
Insiders Place Their Bets
In other news, insider Carl Dambkowski sold 5,500 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $78.71, for a total value of $432,905.00. Following the sale, the insider directly owned 205,648 shares in the company, valued at approximately $16,186,554.08. This trade represents a 2.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Thomas Henderson sold 20,000 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $83.38, for a total transaction of $1,667,600.00. Following the completion of the sale, the chief executive officer owned 1,095,987 shares in the company, valued at $91,383,396.06. The trade was a 1.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 76,500 shares of company stock worth $6,323,295 over the last 90 days. Company insiders own 24.30% of the company’s stock.
Wall Street Analyst Weigh In
View Our Latest Research Report on APGE
Apogee Therapeutics Trading Down 1.1%
Shares of APGE opened at $85.24 on Wednesday. Apogee Therapeutics Inc. has a twelve month low of $34.34 and a twelve month high of $95.32. The firm’s fifty day simple moving average is $84.52 and its 200-day simple moving average is $77.61. The firm has a market capitalization of $5.28 billion, a price-to-earnings ratio of -19.69 and a beta of 0.62.
Apogee Therapeutics (NASDAQ:APGE – Get Free Report) last announced its quarterly earnings data on Monday, May 11th. The company reported ($1.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.07) by $0.01. On average, analysts predict that Apogee Therapeutics Inc. will post -4.45 earnings per share for the current fiscal year.
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.
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