WCM Investment Management LLC acquired a new stake in shares of Apogee Therapeutics Inc. (NASDAQ:APGE – Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 76,030 shares of the company’s stock, valued at approximately $5,985,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in shares of Apogee Therapeutics by 0.5% in the 4th quarter. Wellington Management Group LLP now owns 4,746,585 shares of the company’s stock worth $358,272,000 after buying an additional 22,884 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Apogee Therapeutics by 27.3% in the fourth quarter. Vanguard Group Inc. now owns 2,857,824 shares of the company’s stock valued at $215,709,000 after purchasing an additional 612,193 shares during the period. T. Rowe Price Investment Management Inc. raised its position in 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 last quarter. Perceptive Advisors LLC raised its holdings in shares of Apogee Therapeutics by 72.4% during the fourth quarter. Perceptive Advisors LLC now owns 2,330,651 shares of the company’s stock worth $175,918,000 after purchasing an additional 978,662 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of Apogee Therapeutics by 324.4% in the 4th quarter. Janus Henderson Group PLC now owns 2,062,604 shares of the company’s stock valued at $155,697,000 after buying an additional 1,576,626 shares during the period. Hedge funds and other institutional investors own 79.04% of the company’s stock.
Analyst Upgrades and Downgrades
APGE has been the topic of several analyst reports. BTIG Research restated a “buy” rating and set a $137.00 price target on shares of Apogee Therapeutics in a research report on Wednesday, May 27th. Wedbush lowered shares of Apogee Therapeutics from an “outperform” rating to a “neutral” rating and set a $135.00 target price on the stock. in a research report on Monday, June 22nd. Royal Bank Of Canada boosted their target price on shares of Apogee Therapeutics from $82.00 to $97.00 and gave the stock a “sector perform” rating in a research note on Monday, June 8th. Deutsche Bank Aktiengesellschaft cut Apogee Therapeutics from a “buy” rating to a “hold” rating and boosted their price target for the stock from $116.00 to $135.00 in a research report on Monday, June 22nd. Finally, UBS Group downgraded shares of Apogee Therapeutics from a “buy” rating to a “neutral” rating and increased their price objective for the company from $100.00 to $135.11 in a report on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $121.25.
Insider Transactions at Apogee Therapeutics
In other news, insider Carl Dambkowski sold 5,500 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $132.74, for a total transaction of $730,070.00. Following the sale, the insider owned 177,873 shares of the company’s stock, valued at approximately $23,610,862.02. This represents a 3.00% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 20,000 shares of the stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $133.63, for a total transaction of $2,672,600.00. Following the sale, the chief executive officer owned 995,987 shares in the company, valued at approximately $133,093,742.81. This trade represents a 1.97% 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 have sold 182,900 shares of company stock worth $21,711,585 over the last quarter. Insiders own 24.30% of the company’s stock.
Apogee Therapeutics Trading Up 0.1%
Shares of NASDAQ:APGE opened at $134.15 on Tuesday. The business has a 50-day moving average price of $104.47 and a 200 day moving average price of $86.46. The company has a market capitalization of $8.30 billion, a price-to-earnings ratio of -30.98 and a beta of 0.32. Apogee Therapeutics Inc. has a 12-month low of $34.34 and a 12-month high of $134.32.
Apogee Therapeutics (NASDAQ:APGE – Get Free Report) last issued its quarterly earnings data on Monday, May 11th. The company reported ($1.06) EPS for the quarter, topping the consensus estimate of ($1.07) by $0.01. As a group, equities research analysts predict that Apogee Therapeutics Inc. will post -4.45 earnings per share for the current fiscal year.
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.
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