E Fund Management Co. Ltd. acquired a new stake in Apogee Therapeutics Inc. (NASDAQ:APGE – Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 4,706 shares of the company’s stock, valued at approximately $625,000.
Other institutional investors have also made changes to their positions in the company. Rockefeller Capital Management L.P. acquired a new stake in Apogee Therapeutics in the 4th quarter valued at $25,000. Los Angeles Capital Management LLC acquired a new position in shares of Apogee Therapeutics during the 4th quarter worth about $37,000. GAMMA Investing LLC boosted its stake in shares of Apogee Therapeutics by 40.5% during the 2nd quarter. GAMMA Investing LLC now owns 309 shares of the company’s stock worth $41,000 after buying an additional 89 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Apogee Therapeutics by 61.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 645 shares of the company’s stock valued at $54,000 after acquiring an additional 246 shares in the last quarter. Finally, Longfellow Investment Management Co. LLC bought a new position in shares of Apogee Therapeutics in the 2nd quarter valued at about $81,000. Institutional investors own 79.04% of the company’s stock.
Analyst Ratings Changes
Several research analysts have weighed in on APGE shares. Canaccord Genuity Group lowered Apogee Therapeutics from a “buy” rating to a “hold” rating and boosted their price target for the stock from $130.00 to $135.11 in a research report on Monday, June 22nd. Truist Financial raised their target price on shares of Apogee Therapeutics from $81.00 to $135.00 and gave the company a “hold” rating in a research note on Thursday, August 13th. Stifel Nicolaus restated a “hold” rating and set a $135.00 target price (up from $133.00) on shares of Apogee Therapeutics in a report on Wednesday, June 24th. Mizuho reaffirmed a “neutral” rating and set a $135.00 price target (up from $110.00) on shares of Apogee Therapeutics in a research report on Wednesday, June 24th. Finally, Rothschild & Co Redburn initiated coverage on shares of Apogee Therapeutics in a research note on Friday, May 1st. They issued a “buy” rating and a $140.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Apogee Therapeutics has an average rating of “Hold” and an average price target of $124.43.
Apogee Therapeutics Stock Performance
Shares of APGE stock opened at $134.71 on Thursday. Apogee Therapeutics Inc. has a 52 week low of $35.39 and a 52 week high of $134.88. The company has a 50-day simple moving average of $127.48 and a 200 day simple moving average of $95.34. The company has a market capitalization of $8.38 billion, a price-to-earnings ratio of -31.04 and a beta of 0.34.
Apogee Therapeutics (NASDAQ:APGE – Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported ($1.14) earnings per share for the quarter, missing the consensus estimate of ($1.07) by ($0.07). Sell-side analysts forecast that Apogee Therapeutics Inc. will post -4.47 EPS for the current year.
Insider Buying and Selling at Apogee Therapeutics
In related news, insider Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $134.17, for a total transaction of $737,935.00. Following the sale, the insider directly owned 168,498 shares of the company’s stock, valued at approximately $22,607,376.66. The trade was a 3.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Thomas Henderson sold 20,000 shares of the company’s 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 transaction, the chief executive officer owned 995,987 shares of the company’s stock, valued at approximately $133,093,742.81. This represents a 1.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 162,900 shares of company stock valued at $20,344,950 over the last 90 days. Corporate insiders own 24.30% of the company’s stock.
Apogee Therapeutics 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.
Featured Articles
- Five stocks we like better than Apogee Therapeutics
- Bloom Energy’s AI Surge Meets a Valuation Reality Check
- Target Is Winning Shoppers Back—Can the Rally Reach $180?
- IonQ’s Space Contract Points to a New Frontier for Quantum Investors
- Is Apple’s AI Strategy Smarter Than Skeptics Think?
Want to see what other hedge funds are holding APGE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apogee Therapeutics Inc. (NASDAQ:APGE – Free Report).
Receive News & Ratings for Apogee Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apogee Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.
