Pentwater Capital Management LP bought a new position in shares of Apogee Therapeutics Inc. (NASDAQ:APGE – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,425,000 shares of the company’s stock, valued at approximately $189,140,000. Apogee Therapeutics makes up approximately 1.2% of Pentwater Capital Management LP’s investment portfolio, making the stock its 18th largest position. Pentwater Capital Management LP owned about 2.29% of Apogee Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in Apogee Therapeutics by 40.5% in the 2nd quarter. GAMMA Investing LLC now owns 309 shares of the company’s stock valued at $41,000 after purchasing an additional 89 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of Apogee Therapeutics by 2.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 7,151 shares of the company’s stock worth $540,000 after buying an additional 152 shares in the last quarter. Seven Fleet Capital Management LP boosted its position in Apogee Therapeutics by 9.4% during the first quarter. Seven Fleet Capital Management LP now owns 1,969 shares of the company’s stock worth $166,000 after acquiring an additional 169 shares during the last quarter. Stifel Financial Corp grew its stake in Apogee Therapeutics by 3.5% during the 4th quarter. Stifel Financial Corp now owns 5,214 shares of the company’s stock valued at $394,000 after acquiring an additional 175 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in 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 during the last quarter. 79.04% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on APGE shares. Wedbush cut Apogee Therapeutics from an “outperform” rating to a “neutral” rating and set a $135.00 target price on the stock. in a report on Monday, June 22nd. Truist Financial boosted their price objective on Apogee Therapeutics from $81.00 to $135.00 and gave the stock a “hold” rating in a research note on Thursday, August 13th. Citigroup cut Apogee Therapeutics from a “buy” rating to a “neutral” rating and upped their target price for the company from $125.00 to $135.00 in a report on Tuesday, June 23rd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $135.00 target price (up from $133.00) on shares of Apogee Therapeutics in a research note on Wednesday, June 24th. Finally, The Goldman Sachs Group set a $89.00 price target on shares of Apogee Therapeutics in a research report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Apogee Therapeutics has a consensus rating of “Hold” and an average price target of $124.43.
Insider Activity
In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 80,000 shares of Apogee Therapeutics stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $132.54, for a total value of $10,603,200.00. Following the completion of the transaction, the chief executive officer directly owned 1,015,987 shares of the company’s stock, valued at $134,658,916.98. The trade was a 7.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Carl Dambkowski sold 26,400 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $132.60, for a total transaction of $3,500,640.00. Following the sale, the insider owned 179,248 shares in the company, valued at $23,768,284.80. This trade represents a 12.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 162,900 shares of company stock worth $20,344,950. 24.30% of the stock is owned by corporate insiders.
Apogee Therapeutics Stock Up 0.1%
NASDAQ:APGE opened at $134.95 on Thursday. Apogee Therapeutics Inc. has a 52 week low of $35.39 and a 52 week high of $134.99. The stock’s fifty day moving average is $132.21 and its two-hundred day moving average is $97.78. The company has a market capitalization of $8.39 billion, a P/E ratio of -31.09 and a beta of 0.34.
Apogee Therapeutics (NASDAQ:APGE – Get Free Report) last released its quarterly earnings results on Monday, August 10th. The company reported ($1.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.07). Sell-side analysts anticipate that Apogee Therapeutics Inc. will post -4.47 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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