Carmignac Gestion bought a new stake in Apogee Therapeutics Inc. (NASDAQ:APGE – Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 44,475 shares of the company’s stock, valued at approximately $5,903,000. Carmignac Gestion owned about 0.07% of Apogee Therapeutics as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in APGE. Nykredit A S bought a new stake in shares of Apogee Therapeutics in the 2nd quarter valued at about $174,000. Corient Private Wealth LP acquired a new stake in Apogee Therapeutics during the 2nd quarter valued at approximately $680,000. Absolute Gestao de Investimentos Ltda. bought a new position in Apogee Therapeutics during the 2nd quarter worth approximately $27,210,000. Groupe la Francaise bought a new stake in shares of Apogee Therapeutics in the 2nd quarter valued at $11,159,000. Finally, California State Teachers Retirement System increased its position in shares of Apogee Therapeutics by 15,025.8% during the second quarter. California State Teachers Retirement System now owns 5,772,162 shares of the company’s stock worth $766,139,000 after buying an additional 5,734,001 shares during the period. 79.04% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research analysts have recently weighed in on APGE shares. BTIG Research lowered Apogee Therapeutics from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 12th. UBS Group cut Apogee Therapeutics from a “buy” rating to a “neutral” rating and increased their price target for the stock from $100.00 to $135.11 in a report on Tuesday, June 23rd. Guggenheim lowered shares of Apogee Therapeutics from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 23rd. Truist Financial boosted their target price on shares of Apogee Therapeutics from $81.00 to $135.00 and gave the company a “hold” rating in a research report on Thursday, August 13th. Finally, Citigroup downgraded shares of Apogee Therapeutics from a “buy” rating to a “neutral” rating and lifted their price target for the company from $125.00 to $135.00 in a research note on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $126.77.
Insider Transactions at Apogee Therapeutics
In other Apogee Therapeutics news, CEO Michael Henderson sold 80,000 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $132.54, for a total value of $10,603,200.00. Following the transaction, the chief executive officer directly owned 1,015,987 shares in the company, valued at $134,658,916.98. The trade was a 7.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Carl Dambkowski sold 26,400 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $23,768,284.80. The trade was a 12.84% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 157,400 shares of company stock worth $19,912,045 over the last three months. 24.30% of the stock is owned by insiders.
Apogee Therapeutics Price Performance
Shares of Apogee Therapeutics stock remained flat at $135.07 during trading hours on Tuesday. The stock has a fifty day moving average of $134.28 and a two-hundred day moving average of $101.66. The firm has a market cap of $8.40 billion, a price-to-earnings ratio of -31.12 and a beta of 0.33. Apogee Therapeutics Inc. has a fifty-two week low of $35.39 and a fifty-two week high of $135.09.
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 (EPS) for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.07). On average, equities research analysts predict that Apogee Therapeutics Inc. will post -4.47 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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