Apogee Therapeutics (NASDAQ:APGE) Director Fairmount Funds Management Llc Sells 1,750,000 Shares

Apogee Therapeutics Inc. (NASDAQ:APGE) Director Fairmount Funds Management Llc sold 1,750,000 shares of the company’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $76.30, for a total transaction of $133,525,000.00. Following the transaction, the director owned 298,647 shares in the company, valued at $22,786,766.10. This represents a 85.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Apogee Therapeutics Stock Performance

Shares of APGE traded down $2.05 during mid-day trading on Thursday, hitting $79.86. 686,982 shares of the company traded hands, compared to its average volume of 775,925. Apogee Therapeutics Inc. has a 1 year low of $26.20 and a 1 year high of $84.56. The stock has a 50-day moving average price of $75.01 and a two-hundred day moving average price of $54.10. The stock has a market cap of $5.46 billion, a price-to-earnings ratio of -18.23 and a beta of 1.41.

Apogee Therapeutics (NASDAQ:APGE) last announced its earnings results on Monday, November 10th. The company reported ($1.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.14) by $0.03. On average, analysts forecast that Apogee Therapeutics Inc. will post -3.09 EPS for the current year.

Hedge Funds Weigh In On Apogee Therapeutics

Several institutional investors have recently added to or reduced their stakes in APGE. Nisa Investment Advisors LLC boosted its position in shares of Apogee Therapeutics by 99.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 769 shares of the company’s stock valued at $33,000 after acquiring an additional 383 shares during the last quarter. ANTIPODES PARTNERS Ltd raised its stake in Apogee Therapeutics by 41.2% during the third quarter. ANTIPODES PARTNERS Ltd now owns 843 shares of the company’s stock valued at $33,000 after purchasing an additional 246 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Apogee Therapeutics by 18.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,779 shares of the company’s stock valued at $77,000 after purchasing an additional 272 shares during the last quarter. Quantbot Technologies LP bought a new position in Apogee Therapeutics during the third quarter valued at $96,000. Finally, BNP Paribas Financial Markets grew its stake in shares of Apogee Therapeutics by 34.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,649 shares of the company’s stock worth $158,000 after buying an additional 941 shares in the last quarter. Hedge funds and other institutional investors own 79.04% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on APGE shares. UBS Group raised Apogee Therapeutics to a “strong-buy” rating in a research report on Wednesday, January 7th. Wolfe Research assumed coverage on shares of Apogee Therapeutics in a research note on Wednesday, January 7th. They issued a “peer perform” rating on the stock. Wall Street Zen lowered shares of Apogee Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, December 6th. Craig Hallum reaffirmed a “buy” rating and set a $116.00 target price on shares of Apogee Therapeutics in a report on Wednesday, January 7th. Finally, Mizuho started coverage on shares of Apogee Therapeutics in a research report on Tuesday, October 21st. They issued an “outperform” rating and a $105.00 price target on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Apogee Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $105.45.

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.