PSP Research LLC Buys Shares of 6,984 Apogee Therapeutics Inc. $APGE

PSP Research LLC bought a new stake in Apogee Therapeutics Inc. (NASDAQ:APGE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,984 shares of the company’s stock, valued at approximately $527,000.

Several other large investors also recently bought and sold shares of the company. Wellington Management Group LLP grew its holdings in Apogee Therapeutics by 24.1% in the third quarter. Wellington Management Group LLP now owns 4,723,701 shares of the company’s stock valued at $187,673,000 after purchasing an additional 917,991 shares during the last quarter. Vanguard Group Inc. grew its holdings in 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 last quarter. Paradigm Biocapital Advisors LP grew its holdings in Apogee Therapeutics by 58.7% in the third quarter. Paradigm Biocapital Advisors LP now owns 1,521,757 shares of the company’s stock valued at $60,459,000 after purchasing an additional 563,127 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Apogee Therapeutics by 2.2% in the third quarter. Alliancebernstein L.P. now owns 1,419,132 shares of the company’s stock valued at $56,382,000 after purchasing an additional 30,983 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its holdings in Apogee Therapeutics by 77.5% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,290,464 shares of the company’s stock valued at $56,045,000 after purchasing an additional 563,464 shares during the last quarter. Institutional investors and hedge funds own 79.04% of the company’s stock.

Analysts Set New Price Targets

APGE has been the topic of several recent research reports. Jefferies Financial Group restated a “buy” rating and issued a $95.00 price objective on shares of Apogee Therapeutics in a research report on Monday, February 2nd. Citigroup upped their price objective on Apogee Therapeutics from $95.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Royal Bank Of Canada reduced their price objective on Apogee Therapeutics from $83.00 to $82.00 and set a “sector perform” rating on the stock in a research report on Monday, March 2nd. Guggenheim upped their price objective on Apogee Therapeutics from $130.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Finally, Mizuho upped their price objective on Apogee Therapeutics from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, March 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $112.73.

Apogee Therapeutics Trading Down 0.4%

NASDAQ APGE opened at $78.41 on Wednesday. The business’s 50-day moving average price is $81.51 and its 200 day moving average price is $74.53. Apogee Therapeutics Inc. has a twelve month low of $34.34 and a twelve month high of $95.32. The company has a market capitalization of $4.85 billion, a PE ratio of -18.11 and a beta of 0.69.

Apogee Therapeutics (NASDAQ:APGE) last released its earnings results on Monday, May 11th. The company reported ($1.06) earnings per share for the quarter, topping the consensus estimate of ($1.07) by $0.01. Equities analysts predict that Apogee Therapeutics Inc. will post -4.44 EPS for the current year.

Insider Activity

In related news, CEO Michael Thomas Henderson sold 20,000 shares of the stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $74.78, for a total transaction of $1,495,600.00. Following the transaction, the chief executive officer directly owned 1,152,987 shares in the company, valued at approximately $86,220,367.86. This represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Carl Dambkowski sold 5,500 shares of the stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $84.14, for a total value of $462,770.00. Following the transaction, the insider owned 207,023 shares in the company, valued at $17,418,915.22. This trade represents a 2.59% 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 76,500 shares of company stock worth $6,109,220 over the last quarter. 24.30% of the stock is currently owned by company insiders.

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.