Seven Grand Managers LLC Makes New $3.77 Million Investment in Apogee Therapeutics Inc. $APGE

Seven Grand Managers LLC acquired a new position in shares of Apogee Therapeutics Inc. (NASDAQ:APGE) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 50,000 shares of the company’s stock, valued at approximately $3,774,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ANTIPODES PARTNERS Ltd boosted its stake in Apogee Therapeutics by 41.2% during the third quarter. ANTIPODES PARTNERS Ltd now owns 843 shares of the company’s stock worth $33,000 after buying an additional 246 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Apogee Therapeutics in the 3rd quarter valued at $96,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Apogee Therapeutics by 49.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,665 shares of the company’s stock valued at $201,000 after purchasing an additional 882 shares during the last quarter. Baader Bank Aktiengesellschaft acquired a new position in shares of Apogee Therapeutics in the 4th quarter valued at $234,000. Finally, Boyer Financial Services Inc. acquired a new position in shares of Apogee Therapeutics in the 4th quarter valued at $237,000. Institutional investors and hedge funds own 79.04% of the company’s stock.

Apogee Therapeutics Trading Down 6.1%

APGE stock opened at $77.75 on Thursday. The company has a market capitalization of $4.81 billion, a PE ratio of -17.96 and a beta of 0.69. Apogee Therapeutics Inc. has a 12-month low of $34.34 and a 12-month high of $95.32. The business’s fifty day moving average price is $82.41 and its 200 day moving average price is $75.62.

Apogee Therapeutics (NASDAQ:APGE) last posted its quarterly earnings data on Monday, May 11th. The company reported ($1.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.07) by $0.01. Research analysts predict that Apogee Therapeutics Inc. will post -4.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on APGE shares. Wedbush upped their price target on Apogee Therapeutics from $120.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday. Mizuho upped their price target on Apogee Therapeutics from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, March 30th. Truist Financial decreased their price target on Apogee Therapeutics from $83.00 to $81.00 and set a “hold” rating on the stock in a research note on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Apogee Therapeutics in a research note on Monday, April 20th. Finally, Guggenheim upped their price target on Apogee Therapeutics from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $115.27.

Insider Buying and Selling at Apogee Therapeutics

In related news, insider Carl Dambkowski sold 5,500 shares of the business’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $84.14, for a total value of $462,770.00. Following the sale, the insider owned 207,023 shares in the company, valued at approximately $17,418,915.22. The trade was a 2.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 business’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $82.09, for a total value of $1,641,800.00. Following the completion of the sale, the chief executive officer owned 1,115,987 shares in the company, valued at $91,611,372.83. This represents a 1.76% decrease in their position. 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 sold a total of 76,500 shares of company stock worth $6,109,220 in the last quarter. Company insiders own 24.30% of the company’s stock.

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.