Perceptive Advisors LLC Increases Stake in Apogee Therapeutics Inc. $APGE

Perceptive Advisors LLC boosted its position in Apogee Therapeutics Inc. (NASDAQ:APGE) by 72.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,330,651 shares of the company’s stock after acquiring an additional 978,662 shares during the period. Apogee Therapeutics accounts for 3.1% of Perceptive Advisors LLC’s holdings, making the stock its 5th largest holding. Perceptive Advisors LLC’s holdings in Apogee Therapeutics were worth $175,918,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in APGE. ANTIPODES PARTNERS Ltd grew its holdings in Apogee Therapeutics by 41.2% in the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 843 shares of the company’s stock worth $33,000 after acquiring an additional 246 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Apogee Therapeutics during the 4th quarter valued at about $37,000. Quantbot Technologies LP bought a new stake in shares of Apogee Therapeutics during the 3rd quarter valued at about $96,000. BNP Paribas Financial Markets boosted its stake in shares of Apogee Therapeutics by 34.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,649 shares of the company’s stock valued at $158,000 after purchasing an additional 941 shares in the last quarter. Finally, Ensign Peak Advisors Inc bought a new stake in shares of Apogee Therapeutics during the 4th quarter valued at about $170,000. Institutional investors own 79.04% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Truist Financial cut their target price on shares of Apogee Therapeutics from $83.00 to $81.00 and set a “hold” rating on the stock in a research note on Wednesday, May 27th. Guggenheim lifted their target price on shares of Apogee Therapeutics from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th. Wedbush lifted their target price on shares of Apogee Therapeutics from $120.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. BTIG Research reaffirmed a “buy” rating and set a $137.00 target price on shares of Apogee Therapeutics in a research note on Wednesday, May 27th. Finally, Citigroup lifted their target price on shares of Apogee Therapeutics from $95.00 to $125.00 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, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $114.56.

Apogee Therapeutics Price Performance

Shares of NASDAQ APGE opened at $88.43 on Thursday. Apogee Therapeutics Inc. has a 1 year low of $34.34 and a 1 year high of $95.32. The stock has a market cap of $5.47 billion, a P/E ratio of -20.42 and a beta of 0.62. The firm has a 50-day moving average of $84.61 and a 200 day moving average of $77.73.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly earnings results on Monday, May 11th. The company reported ($1.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.07) by $0.01. Research analysts expect that Apogee Therapeutics Inc. will post -4.45 earnings per share for the current fiscal year.

Insider Transactions at Apogee Therapeutics

In related news, insider Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $78.71, for a total transaction of $432,905.00. Following the completion of the transaction, the insider directly owned 205,648 shares of the company’s stock, valued at $16,186,554.08. This trade represents a 2.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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 Apogee Therapeutics stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $82.58, for a total transaction of $1,651,600.00. Following the transaction, the chief executive officer directly owned 1,132,987 shares of the company’s stock, valued at approximately $93,562,066.46. This trade represents a 1.73% 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. Over the last three months, insiders have sold 76,500 shares of company stock valued at $6,323,295. 24.30% of the stock is currently owned by corporate insiders.

Apogee Therapeutics 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.