State of New Jersey Common Pension Fund D Purchases New Holdings in Apogee Therapeutics Inc. $APGE

State of New Jersey Common Pension Fund D purchased a new position in shares of Apogee Therapeutics Inc. (NASDAQ:APGE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,879 shares of the company’s stock, valued at approximately $821,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Boyer Financial Services Inc. acquired a new position in Apogee Therapeutics in the 4th quarter valued at $237,000. Comerica Bank increased its position in shares of Apogee Therapeutics by 1.0% in the fourth quarter. Comerica Bank now owns 35,872 shares of the company’s stock worth $2,708,000 after purchasing an additional 338 shares during the period. Pictet Asset Management Holding SA bought a new position in shares of Apogee Therapeutics in the fourth quarter worth $23,616,000. UBS Group AG raised its stake in Apogee Therapeutics by 21.9% in the fourth quarter. UBS Group AG now owns 974,826 shares of the company’s stock valued at $73,580,000 after purchasing an additional 175,361 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake 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 in the last quarter. Institutional investors own 79.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on APGE. Guggenheim increased their price objective on shares of Apogee Therapeutics from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, March 24th. Jefferies Financial Group restated a “buy” rating and issued a $95.00 target price on shares of Apogee Therapeutics in a research report on Monday, February 2nd. Citigroup increased their price target on shares of Apogee Therapeutics from $95.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Rothschild & Co Redburn began coverage on shares of Apogee Therapeutics in a research note on Friday, May 1st. They issued a “buy” rating and a $140.00 price objective on the stock. Finally, Truist Financial initiated coverage on shares of Apogee Therapeutics in a research report on Tuesday, March 17th. They set a “hold” rating and a $83.00 price objective for the company. 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 assigned a Sell rating to the stock. According to MarketBeat, Apogee Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $112.73.

Insider Buying and Selling at Apogee Therapeutics

In related news, CEO Michael Thomas Henderson sold 20,000 shares of the business’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $82.58, for a total transaction of $1,651,600.00. Following the sale, the chief executive officer owned 1,132,987 shares in the company, valued at $93,562,066.46. The trade was a 1.73% 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, insider Carl Dambkowski sold 5,500 shares of the company’s 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 completion of the transaction, the insider directly owned 207,023 shares of the company’s stock, valued at approximately $17,418,915.22. The trade was a 2.59% 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. In the last three months, insiders have sold 76,500 shares of company stock worth $5,734,420. 24.30% of the stock is currently owned by company insiders.

Apogee Therapeutics Price Performance

Shares of NASDAQ:APGE opened at $84.60 on Tuesday. The company has a market cap of $5.23 billion, a price-to-earnings ratio of -20.05 and a beta of 0.69. The firm has a 50 day simple moving average of $80.24 and a 200 day simple moving average of $73.40. Apogee Therapeutics Inc. has a one year low of $34.34 and a one year high of $95.32.

Apogee Therapeutics (NASDAQ:APGE) last posted its earnings results on Monday, May 11th. The company reported ($1.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.12) by $0.06. As a group, analysts expect that Apogee Therapeutics Inc. will post -4.57 EPS for the current 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.