NINE MASTS CAPITAL Ltd Takes Position in Apogee Therapeutics Inc. $APGE

NINE MASTS CAPITAL Ltd acquired a new position in shares of Apogee Therapeutics Inc. (NASDAQ:APGE) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,400 shares of the company’s stock, valued at approximately $1,248,000.

Other institutional investors also recently modified their holdings of the company. TD Asset Management Inc raised its position in shares of Apogee Therapeutics by 55.3% in the 4th quarter. TD Asset Management Inc now owns 129,290 shares of the company’s stock worth $9,759,000 after acquiring an additional 46,050 shares in the last quarter. Vanguard Group Inc. grew its stake in Apogee Therapeutics by 27.3% during the fourth quarter. Vanguard Group Inc. now owns 2,857,824 shares of the company’s stock worth $215,709,000 after purchasing an additional 612,193 shares during the period. Bank of America Corp DE grew its stake in Apogee Therapeutics by 13.5% during the first quarter. Bank of America Corp DE now owns 900,871 shares of the company’s stock worth $75,826,000 after purchasing an additional 107,176 shares during the period. Pictet Asset Management Holding SA bought a new stake in Apogee Therapeutics in the fourth quarter worth approximately $23,616,000. Finally, Geode Capital Management LLC increased its holdings in Apogee Therapeutics by 18.7% in the fourth quarter. Geode Capital Management LLC now owns 1,059,085 shares of the company’s stock worth $79,957,000 after purchasing an additional 166,882 shares in the last quarter. 79.04% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on APGE shares. Truist Financial increased their price target on Apogee Therapeutics from $81.00 to $135.00 and gave the stock a “hold” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft downgraded shares of Apogee Therapeutics from a “buy” rating to a “hold” rating and boosted their target price for the company from $116.00 to $135.00 in a research report on Monday, June 22nd. Guggenheim lowered shares of Apogee Therapeutics from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 23rd. Stifel Nicolaus restated a “hold” rating and issued a $135.00 price target (up from $133.00) on shares of Apogee Therapeutics in a report on Wednesday, June 24th. Finally, UBS Group downgraded shares of Apogee Therapeutics from a “buy” rating to a “neutral” rating and lifted their price target for the company from $100.00 to $135.11 in a research note on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Apogee Therapeutics has an average rating of “Hold” and a consensus price target of $124.43.

Insider Activity

In related news, CEO Michael Thomas Henderson sold 20,000 shares of the company’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $133.63, for a total value of $2,672,600.00. Following the sale, the chief executive officer owned 995,987 shares in the company, valued at $133,093,742.81. This represents a 1.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $134.17, for a total value of $737,935.00. Following the transaction, the insider owned 168,498 shares of the company’s stock, valued at $22,607,376.66. This trade represents a 3.16% 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. Over the last three months, insiders have sold 162,900 shares of company stock valued at $20,344,950. 24.30% of the stock is currently owned by insiders.

Apogee Therapeutics Stock Up 0.0%

Shares of APGE opened at $134.59 on Tuesday. The business’s fifty day moving average is $125.45 and its 200 day moving average is $94.43. Apogee Therapeutics Inc. has a 12-month low of $35.39 and a 12-month high of $134.88. The stock has a market cap of $8.37 billion, a P/E ratio of -31.01 and a beta of 0.34.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly earnings results on Monday, August 10th. The company reported ($1.14) EPS for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.07). On average, analysts expect that Apogee Therapeutics Inc. will post -4.47 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.