397,000 Shares in Apogee Therapeutics Inc. $APGE Bought by Man Group plc

Man Group plc purchased a new stake in shares of Apogee Therapeutics Inc. (NASDAQ:APGE) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 397,000 shares of the company’s stock, valued at approximately $52,694,000. Man Group plc owned approximately 0.64% of Apogee Therapeutics as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Apogee Therapeutics by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,529 shares of the company’s stock worth $921,000 after purchasing an additional 694 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Apogee Therapeutics by 100.0% during the 1st quarter. Millennium Management LLC now owns 260,335 shares of the company’s stock valued at $9,726,000 after buying an additional 130,164 shares in the last quarter. Creative Planning bought a new stake in Apogee Therapeutics in the 2nd quarter worth approximately $392,000. Legal & General Group Plc lifted its position in Apogee Therapeutics by 7.4% in the 2nd quarter. Legal & General Group Plc now owns 27,689 shares of the company’s stock worth $1,203,000 after buying an additional 1,907 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Apogee Therapeutics by 10,570.6% in the second quarter. Russell Investments Group Ltd. now owns 21,768 shares of the company’s stock worth $945,000 after buying an additional 21,564 shares in the last quarter. Institutional investors own 79.04% of the company’s stock.

Apogee Therapeutics Trading Up 0.0%

Apogee Therapeutics stock opened at $134.85 on Wednesday. The firm has a market cap of $8.39 billion, a P/E ratio of -31.07 and a beta of 0.34. Apogee Therapeutics Inc. has a 1-year low of $35.39 and a 1-year high of $134.88. The firm has a 50-day moving average of $131.28 and a 200-day moving average of $97.27.

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

Insider Buying and Selling

In other news, insider Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $134.17, for a total value of $737,935.00. Following the sale, the insider directly owned 168,498 shares in the company, valued at approximately $22,607,376.66. This trade represents a 3.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 that occurred on 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 transaction, the chief executive officer directly owned 995,987 shares in the company, valued at $133,093,742.81. This trade represents a 1.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 162,900 shares of company stock worth $20,344,950. Corporate insiders own 24.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on APGE. UBS Group cut shares of Apogee Therapeutics from a “buy” rating to a “neutral” rating and increased their price target for the company from $100.00 to $135.11 in a research report on Tuesday, June 23rd. Craig Hallum set a $135.11 price objective on shares of Apogee Therapeutics and gave the company a “hold” rating in a research note on Monday, June 22nd. Stifel Nicolaus reaffirmed a “hold” rating and set a $135.00 target price (up from $133.00) on shares of Apogee Therapeutics in a report on Wednesday, June 24th. The Goldman Sachs Group set a $89.00 target price on shares of Apogee Therapeutics in a report on Thursday, May 28th. Finally, Royal Bank Of Canada lifted their target price on shares of Apogee Therapeutics from $82.00 to $97.00 and gave the stock a “sector perform” rating in a research report on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $124.43.

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.