PSP Research LLC Invests $527,000 in Apogee Therapeutics Inc. $APGE

PSP Research LLC acquired a new position in Apogee Therapeutics Inc. (NASDAQ:APGE) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 6,984 shares of the company’s stock, valued at approximately $527,000.

A number of other large investors also recently modified their holdings of APGE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 during the period. Millennium Management LLC grew its stake in shares of Apogee Therapeutics by 100.0% in the first 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 acquired a new stake in shares of Apogee Therapeutics in the second quarter valued at about $392,000. Legal & General Group Plc grew its stake in shares of Apogee Therapeutics by 7.4% in the second quarter. Legal & General Group Plc now owns 27,689 shares of the company’s stock valued at $1,203,000 after buying an additional 1,907 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of Apogee Therapeutics by 10,570.6% in the second quarter. Russell Investments Group Ltd. now owns 21,768 shares of the company’s stock valued at $945,000 after buying an additional 21,564 shares in the last quarter. 79.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 5,500 shares of the firm’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $84.14, for a total transaction of $462,770.00. Following the completion of the transaction, the insider directly owned 207,023 shares of the company’s stock, valued at $17,418,915.22. This trade represents a 2.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 Apogee Therapeutics stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $74.78, for a total value of $1,495,600.00. Following the completion of the transaction, the chief executive officer owned 1,152,987 shares of the company’s stock, valued at approximately $86,220,367.86. The trade was a 1.71% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 76,500 shares of company stock valued at $6,109,220. 24.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

APGE has been the subject of a number of recent research reports. Truist Financial initiated coverage on Apogee Therapeutics in a research note on Tuesday, March 17th. They issued a “hold” rating and a $83.00 target price for the company. Mizuho increased their target price on Apogee Therapeutics from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, March 30th. Citigroup increased their target price on Apogee Therapeutics from $95.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th. Royal Bank Of Canada lowered their target price on Apogee Therapeutics from $83.00 to $82.00 and set a “sector perform” rating for the company in a research note on Monday, March 2nd. Finally, Wedbush increased their target price on Apogee Therapeutics from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, March 3rd. 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $112.73.

Apogee Therapeutics Price Performance

NASDAQ APGE opened at $78.41 on Wednesday. The company has a market capitalization of $4.85 billion, a price-to-earnings ratio of -18.11 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 company’s fifty day moving average price is $81.51 and its two-hundred day moving average price is $74.53.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly earnings data on Monday, May 11th. The company reported ($1.06) earnings per share for the quarter, topping the consensus estimate of ($1.07) by $0.01. As a group, analysts anticipate that Apogee Therapeutics Inc. will post -4.44 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.