NINE MASTS CAPITAL Ltd Makes New $1.25 Million Investment in Apogee Therapeutics Inc. $APGE

NINE MASTS CAPITAL Ltd bought a new stake in Apogee Therapeutics Inc. (NASDAQ:APGE) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 9,400 shares of the company’s stock, valued at approximately $1,248,000.

Other large investors have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in 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 acquiring an additional 694 shares during the last quarter. Millennium Management LLC lifted its stake in Apogee Therapeutics by 100.0% in the 1st quarter. Millennium Management LLC now owns 260,335 shares of the company’s stock worth $9,726,000 after purchasing an additional 130,164 shares in the last quarter. Creative Planning bought a new stake in Apogee Therapeutics during the second quarter valued at $392,000. Legal & General Group Plc grew its holdings in shares of Apogee Therapeutics by 7.4% during the second quarter. Legal & General Group Plc now owns 27,689 shares of the company’s stock worth $1,203,000 after purchasing an additional 1,907 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Apogee Therapeutics by 10,570.6% in the 2nd 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. 79.04% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apogee Therapeutics

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 20,000 shares of the firm’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 transaction of $2,672,600.00. Following the completion of the transaction, the chief executive officer owned 995,987 shares of the company’s stock, valued at approximately $133,093,742.81. This trade represents a 1.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Carl Dambkowski sold 5,500 shares of the firm’s stock in a transaction on 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. The trade was a 3.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 162,900 shares of company stock worth $20,344,950. 24.30% of the stock is currently owned by company insiders.

Apogee Therapeutics Stock Up 0.0%

NASDAQ:APGE opened at $134.59 on Tuesday. The firm has a market capitalization of $8.37 billion, a P/E ratio of -31.01 and a beta of 0.34. Apogee Therapeutics Inc. has a 52 week low of $35.39 and a 52 week high of $134.88. The company has a fifty day moving average of $125.45 and a 200 day moving average of $94.43.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly earnings data on Monday, August 10th. The company reported ($1.14) EPS for the quarter, missing the consensus estimate of ($1.07) by ($0.07). As a group, analysts anticipate that Apogee Therapeutics Inc. will post -4.47 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. TD Cowen downgraded shares of Apogee Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Stifel Nicolaus reaffirmed a “hold” rating and set a $135.00 price target (up from $133.00) on shares of Apogee Therapeutics in a research note on Wednesday, June 24th. Royal Bank Of Canada upped their price objective on Apogee Therapeutics from $82.00 to $97.00 and gave the stock a “sector perform” rating in a report on Monday, June 8th. Craig Hallum set a $135.11 price objective on Apogee Therapeutics and gave the company a “hold” rating in a report on Monday, June 22nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Apogee Therapeutics in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $124.43.

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.