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

Man Group plc acquired a new position in Apogee Therapeutics Inc. (NASDAQ:APGE) in the 2nd quarter, Holdings Channel reports. The firm acquired 397,000 shares of the company’s stock, valued at approximately $52,694,000.

Several other large investors have also bought and sold shares of APGE. BlackRock Inc. purchased a new position in shares of Apogee Therapeutics during the 2nd quarter worth approximately $730,948,000. Wellington Management Group LLP raised its position in shares of Apogee Therapeutics by 0.5% in the 4th quarter. Wellington Management Group LLP now owns 4,746,585 shares of the company’s stock worth $358,272,000 after acquiring an additional 22,884 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Apogee Therapeutics by 27.3% in the 4th 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 during the period. T. Rowe Price Investment Management Inc. lifted its stake in shares of Apogee Therapeutics by 189,522.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,732,456 shares of the company’s stock valued at $206,246,000 after purchasing an additional 2,731,015 shares during the period. Finally, Janus Henderson Group PLC boosted its position in shares of Apogee Therapeutics by 14.4% during the first quarter. Janus Henderson Group PLC now owns 2,360,596 shares of the company’s stock valued at $198,809,000 after purchasing an additional 297,992 shares in the last quarter. 79.04% of the stock is owned by institutional investors.

Analysts Set New Price Targets

APGE has been the topic of several recent research reports. Stifel Nicolaus reaffirmed a “hold” rating and issued a $135.00 price target (up from $133.00) on shares of Apogee Therapeutics in a research note on Wednesday, June 24th. Guggenheim lowered Apogee Therapeutics from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 23rd. Craig Hallum set a $135.11 target price on shares of Apogee Therapeutics and gave the stock a “hold” rating in a research report on Monday, June 22nd. Truist Financial increased their price target on shares of Apogee Therapeutics from $81.00 to $135.00 and gave the stock a “hold” rating in a research note on Thursday, August 13th. Finally, Rothschild & Co Redburn began coverage on shares of Apogee Therapeutics in a research report on Friday, May 1st. They set a “buy” rating and a $140.00 price target for the company. One investment 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $124.43.

Insider Buying and Selling at Apogee Therapeutics

In other news, CEO Michael Thomas Henderson sold 80,000 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $132.54, for a total transaction of $10,603,200.00. Following the completion of the transaction, the chief executive officer directly owned 1,015,987 shares in the company, valued at $134,658,916.98. This trade represents a 7.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Carl Dambkowski sold 26,400 shares of Apogee Therapeutics stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $132.60, for a total value of $3,500,640.00. Following the completion of the transaction, the insider directly owned 179,248 shares of the company’s stock, valued at approximately $23,768,284.80. This represents a 12.84% 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. Insiders have sold 162,900 shares of company stock valued at $20,344,950 over the last 90 days. Corporate insiders own 24.30% of the company’s stock.

Apogee Therapeutics Stock Up 0.0%

Apogee Therapeutics stock opened at $134.85 on Wednesday. Apogee Therapeutics Inc. has a twelve month low of $35.39 and a twelve month high of $134.88. The company has a market capitalization of $8.39 billion, a P/E ratio of -31.07 and a beta of 0.34. The stock’s 50 day moving average is $131.28 and its 200 day moving average is $97.27.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly earnings data 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). As a group, equities analysts expect that Apogee Therapeutics Inc. will post -4.47 EPS for the current year.

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.