Jupiter Topco LLC Purchases Shares of 1,193,626 Apogee Therapeutics Inc. $APGE

Jupiter Topco LLC purchased a new stake in Apogee Therapeutics Inc. (NASDAQ:APGE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,193,626 shares of the company’s stock, valued at approximately $158,402,000. Jupiter Topco LLC owned 1.92% of Apogee Therapeutics as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of APGE. BlackRock Inc. acquired a new position in Apogee Therapeutics in the 2nd quarter valued at $730,948,000. Wellington Management Group LLP lifted its position in Apogee Therapeutics by 0.5% during 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 during the last quarter. Vanguard Group Inc. boosted its holdings in Apogee Therapeutics by 27.3% during the fourth quarter. Vanguard Group Inc. now owns 2,857,824 shares of the company’s stock valued at $215,709,000 after acquiring an additional 612,193 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in Apogee Therapeutics by 189,522.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,732,456 shares of the company’s stock valued at $206,246,000 after acquiring an additional 2,731,015 shares during the period. Finally, Janus Henderson Group PLC grew its position in shares of Apogee Therapeutics by 14.4% in 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 during the last quarter. 79.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

APGE has been the subject of several research analyst reports. TD Cowen cut Apogee Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Apogee Therapeutics in a report on Friday, July 17th. The Goldman Sachs Group set a $89.00 price target on Apogee Therapeutics in a research report on Thursday, May 28th. Citigroup lowered Apogee Therapeutics from a “buy” rating to a “neutral” rating and upped their price target for the stock from $125.00 to $135.00 in a report on Tuesday, June 23rd. Finally, Mizuho reissued a “neutral” rating and issued a $135.00 price objective (up from $110.00) on shares of Apogee Therapeutics in a research report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $124.43.

Insider Buying and Selling at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 26,400 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $132.60, for a total value of $3,500,640.00. Following the sale, the insider owned 179,248 shares of the company’s stock, valued at $23,768,284.80. The trade was a 12.84% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Thomas Henderson sold 80,000 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $132.54, for a total transaction of $10,603,200.00. Following the completion of the sale, 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 position. 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 ninety days, insiders sold 162,900 shares of company stock valued at $20,344,950. 24.30% of the stock is owned by company insiders.

Apogee Therapeutics Stock Up 0.1%

Shares of APGE opened at $134.95 on Thursday. Apogee Therapeutics Inc. has a 12-month low of $35.39 and a 12-month high of $134.99. The firm has a market capitalization of $8.39 billion, a price-to-earnings ratio of -31.09 and a beta of 0.34. The stock’s 50-day moving average price is $132.21 and its 200 day moving average price is $97.78.

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

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.