Groupe la Francaise Takes Position in Apogee Therapeutics Inc. $APGE

Groupe la Francaise purchased a new stake in Apogee Therapeutics Inc. (NASDAQ:APGE) during the second quarter, Holdings Channel reports. The institutional investor purchased 84,072 shares of the company’s stock, valued at approximately $11,159,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Apogee Therapeutics by 2.9% during the first 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 period. Millennium Management LLC grew its position 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 purchasing an additional 130,164 shares during the period. Creative Planning purchased a new stake in shares of Apogee Therapeutics during the second quarter worth about $392,000. Legal & General Group Plc increased its stake 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. raised its position in shares of Apogee Therapeutics by 10,570.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 21,768 shares of the company’s stock worth $945,000 after purchasing an additional 21,564 shares during the last quarter. Hedge funds and other institutional investors own 79.04% of the company’s stock.

Analyst Ratings Changes

APGE has been the topic of a number of research reports. Craig Hallum set a $135.11 price target on shares of Apogee Therapeutics and gave the company a “hold” rating in a research note on Monday, June 22nd. UBS Group lowered Apogee Therapeutics from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $100.00 to $135.11 in a research note on Tuesday, June 23rd. Canaccord Genuity Group cut Apogee Therapeutics from a “buy” rating to a “hold” rating and increased their target price for the company from $130.00 to $135.11 in a report on Monday, June 22nd. BTIG Research downgraded Apogee Therapeutics from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 12th. Finally, Guggenheim lowered Apogee Therapeutics from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $126.77.

Insiders Place Their Bets

In other Apogee Therapeutics news, CEO Michael Henderson sold 20,000 shares of Apogee Therapeutics stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $133.63, for a total value of $2,672,600.00. Following the completion of the transaction, the chief executive officer directly owned 995,987 shares of the company’s stock, valued at $133,093,742.81. The trade was a 1.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $134.17, for a total transaction of $737,935.00. Following the sale, the insider owned 168,498 shares in the company, valued at $22,607,376.66. This trade represents a 3.16% 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. Insiders sold 157,400 shares of company stock worth $19,912,045 in the last 90 days. Company insiders own 24.30% of the company’s stock.

Apogee Therapeutics Stock Performance

Shares of NASDAQ APGE opened at $135.07 on Monday. The stock has a market cap of $8.40 billion, a PE ratio of -31.12 and a beta of 0.33. Apogee Therapeutics Inc. has a 12-month low of $35.39 and a 12-month high of $135.09. The company has a 50-day moving average of $134.23 and a 200 day moving average of $101.20.

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