SG Americas Securities LLC Takes Position in Apogee Therapeutics Inc. $APGE

SG Americas Securities LLC acquired a new stake in shares of Apogee Therapeutics Inc. (NASDAQ:APGE) in the third quarter, HoldingsChannel reports. The fund acquired 134,226 shares of the company’s stock, valued at approximately $5,333,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Adage Capital Partners GP L.L.C. increased its holdings in Apogee Therapeutics by 77.5% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,290,464 shares of the company’s stock valued at $56,045,000 after buying an additional 563,464 shares during the last quarter. Jefferies Financial Group Inc. grew its position in Apogee Therapeutics by 52.3% in the 2nd quarter. Jefferies Financial Group Inc. now owns 642,357 shares of the company’s stock worth $27,898,000 after purchasing an additional 220,561 shares during the last quarter. Frontier Capital Management Co. LLC increased its position in Apogee Therapeutics by 184.0% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 309,066 shares of the company’s stock valued at $13,423,000 after acquiring an additional 200,249 shares during the period. Millennium Management LLC increased its holdings in shares of Apogee Therapeutics by 100.0% during 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. Finally, Alliancebernstein L.P. increased its stake in Apogee Therapeutics by 8.4% during the 2nd quarter. Alliancebernstein L.P. now owns 1,388,149 shares of the company’s stock valued at $60,287,000 after buying an additional 107,199 shares during the period. Institutional investors own 79.04% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on APGE. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Apogee Therapeutics in a research note on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Apogee Therapeutics in a research note on Wednesday, October 8th. Mizuho began coverage on Apogee Therapeutics in a report on Tuesday, October 21st. They set an “outperform” rating and a $105.00 target price on the stock. Wall Street Zen downgraded shares of Apogee Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. Finally, Craig Hallum restated a “buy” rating and set a $116.00 price objective on shares of Apogee Therapeutics in a research report on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $104.27.

Insider Buying and Selling

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 40,000 shares of the business’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $75.01, for a total transaction of $3,000,400.00. Following the sale, the chief executive officer directly owned 1,232,987 shares of the company’s stock, valued at $92,486,354.87. The trade was a 3.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Carl Dambkowski sold 18,700 shares of the stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $77.84, for a total value of $1,455,608.00. Following the completion of the sale, the insider owned 212,523 shares of the company’s stock, valued at $16,542,790.32. The trade was a 8.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 120,385 shares of company stock valued at $8,635,238 in the last ninety days. Company insiders own 42.77% of the company’s stock.

Apogee Therapeutics Trading Up 0.7%

Shares of APGE opened at $77.99 on Friday. The business’s 50-day moving average price is $70.89 and its 200 day moving average price is $51.91. The stock has a market capitalization of $5.33 billion, a P/E ratio of -17.81 and a beta of 1.41. Apogee Therapeutics Inc. has a 1-year low of $26.20 and a 1-year high of $80.99.

Apogee Therapeutics (NASDAQ:APGE) last announced its earnings results on Monday, November 10th. The company reported ($1.11) EPS for the quarter, topping the consensus estimate of ($1.14) by $0.03. On average, research analysts predict that Apogee Therapeutics Inc. will post -3.09 earnings per share 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.