Glazer Capital LLC Makes New Investment in Apogee Therapeutics Inc. $APGE

Glazer Capital LLC bought a new stake in shares of Apogee Therapeutics Inc. (NASDAQ:APGE) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,641,042 shares of the company’s stock, valued at approximately $217,816,000. Apogee Therapeutics accounts for approximately 5.4% of Glazer Capital LLC’s portfolio, making the stock its 3rd biggest holding. Glazer Capital LLC owned about 2.64% of Apogee Therapeutics as of its most recent SEC filing.

Several other large investors also recently modified their holdings of APGE. Rockefeller Capital Management L.P. acquired a new position in Apogee Therapeutics in the fourth quarter valued at about $25,000. Los Angeles Capital Management LLC acquired a new stake in Apogee Therapeutics during the fourth quarter worth about $37,000. GAMMA Investing LLC increased its holdings in Apogee Therapeutics by 40.5% in the 2nd quarter. GAMMA Investing LLC now owns 309 shares of the company’s stock valued at $41,000 after buying an additional 89 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Apogee Therapeutics by 61.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 645 shares of the company’s stock valued at $54,000 after buying an additional 246 shares in the last quarter. Finally, Longfellow Investment Management Co. LLC acquired a new position in shares of Apogee Therapeutics in the 2nd quarter valued at approximately $81,000. 79.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on APGE shares. Craig Hallum set a $135.11 price target on shares of Apogee Therapeutics and gave the stock a “hold” rating in a research report on Monday, June 22nd. Rothschild & Co Redburn assumed coverage on Apogee Therapeutics in a research note on Friday, May 1st. They issued a “buy” rating and a $140.00 price target on the stock. Deutsche Bank Aktiengesellschaft cut Apogee Therapeutics from a “buy” rating to a “hold” rating and boosted their price target for the stock from $116.00 to $135.00 in a report on Monday, June 22nd. BTIG Research cut Apogee Therapeutics from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 12th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $135.00 target price (up from $133.00) on shares of Apogee Therapeutics in a research note on Wednesday, June 24th. 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 company’s stock. Based on data from MarketBeat.com, Apogee Therapeutics currently has a consensus rating of “Hold” and an average price target of $126.77.

Insider Buying and Selling at Apogee Therapeutics

In related 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 stock was 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 approximately $134,658,916.98. This represents a 7.30% decrease in their position. The SEC filing for this sale provides additional information. 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 in the last ninety days. Insiders own 24.30% of the company’s stock.

Apogee Therapeutics Trading Up 0.0%

Shares of APGE stock opened at $134.96 on Friday. The firm has a market capitalization of $8.39 billion, a price-to-earnings ratio of -31.10 and a beta of 0.34. The business’s 50-day moving average price is $133.10 and its 200-day moving average price is $98.29. Apogee Therapeutics Inc. has a 12 month low of $35.39 and a 12 month high of $134.99.

Apogee Therapeutics (NASDAQ:APGE) last issued 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). On average, sell-side analysts predict that Apogee Therapeutics Inc. will post -4.47 earnings per share for the current fiscal 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.