Tidal Investments LLC Takes Position in Apogee Therapeutics Inc. $APGE

Tidal Investments LLC acquired a new position in Apogee Therapeutics Inc. (NASDAQ:APGE) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 35,113 shares of the company’s stock, valued at approximately $4,661,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. California State Teachers Retirement System lifted its stake in Apogee Therapeutics by 15,025.8% during the second quarter. California State Teachers Retirement System now owns 5,772,162 shares of the company’s stock valued at $766,139,000 after purchasing an additional 5,734,001 shares during the last quarter. BlackRock Inc. acquired a new position in Apogee Therapeutics in the second quarter worth approximately $730,948,000. Wellington Management Group LLP grew its position in Apogee Therapeutics by 0.5% in the fourth quarter. Wellington Management Group LLP now owns 4,746,585 shares of the company’s stock worth $358,272,000 after buying an additional 22,884 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Apogee Therapeutics by 189,522.2% in 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 buying an additional 2,731,015 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings 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 buying an additional 297,992 shares in the last quarter. 79.04% of the stock is currently owned by institutional investors.

Apogee Therapeutics Price Performance

Shares of NASDAQ:APGE opened at $135.07 on Monday. The company’s fifty day moving average is $134.46 and its two-hundred day moving average is $103.51. Apogee Therapeutics Inc. has a 12-month low of $35.39 and a 12-month high of $135.09. The company has a market cap of $8.40 billion, a P/E ratio of -31.12 and a beta of 0.33.

Apogee Therapeutics (NASDAQ:APGE) last released its earnings results 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). Equities research analysts anticipate that Apogee Therapeutics Inc. will post -4.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Craig Hallum set a $135.11 price objective on Apogee Therapeutics and gave the stock a “hold” rating in a research note on Monday, June 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Apogee Therapeutics in a research report on Friday, July 17th. Deutsche Bank Aktiengesellschaft downgraded Apogee Therapeutics from a “buy” rating to a “hold” rating and upped their target price for the company from $116.00 to $135.00 in a report on Monday, June 22nd. TD Cowen cut Apogee Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $135.00 price objective (up from $133.00) on shares of Apogee Therapeutics in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $126.77.

Insider Buying and Selling at Apogee Therapeutics

In related news, CEO Michael Henderson sold 80,000 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $132.54, for a total value of $10,603,200.00. Following the completion of the sale, the chief executive officer directly owned 1,015,987 shares of the company’s stock, valued at approximately $134,658,916.98. This represents a 7.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Carl Dambkowski sold 26,400 shares of the firm’s 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 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 137,400 shares of company stock worth $18,244,445 over the last three months. 24.30% of the stock is owned by insiders.

Apogee Therapeutics Company Profile

Apogee Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing next-generation biologic medicines for inflammatory and immunologic diseases. The company’s approach centers on designing therapies with extended half-lives and other potentially differentiated properties intended to improve treatment durability and patient convenience.

Apogee’s pipeline includes APG777, an extended-half-life monoclonal antibody that targets interleukin-13 (IL-13), a cytokine involved in allergic inflammation.