Apogee Therapeutics (NASDAQ:APGE) Director Fairmount Funds Management Llc Sells 1,750,000 Shares of Stock

Apogee Therapeutics Inc. (NASDAQ:APGE) Director Fairmount Funds Management Llc sold 1,750,000 shares of the business’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $76.30, for a total transaction of $133,525,000.00. Following the transaction, the director directly owned 298,647 shares in the company, valued at approximately $22,786,766.10. The trade was a 85.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Apogee Therapeutics Price Performance

Apogee Therapeutics stock opened at $79.86 on Friday. Apogee Therapeutics Inc. has a 12-month low of $26.20 and a 12-month high of $84.56. The company has a market capitalization of $5.46 billion, a price-to-earnings ratio of -18.23 and a beta of 1.41. The firm’s fifty day moving average price is $75.01 and its 200 day moving average price is $54.10.

Apogee Therapeutics (NASDAQ:APGE) last announced its earnings results on Monday, November 10th. The company reported ($1.11) earnings per share for the quarter, beating the consensus estimate of ($1.14) by $0.03. Analysts forecast that Apogee Therapeutics Inc. will post -3.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Craig Hallum reiterated a “buy” rating and set a $116.00 target price on shares of Apogee Therapeutics in a research note on Wednesday, January 7th. Stifel Nicolaus set a $133.00 price objective on shares of Apogee Therapeutics in a research note on Tuesday, January 6th. Wall Street Zen downgraded shares of Apogee Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, December 6th. Stephens started coverage on shares of Apogee Therapeutics in a research note on Tuesday, December 16th. They issued an “overweight” rating and a $95.00 target price on the stock. Finally, BTIG Research set a $137.00 price target on Apogee Therapeutics in a research note on Tuesday, January 6th. Three investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $105.45.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Banque Pictet & Cie SA bought a new stake in shares of Apogee Therapeutics during the 4th quarter valued at about $3,155,000. Allspring Global Investments Holdings LLC acquired a new position in Apogee Therapeutics in the fourth quarter valued at approximately $412,000. JPMorgan Chase & Co. grew its holdings in shares of Apogee Therapeutics by 57.9% during the third quarter. JPMorgan Chase & Co. now owns 1,137,731 shares of the company’s stock valued at $45,202,000 after purchasing an additional 417,161 shares during the last quarter. Verition Fund Management LLC acquired a new stake in shares of Apogee Therapeutics during the 3rd quarter worth approximately $1,968,000. Finally, Vestal Point Capital LP acquired a new stake in shares of Apogee Therapeutics during the 3rd quarter worth approximately $16,885,000. 79.04% of the stock is currently owned by institutional investors.

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.