Legato Capital Management LLC Purchases Shares of 13,551 Apogee Therapeutics Inc. $APGE

Legato Capital Management LLC purchased a new stake in shares of Apogee Therapeutics Inc. (NASDAQ:APGE) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 13,551 shares of the company’s stock, valued at approximately $1,023,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. PSP Research LLC acquired a new position in Apogee Therapeutics during the fourth quarter valued at approximately $527,000. Handelsbanken Fonder AB lifted its position in Apogee Therapeutics by 49.4% during the fourth quarter. Handelsbanken Fonder AB now owns 12,700 shares of the company’s stock valued at $959,000 after buying an additional 4,200 shares in the last quarter. Profund Advisors LLC lifted its position in Apogee Therapeutics by 29.0% during the fourth quarter. Profund Advisors LLC now owns 18,276 shares of the company’s stock valued at $1,379,000 after buying an additional 4,105 shares in the last quarter. ProShare Advisors LLC lifted its position in Apogee Therapeutics by 30.7% during the fourth quarter. ProShare Advisors LLC now owns 9,464 shares of the company’s stock valued at $714,000 after buying an additional 2,221 shares in the last quarter. Finally, DNB Asset Management AS acquired a new position in Apogee Therapeutics during the fourth quarter valued at approximately $436,000. 79.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on APGE. Royal Bank Of Canada reduced their price target on shares of Apogee Therapeutics from $83.00 to $82.00 and set a “sector perform” rating on the stock in a research report on Monday, March 2nd. Wedbush lifted their price target on shares of Apogee Therapeutics from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, March 3rd. BTIG Research reiterated a “buy” rating and set a $137.00 price objective on shares of Apogee Therapeutics in a research note on Monday, March 23rd. Citigroup lifted their price objective on shares of Apogee Therapeutics from $95.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $95.00 price target on shares of Apogee Therapeutics in a report on Monday, February 2nd. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Apogee Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $112.73.

Apogee Therapeutics Stock Performance

Shares of NASDAQ:APGE opened at $81.16 on Tuesday. Apogee Therapeutics Inc. has a 12-month low of $34.34 and a 12-month high of $95.32. The company has a fifty day simple moving average of $82.06 and a 200 day simple moving average of $75.27. The firm has a market cap of $5.02 billion, a PE ratio of -18.74 and a beta of 0.69.

Apogee Therapeutics (NASDAQ:APGE) last released its earnings results on Monday, May 11th. The company reported ($1.06) earnings per share for the quarter, beating the consensus estimate of ($1.07) by $0.01. As a group, equities research analysts forecast that Apogee Therapeutics Inc. will post -4.48 EPS for the current fiscal year.

Insider Buying and Selling at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 5,500 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $84.14, for a total transaction of $462,770.00. Following the completion of the sale, the insider owned 207,023 shares in the company, valued at $17,418,915.22. The trade was a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Thomas Henderson sold 20,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $82.09, for a total transaction of $1,641,800.00. Following the sale, the chief executive officer owned 1,115,987 shares of the company’s stock, valued at approximately $91,611,372.83. The trade was a 1.76% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 76,500 shares of company stock valued at $6,109,220. 24.30% of the stock is owned by insiders.

Apogee Therapeutics 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.