5,000 Shares in Apogee Therapeutics Inc. $APGE Bought by FNY Investment Advisers LLC

FNY Investment Advisers LLC acquired a new stake in shares of Apogee Therapeutics Inc. (NASDAQ:APGE) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,000 shares of the company’s stock, valued at approximately $663,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its holdings in shares of Apogee Therapeutics by 0.5% in the 4th quarter. Wellington Management Group LLP now owns 4,746,585 shares of the company’s stock valued at $358,272,000 after buying an additional 22,884 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Apogee Therapeutics by 27.3% during the 4th quarter. Vanguard Group Inc. now owns 2,857,824 shares of the company’s stock worth $215,709,000 after acquiring an additional 612,193 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of Apogee Therapeutics by 189,522.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,732,456 shares of the company’s stock worth $206,246,000 after acquiring an additional 2,731,015 shares in the last quarter. Janus Henderson Group PLC lifted its position in Apogee Therapeutics by 14.4% during the first quarter. Janus Henderson Group PLC now owns 2,360,596 shares of the company’s stock valued at $198,809,000 after acquiring an additional 297,992 shares during the last quarter. Finally, Perceptive Advisors LLC lifted its position in Apogee Therapeutics by 72.4% during the fourth quarter. Perceptive Advisors LLC now owns 2,330,651 shares of the company’s stock valued at $175,918,000 after acquiring an additional 978,662 shares during the last quarter. Hedge funds and other institutional investors own 79.04% of the company’s stock.

Apogee Therapeutics Stock Performance

NASDAQ:APGE opened at $134.49 on Friday. The firm’s fifty day moving average is $118.30 and its two-hundred day moving average is $91.58. The firm has a market cap of $8.32 billion, a price-to-earnings ratio of -31.06 and a beta of 0.34. Apogee Therapeutics Inc. has a one year low of $34.34 and a one year high of $134.58.

Apogee Therapeutics (NASDAQ:APGE) last released its quarterly earnings data on Monday, May 11th. The company reported ($1.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.07) by $0.01. As a group, equities research analysts predict that Apogee Therapeutics Inc. will post -4.45 earnings per share for the current fiscal year.

Insider Activity

In other Apogee Therapeutics news, insider Carl Dambkowski sold 5,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $132.74, for a total value of $730,070.00. Following the completion of the transaction, the insider directly owned 177,873 shares of the company’s stock, valued at approximately $23,610,862.02. The trade was a 3.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 company’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $133.63, for a total value of $2,672,600.00. Following the completion of the sale, the chief executive officer owned 995,987 shares in the company, valued at approximately $133,093,742.81. This represents a 1.97% 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. Over the last ninety days, insiders have sold 177,400 shares of company stock worth $21,248,815. 24.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on APGE. Canaccord Genuity Group downgraded shares of Apogee Therapeutics from a “buy” rating to a “hold” rating and raised their target price for the company from $130.00 to $135.11 in a research note on Monday, June 22nd. Deutsche Bank Aktiengesellschaft downgraded Apogee Therapeutics from a “buy” rating to a “hold” rating and upped their price target for the stock from $116.00 to $135.00 in a research report on Monday, June 22nd. Royal Bank Of Canada increased their price objective on Apogee Therapeutics from $82.00 to $97.00 and gave the company a “sector perform” rating in a report on Monday, June 8th. Rothschild & Co Redburn started coverage on Apogee Therapeutics in a research report on Friday, May 1st. They issued a “buy” rating and a $140.00 price objective for the company. Finally, UBS Group downgraded Apogee Therapeutics from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $100.00 to $135.11 in a research note on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Apogee Therapeutics has a consensus rating of “Hold” and a consensus target price of $121.25.

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.