HBK Investments L P Purchases New Stake in Apogee Therapeutics Inc. $APGE

HBK Investments L P acquired a new position in shares of Apogee Therapeutics Inc. (NASDAQ:APGE) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 2,850,000 shares of the company’s stock, valued at approximately $378,280,000. Apogee Therapeutics accounts for 3.7% of HBK Investments L P’s portfolio, making the stock its 9th biggest holding.

A number of other large investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in Apogee Therapeutics in the 2nd quarter valued at about $730,948,000. Glazer Capital LLC acquired a new position in shares of Apogee Therapeutics in the 2nd quarter valued at approximately $217,816,000. Pentwater Capital Management LP bought a new stake in shares of Apogee Therapeutics during the 2nd quarter worth approximately $189,140,000. Jupiter Topco LLC bought a new stake in shares of Apogee Therapeutics during the 2nd quarter worth approximately $158,402,000. Finally, Bank of America Corp DE acquired a new stake in shares of Apogee Therapeutics during the 2nd quarter worth approximately $149,472,000. 79.04% of the stock is currently owned by institutional investors and hedge funds.

Apogee Therapeutics Price Performance

APGE stock remained flat at $135.07 during trading on Wednesday. The company’s 50 day simple moving average is $134.52 and its 200 day simple moving average is $104.41. The firm has a market capitalization of $8.40 billion, a P/E ratio of -31.12 and a beta of 0.33. Apogee Therapeutics Inc. has a 12 month low of $35.39 and a 12 month high of $135.09.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly earnings data on Monday, August 10th. The company reported ($1.14) EPS for the quarter, missing the consensus estimate of ($1.07) by ($0.07). Research analysts anticipate that Apogee Therapeutics Inc. will post -4.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

APGE has been the topic of a number of recent analyst reports. Guggenheim cut shares of Apogee Therapeutics from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 23rd. Mizuho restated a “neutral” rating and set a $135.00 target price (up from $110.00) on shares of Apogee Therapeutics in a research note on Wednesday, June 24th. Royal Bank Of Canada raised their target price on Apogee Therapeutics from $82.00 to $97.00 and gave the company a “sector perform” rating in a report on Monday, June 8th. The Goldman Sachs Group set a $89.00 price target on Apogee Therapeutics in a research note on Thursday, May 28th. Finally, Wedbush cut Apogee Therapeutics from an “outperform” rating to a “neutral” rating and set a $135.00 price target for the company. in a report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Apogee Therapeutics presently 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 firm’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 sale, the chief executive officer owned 1,015,987 shares of the company’s stock, valued at $134,658,916.98. This trade represents a 7.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 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 directly owned 179,248 shares in the company, valued at approximately $23,768,284.80. This trade represents a 12.84% 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 137,400 shares of company stock valued at $18,244,445 over the last quarter. Company insiders own 24.30% of the company’s stock.

Apogee Therapeutics 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.