Pictet Asset Management Holding SA Takes $23.62 Million Position in Apogee Therapeutics Inc. $APGE

Pictet Asset Management Holding SA bought a new stake in shares of Apogee Therapeutics Inc. (NASDAQ:APGE) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 312,883 shares of the company’s stock, valued at approximately $23,616,000. Pictet Asset Management Holding SA owned about 0.46% of Apogee Therapeutics at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. ANTIPODES PARTNERS Ltd boosted its stake in shares of Apogee Therapeutics by 41.2% in the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 843 shares of the company’s stock worth $33,000 after buying an additional 246 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Apogee Therapeutics during the third quarter valued at $96,000. Mirae Asset Global Investments Co. Ltd. increased its position in Apogee Therapeutics by 49.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,665 shares of the company’s stock valued at $201,000 after acquiring an additional 882 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Apogee Therapeutics by 34.7% in the second quarter. BNP Paribas Financial Markets now owns 3,649 shares of the company’s stock valued at $158,000 after acquiring an additional 941 shares during the period. Finally, E Fund Management Co. Ltd. bought a new position in Apogee Therapeutics in the second quarter valued at about $204,000. Institutional investors own 79.04% of the company’s stock.

Apogee Therapeutics Trading Up 1.0%

NASDAQ APGE opened at $82.89 on Friday. The stock’s 50 day moving average is $78.89 and its 200 day moving average is $72.14. Apogee Therapeutics Inc. has a 12 month low of $34.34 and a 12 month high of $95.32. The stock has a market cap of $5.13 billion, a PE ratio of -19.64 and a beta of 1.02.

Apogee Therapeutics (NASDAQ:APGE) last posted its earnings results on Monday, March 2nd. The company reported ($1.03) earnings per share for the quarter, beating the consensus estimate of ($1.05) by $0.02. On average, analysts forecast that Apogee Therapeutics Inc. will post -4.57 EPS for the current fiscal year.

Insider Activity at Apogee Therapeutics

In other news, CEO Michael Thomas Henderson sold 20,000 shares of the business’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $63.35, for a total transaction of $1,267,000.00. Following the completion of the sale, the chief executive officer directly owned 1,172,987 shares of the company’s stock, valued at approximately $74,308,726.45. The trade was a 1.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Carl Dambkowski sold 5,500 shares of the business’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $84.84, for a total transaction of $466,620.00. Following the completion of the sale, the insider directly owned 208,398 shares of the company’s stock, valued at approximately $17,680,486.32. This trade represents a 2.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 76,500 shares of company stock worth $5,633,495. Corporate insiders own 42.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on APGE shares. Mizuho raised their price objective on shares of Apogee Therapeutics from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, March 30th. Craig Hallum reaffirmed a “buy” rating and set a $116.00 target price on shares of Apogee Therapeutics in a report on Wednesday, January 7th. BTIG Research reiterated a “buy” rating and issued a $137.00 price target on shares of Apogee Therapeutics in a research report on Monday, March 23rd. Jefferies Financial Group reiterated a “buy” rating and set a $95.00 price target on shares of Apogee Therapeutics in a research note on Monday, February 2nd. Finally, Canaccord Genuity Group boosted their price objective on shares of Apogee Therapeutics from $89.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Apogee Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $110.79.

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.