Vanguard Group Inc. Has $215.71 Million Stake in Apogee Therapeutics Inc. $APGE

Vanguard Group Inc. boosted its holdings in Apogee Therapeutics Inc. (NASDAQ:APGE) by 27.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,857,824 shares of the company’s stock after acquiring an additional 612,193 shares during the period. Vanguard Group Inc.’s holdings in Apogee Therapeutics were worth $215,709,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Wellington Management Group LLP raised its stake in Apogee Therapeutics by 24.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,723,701 shares of the company’s stock worth $187,673,000 after purchasing an additional 917,991 shares in the last quarter. Paradigm Biocapital Advisors LP raised its holdings in Apogee Therapeutics by 58.7% in the 3rd quarter. Paradigm Biocapital Advisors LP now owns 1,521,757 shares of the company’s stock valued at $60,459,000 after acquiring an additional 563,127 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Apogee Therapeutics by 2.2% in the 3rd quarter. Alliancebernstein L.P. now owns 1,419,132 shares of the company’s stock valued at $56,382,000 after acquiring an additional 30,983 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in Apogee Therapeutics by 77.5% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,290,464 shares of the company’s stock valued at $56,045,000 after acquiring an additional 563,464 shares in the last quarter. Finally, Perceptive Advisors LLC raised its holdings in Apogee Therapeutics by 5.3% in the 2nd quarter. Perceptive Advisors LLC now owns 1,182,148 shares of the company’s stock valued at $51,341,000 after acquiring an additional 59,381 shares in the last quarter. Institutional investors and hedge funds own 79.04% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Guggenheim lifted their price objective on Apogee Therapeutics from $130.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Truist Financial assumed coverage on Apogee Therapeutics in a report on Tuesday, March 17th. They issued a “hold” rating and a $83.00 price objective for the company. Citigroup lifted their price objective on Apogee Therapeutics from $95.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. BTIG Research restated a “buy” rating and issued a $137.00 target price on shares of Apogee Therapeutics in a research report on Monday, March 23rd. Finally, Canaccord Genuity Group boosted their target price 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 analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $112.73.

Insiders Place Their Bets

In other news, CEO Michael Thomas Henderson sold 20,000 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $74.78, for a total transaction of $1,495,600.00. Following the completion of the transaction, the chief executive officer owned 1,152,987 shares of the company’s stock, valued at approximately $86,220,367.86. The trade was a 1.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Carl Dambkowski sold 5,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $84.14, for a total transaction of $462,770.00. Following the transaction, the insider owned 207,023 shares of the company’s stock, valued at approximately $17,418,915.22. This represents a 2.59% decrease in their ownership of the stock. 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 a total of 76,500 shares of company stock valued at $5,734,420 in the last three months. 24.30% of the stock is owned by insiders.

Apogee Therapeutics Trading Up 1.5%

Shares of NASDAQ:APGE opened at $83.03 on Friday. Apogee Therapeutics Inc. has a 12 month low of $34.34 and a 12 month high of $95.32. The stock has a market capitalization of $5.14 billion, a PE ratio of -19.68 and a beta of 0.69. The firm has a 50 day moving average of $79.69 and a 200-day moving average of $73.01.

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

Apogee Therapeutics Company 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.