76,030 Shares in Apogee Therapeutics Inc. $APGE Bought by WCM Investment Management LLC

WCM Investment Management LLC bought a new position in Apogee Therapeutics Inc. (NASDAQ:APGE) in the 1st quarter, according to its most recent disclosure with the SEC. The firm bought 76,030 shares of the company’s stock, valued at approximately $5,985,000. WCM Investment Management LLC owned 0.12% of Apogee Therapeutics at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. AlphaCentric Advisors LLC lifted its position in Apogee Therapeutics by 5.7% during the first quarter. AlphaCentric Advisors LLC now owns 11,369 shares of the company’s stock valued at $957,000 after buying an additional 618 shares during the period. KBC Group NV purchased a new position in Apogee Therapeutics during the first quarter valued at $3,185,000. Swiss National Bank raised its position in shares of Apogee Therapeutics by 20.2% in the 1st quarter. Swiss National Bank now owns 75,600 shares of the company’s stock worth $6,363,000 after purchasing an additional 12,700 shares during the last quarter. Jennison Associates LLC raised its holdings in Apogee Therapeutics by 1.1% in the first quarter. Jennison Associates LLC now owns 585,016 shares of the company’s stock worth $49,241,000 after buying an additional 6,389 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Apogee Therapeutics by 11.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,052 shares of the company’s stock worth $510,000 after acquiring an additional 617 shares during the last quarter. Hedge funds and other institutional investors own 79.04% of the company’s stock.

Insiders Place Their Bets

In other news, insider Carl Dambkowski sold 26,400 shares of the 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 owned 179,248 shares of the company’s stock, valued at approximately $23,768,284.80. This represents a 12.84% 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 80,000 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 1,015,987 shares in the company, valued at $134,658,916.98. This trade represents a 7.30% 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 182,900 shares of company stock worth $21,711,585 in the last quarter. Company insiders own 24.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on APGE. Craig Hallum set a $135.11 target price on shares of Apogee Therapeutics and gave the company a “hold” rating in a research note on Monday, June 22nd. Stifel Nicolaus restated a “hold” rating and set a $135.00 price target (up from $133.00) on shares of Apogee Therapeutics in a research note on Wednesday, June 24th. Mizuho restated a “neutral” rating and issued a $135.00 price objective (up from $110.00) on shares of Apogee Therapeutics in a research note on Wednesday, June 24th. Guggenheim lowered shares of Apogee Therapeutics from a “buy” rating to a “neutral” rating in a report on Tuesday, June 23rd. Finally, Canaccord Genuity Group lowered Apogee Therapeutics from a “buy” rating to a “hold” rating and increased their price target for the stock from $130.00 to $135.11 in a research note on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Apogee Therapeutics presently has an average rating of “Hold” and an average price target of $121.25.

Apogee Therapeutics Stock Performance

APGE stock opened at $134.15 on Tuesday. The firm has a fifty day moving average price of $104.47 and a 200 day moving average price of $86.46. Apogee Therapeutics Inc. has a fifty-two week low of $34.34 and a fifty-two week high of $134.32. The firm has a market cap of $8.30 billion, a PE ratio of -30.98 and a beta of 0.32.

Apogee Therapeutics (NASDAQ:APGE) last announced its earnings results on Monday, May 11th. The company reported ($1.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.07) by $0.01. On average, equities analysts predict that Apogee Therapeutics Inc. will post -4.45 EPS for the current year.

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.