FNY Investment Advisers LLC Acquires Shares of 5,000 Apogee Therapeutics Inc. $APGE

FNY Investment Advisers LLC acquired a new position in Apogee Therapeutics Inc. (NASDAQ:APGE) in the second quarter, HoldingsChannel.com reports. The fund acquired 5,000 shares of the company’s stock, valued at approximately $663,000.

Other hedge funds have also modified their holdings of the company. Rockefeller Capital Management L.P. purchased a new position in shares of Apogee Therapeutics in the 4th quarter valued at about $25,000. Los Angeles Capital Management LLC acquired a new position in Apogee Therapeutics in the 4th quarter worth about $37,000. GAMMA Investing LLC boosted its position in Apogee Therapeutics by 40.5% during the second quarter. GAMMA Investing LLC now owns 309 shares of the company’s stock worth $41,000 after purchasing an additional 89 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Apogee Therapeutics by 61.7% during the first quarter. EverSource Wealth Advisors LLC now owns 645 shares of the company’s stock worth $54,000 after purchasing an additional 246 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Apogee Therapeutics in the third quarter valued at approximately $96,000. 79.04% of the stock is owned by hedge funds and other institutional investors.

Apogee Therapeutics Trading Up 0.2%

NASDAQ:APGE opened at $134.49 on Friday. The company has a market cap of $8.32 billion, a P/E ratio of -31.06 and a beta of 0.34. Apogee Therapeutics Inc. has a twelve month low of $34.34 and a twelve month high of $134.58. The company’s 50-day moving average price is $118.30 and its 200-day moving average price is $91.58.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly earnings data 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, analysts expect that Apogee Therapeutics Inc. will post -4.45 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on APGE shares. Deutsche Bank Aktiengesellschaft cut Apogee Therapeutics from a “buy” rating to a “hold” rating and boosted their price objective for the company from $116.00 to $135.00 in a research report on Monday, June 22nd. UBS Group lowered Apogee Therapeutics from a “buy” rating to a “neutral” rating and increased their target price for the company from $100.00 to $135.11 in a research report on Tuesday, June 23rd. The Goldman Sachs Group set a $89.00 price target on shares of Apogee Therapeutics in a research note on Thursday, May 28th. Mizuho reissued a “neutral” rating and issued a $135.00 price target (up from $110.00) on shares of Apogee Therapeutics in a report on Wednesday, June 24th. Finally, Wedbush lowered shares of 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 equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $121.25.

Insider Activity at Apogee Therapeutics

In other news, CEO Michael Thomas Henderson sold 80,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 1,015,987 shares in the company, valued at $134,658,916.98. The trade was a 7.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 company’s stock in a transaction that occurred 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 completion of the sale, the insider owned 179,248 shares of the company’s stock, valued at $23,768,284.80. This trade represents a 12.84% decrease in their ownership of the stock. 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 90 days, insiders have sold 177,400 shares of company stock worth $21,248,815. Insiders own 24.30% of the company’s stock.

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.