Quantbot Technologies LP Purchases New Stake in Apogee Therapeutics Inc. $APGE

Quantbot Technologies LP purchased a new stake in shares of Apogee Therapeutics Inc. (NASDAQ:APGE) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 6,302 shares of the company’s stock, valued at approximately $836,000.

Several other institutional investors have also recently bought and sold shares of APGE. GAMMA Investing LLC grew its holdings in shares of Apogee Therapeutics by 40.5% during the second quarter. GAMMA Investing LLC now owns 309 shares of the company’s stock valued at $41,000 after buying an additional 89 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Apogee Therapeutics by 2.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 7,151 shares of the company’s stock worth $540,000 after acquiring an additional 152 shares during the last quarter. Seven Fleet Capital Management LP raised its holdings in shares of Apogee Therapeutics by 9.4% in the 1st quarter. Seven Fleet Capital Management LP now owns 1,969 shares of the company’s stock worth $166,000 after acquiring an additional 169 shares during the last quarter. Stifel Financial Corp lifted its position in Apogee Therapeutics by 3.5% in the 4th quarter. Stifel Financial Corp now owns 5,214 shares of the company’s stock valued at $394,000 after acquiring an additional 175 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Apogee Therapeutics by 61.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 645 shares of the company’s stock valued at $54,000 after acquiring an additional 246 shares in the last quarter. Institutional investors and hedge funds own 79.04% of the company’s stock.

Apogee Therapeutics Stock Performance

Shares of APGE stock opened at $134.95 on Thursday. The company has a market capitalization of $8.39 billion, a price-to-earnings ratio of -31.09 and a beta of 0.34. Apogee Therapeutics Inc. has a 52-week low of $35.39 and a 52-week high of $134.99. The company has a 50-day simple moving average of $132.21 and a two-hundred day simple moving average of $97.78.

Apogee Therapeutics (NASDAQ:APGE) last posted its earnings results on Monday, August 10th. The company reported ($1.14) EPS for the quarter, missing the consensus estimate of ($1.07) by ($0.07). On average, sell-side analysts forecast that Apogee Therapeutics Inc. will post -4.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on APGE. Royal Bank Of Canada boosted their price objective on Apogee Therapeutics from $82.00 to $97.00 and gave the stock a “sector perform” rating in a report on Monday, June 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Apogee Therapeutics in a report on Friday, July 17th. Deutsche Bank Aktiengesellschaft cut Apogee Therapeutics from a “buy” rating to a “hold” rating and lifted their target price for the company from $116.00 to $135.00 in a research report on Monday, June 22nd. Stifel Nicolaus reiterated a “hold” rating and set a $135.00 price target (up from $133.00) on shares of Apogee Therapeutics in a report on Wednesday, June 24th. Finally, Guggenheim lowered Apogee Therapeutics from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Apogee Therapeutics presently has a consensus rating of “Hold” and an average target price of $124.43.

Insider Buying and Selling

In related news, CEO Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $133.63, for a total transaction of $2,672,600.00. Following the sale, the chief executive officer directly owned 995,987 shares in the company, valued at approximately $133,093,742.81. This trade represents a 1.97% 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, insider Carl Dambkowski sold 5,500 shares of the business’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $134.17, for a total value of $737,935.00. Following the completion of the transaction, the insider directly owned 168,498 shares in the company, valued at approximately $22,607,376.66. This represents a 3.16% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 162,900 shares of company stock valued at $20,344,950 over the last ninety days. 24.30% of the stock is currently owned by company insiders.

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.