Boxer Capital Management LLC Takes $1.99 Million Position in Apogee Therapeutics Inc. $APGE

Boxer Capital Management LLC purchased a new stake in Apogee Therapeutics Inc. (NASDAQ:APGE) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 50,000 shares of the company’s stock, valued at approximately $1,986,000. Apogee Therapeutics makes up 0.6% of Boxer Capital Management LLC’s investment portfolio, making the stock its 23rd largest holding.

A number of other hedge funds also recently bought and sold shares of the business. Aquatic Capital Management LLC purchased a new position in Apogee Therapeutics during the third quarter worth approximately $1,563,000. Alliancebernstein L.P. increased its position in shares of Apogee Therapeutics by 2.2% in the third quarter. Alliancebernstein L.P. now owns 1,419,132 shares of the company’s stock valued at $56,382,000 after buying an additional 30,983 shares in the last quarter. SummitTX Capital L.P. acquired a new position in shares of Apogee Therapeutics during the 3rd quarter worth approximately $1,057,000. Two Sigma Investments LP raised its stake in shares of Apogee Therapeutics by 5.8% during the 3rd quarter. Two Sigma Investments LP now owns 122,375 shares of the company’s stock worth $4,862,000 after buying an additional 6,681 shares during the period. Finally, Wellington Management Group LLP lifted its position in shares of Apogee Therapeutics by 24.1% during the 3rd quarter. Wellington Management Group LLP now owns 4,723,701 shares of the company’s stock valued at $187,673,000 after buying an additional 917,991 shares in the last quarter. Hedge funds and other institutional investors own 79.04% of the company’s stock.

Insider Buying and Selling

In other Apogee Therapeutics news, Director Fairmount Funds Management Llc sold 1,750,000 shares of the business’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $76.30, for a total transaction of $133,525,000.00. Following the transaction, the director owned 298,647 shares of the company’s stock, valued at approximately $22,786,766.10. The trade was a 85.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael Thomas Henderson sold 20,000 shares of the company’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $74.78, for a total value of $1,495,600.00. Following the completion of the sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 1,839,700 shares of company stock worth $140,118,083. 42.77% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on APGE shares. Wolfe Research initiated coverage on shares of Apogee Therapeutics in a report on Wednesday, January 7th. They issued a “peer perform” rating for the company. Craig Hallum reaffirmed a “buy” rating and set a $116.00 price objective on shares of Apogee Therapeutics in a report on Wednesday, January 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Apogee Therapeutics in a research report on Tuesday, December 9th. They issued a “buy” rating and a $103.00 target price on the stock. Royal Bank Of Canada reduced their price target on shares of Apogee Therapeutics from $83.00 to $82.00 and set a “sector perform” rating for the company in a research report on Monday, March 2nd. Finally, BTIG Research set a $137.00 price target on shares of Apogee Therapeutics in a research note on Tuesday, January 6th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Apogee Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $105.82.

Apogee Therapeutics Trading Down 2.2%

APGE stock opened at $71.90 on Friday. The firm has a 50-day moving average of $72.21 and a two-hundred day moving average of $62.13. Apogee Therapeutics Inc. has a 12 month low of $26.20 and a 12 month high of $84.56. The company has a market cap of $5.00 billion, a price-to-earnings ratio of -17.04 and a beta of 1.39.

Apogee Therapeutics (NASDAQ:APGE) last issued its earnings results on Monday, March 2nd. The company reported ($1.03) earnings per share for the quarter, topping the consensus estimate of ($1.05) by $0.02. As a group, equities analysts forecast that Apogee Therapeutics Inc. will post -3.09 earnings per share 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.