HighVista Strategies LLC Grows Position in Apogee Therapeutics Inc. $APGE

HighVista Strategies LLC increased its position in Apogee Therapeutics Inc. (NASDAQ:APGE) by 137.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 107,107 shares of the company’s stock after buying an additional 62,055 shares during the quarter. Apogee Therapeutics accounts for approximately 1.0% of HighVista Strategies LLC’s holdings, making the stock its 24th biggest holding. HighVista Strategies LLC owned about 0.23% of Apogee Therapeutics worth $4,255,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of APGE. Exane Asset Management bought a new position in shares of Apogee Therapeutics during the third quarter valued at about $2,048,000. Rafferty Asset Management LLC grew its stake in shares of Apogee Therapeutics by 55.9% in the third quarter. Rafferty Asset Management LLC now owns 65,796 shares of the company’s stock worth $2,614,000 after purchasing an additional 23,585 shares during the last quarter. SG Americas Securities LLC purchased a new position in Apogee Therapeutics during the 3rd quarter valued at about $5,333,000. Candriam S.C.A. purchased a new position in Apogee Therapeutics during the 3rd quarter valued at about $5,009,000. Finally, Prudential Financial Inc. raised its position in Apogee Therapeutics by 176.4% during the 2nd quarter. Prudential Financial Inc. now owns 68,845 shares of the company’s stock valued at $2,990,000 after purchasing an additional 43,940 shares during the last quarter. Hedge funds and other institutional investors own 79.04% of the company’s stock.

Apogee Therapeutics Price Performance

NASDAQ:APGE opened at $71.90 on Monday. Apogee Therapeutics Inc. has a one year low of $26.20 and a one year high of $84.56. The firm has a market capitalization of $5.00 billion, a P/E ratio of -17.04 and a beta of 1.39. The company’s 50-day simple moving average is $72.21 and its 200 day simple moving average is $62.30.

Apogee Therapeutics (NASDAQ:APGE) last released its quarterly earnings data on Monday, March 2nd. The company reported ($1.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.05) by $0.02. On average, equities research analysts expect that Apogee Therapeutics Inc. will post -3.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Apogee Therapeutics news, insider Carl Dambkowski sold 18,700 shares of Apogee Therapeutics stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $77.84, for a total value of $1,455,608.00. Following the completion of the sale, the insider owned 212,523 shares of the company’s stock, valued at approximately $16,542,790.32. This trade represents a 8.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Fairmount Funds Management Llc sold 1,750,000 shares of Apogee Therapeutics stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $76.30, for a total value of $133,525,000.00. Following the completion of the sale, the director directly 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 position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,839,700 shares of company stock worth $140,118,083 in the last three months. Insiders own 42.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Jefferies Financial Group reiterated a “buy” rating and issued a $95.00 price objective on shares of Apogee Therapeutics in a report on Monday, February 2nd. Citigroup restated a “buy” rating on shares of Apogee Therapeutics in a report on Sunday, January 25th. UBS Group raised Apogee Therapeutics to a “strong-buy” rating in a research note on Wednesday, January 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Apogee Therapeutics in a report on Wednesday, January 21st. Finally, BTIG Research set a $137.00 price objective on shares of Apogee Therapeutics in a research report on Tuesday, January 6th. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Apogee Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $105.82.

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.