Nicholas Investment Partners LP Takes $8.52 Million Position in Apogee Therapeutics Inc. $APGE

Nicholas Investment Partners LP bought a new stake in Apogee Therapeutics Inc. (NASDAQ:APGE) in the 4th quarter, Holdings Channel.com reports. The fund bought 112,924 shares of the company’s stock, valued at approximately $8,524,000.

Other large investors have also recently added to or reduced their stakes in the company. ANTIPODES PARTNERS Ltd lifted its position in Apogee Therapeutics by 41.2% during the third quarter. ANTIPODES PARTNERS Ltd now owns 843 shares of the company’s stock worth $33,000 after buying an additional 246 shares during the period. Los Angeles Capital Management LLC purchased a new position in Apogee Therapeutics during the fourth quarter worth about $37,000. Quantbot Technologies LP purchased a new position in Apogee Therapeutics during the third quarter worth about $96,000. BNP Paribas Financial Markets lifted its position in Apogee Therapeutics by 34.7% during the second quarter. BNP Paribas Financial Markets now owns 3,649 shares of the company’s stock worth $158,000 after buying an additional 941 shares during the period. Finally, Ensign Peak Advisors Inc purchased a new position in Apogee Therapeutics during the fourth quarter worth about $170,000. 79.04% of the stock is currently owned by hedge funds and other institutional investors.

Apogee Therapeutics Price Performance

Shares of NASDAQ:APGE opened at $88.33 on Friday. The firm has a market capitalization of $5.47 billion, a PE ratio of -20.40 and a beta of 0.62. The business has a 50-day moving average of $84.47 and a two-hundred day moving average of $77.33. Apogee Therapeutics Inc. has a 12 month low of $34.34 and a 12 month high of $95.32.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly earnings results on Monday, May 11th. The company reported ($1.06) EPS for the quarter, topping the consensus estimate of ($1.07) by $0.01. As a group, research analysts anticipate that Apogee Therapeutics Inc. will post -4.45 earnings per share for the current year.

Insider Activity

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 20,000 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $83.38, for a total transaction of $1,667,600.00. Following the completion of the sale, the chief executive officer directly owned 1,095,987 shares in the company, valued at $91,383,396.06. This represents a 1.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Carl Dambkowski sold 5,500 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $78.71, for a total value of $432,905.00. Following the sale, the insider owned 205,648 shares of the company’s stock, valued at $16,186,554.08. This represents a 2.60% 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 76,500 shares of company stock valued at $6,323,295 over the last 90 days. 24.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on APGE shares. Canaccord Genuity Group increased their target price on Apogee Therapeutics from $89.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Truist Financial reduced their target price on Apogee Therapeutics from $83.00 to $81.00 and set a “hold” rating on the stock in a research report on Wednesday, May 27th. The Goldman Sachs Group set a $89.00 target price on Apogee Therapeutics in a research report on Thursday, May 28th. Citigroup increased their target price on Apogee Therapeutics from $95.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Finally, Guggenheim increased their target price on Apogee Therapeutics from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Apogee Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $114.56.

Apogee Therapeutics 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.