Polar Capital Holdings Plc Lowers Stock Position in Apogee Therapeutics Inc. $APGE

Polar Capital Holdings Plc reduced its position in Apogee Therapeutics Inc. (NASDAQ:APGE) by 3.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 503,539 shares of the company’s stock after selling 20,555 shares during the quarter. Polar Capital Holdings Plc owned about 0.74% of Apogee Therapeutics worth $38,007,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in Apogee Therapeutics by 24.1% during the third quarter. Wellington Management Group LLP now owns 4,723,701 shares of the company’s stock worth $187,673,000 after acquiring an additional 917,991 shares during the last quarter. Vanguard Group Inc. increased its position in Apogee Therapeutics by 27.3% during the 4th quarter. Vanguard Group Inc. now owns 2,857,824 shares of the company’s stock worth $215,709,000 after purchasing an additional 612,193 shares in the last quarter. State Street Corp raised its holdings in Apogee Therapeutics by 2.1% in the fourth quarter. State Street Corp now owns 1,690,186 shares of the company’s stock valued at $127,575,000 after buying an additional 34,638 shares during the period. Paradigm Biocapital Advisors LP lifted its position in Apogee Therapeutics by 58.7% during the third quarter. Paradigm Biocapital Advisors LP now owns 1,521,757 shares of the company’s stock valued at $60,459,000 after buying an additional 563,127 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in Apogee Therapeutics by 2.2% during 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. Institutional investors and hedge funds own 79.04% of the company’s stock.

Insider Transactions at Apogee Therapeutics

In other news, CEO Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $82.58, for a total transaction of $1,651,600.00. Following the sale, the chief executive officer directly owned 1,132,987 shares of the company’s stock, valued at approximately $93,562,066.46. The trade was a 1.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 business’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 completion of the transaction, the insider owned 205,648 shares in the company, valued at approximately $16,186,554.08. This trade represents a 2.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 76,500 shares of company stock valued at $6,323,295. 24.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

APGE has been the subject of several recent research reports. Truist Financial dropped their price objective on shares of Apogee Therapeutics from $83.00 to $81.00 and set a “hold” rating for the company in a research report on Wednesday, May 27th. Citigroup lifted their target price on shares of Apogee Therapeutics from $95.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Wedbush increased their price target on Apogee Therapeutics from $120.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Royal Bank Of Canada raised their price objective on Apogee Therapeutics from $82.00 to $97.00 and gave the company a “sector perform” rating in a research report on Monday, June 8th. Finally, Guggenheim boosted their price objective on Apogee Therapeutics from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, March 24th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Apogee Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $114.56.

Apogee Therapeutics Stock Down 1.1%

APGE opened at $85.24 on Wednesday. The firm’s 50 day moving average is $84.52 and its 200-day moving average is $77.61. Apogee Therapeutics Inc. has a 52-week low of $34.34 and a 52-week high of $95.32. The firm has a market capitalization of $5.28 billion, a P/E ratio of -19.69 and a beta of 0.62.

Apogee Therapeutics (NASDAQ:APGE) last announced its earnings results on Monday, May 11th. The company reported ($1.06) earnings per share for the quarter, beating the consensus estimate of ($1.07) by $0.01. Equities analysts expect that Apogee Therapeutics Inc. will post -4.45 earnings per share for the current fiscal year.

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.