Granahan Investment Management LLC Has $6.32 Million Stock Holdings in Apogee Therapeutics Inc. $APGE

Granahan Investment Management LLC reduced its position in shares of Apogee Therapeutics Inc. (NASDAQ:APGE) by 20.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,086 shares of the company’s stock after selling 19,634 shares during the period. Granahan Investment Management LLC’s holdings in Apogee Therapeutics were worth $6,320,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Affinity Asset Advisors LLC increased its stake in shares of Apogee Therapeutics by 4.0% in the first quarter. Affinity Asset Advisors LLC now owns 1,284,926 shares of the company’s stock valued at $108,152,000 after buying an additional 50,000 shares during the period. Sei Investments Co. boosted its position in Apogee Therapeutics by 158.5% during the 1st quarter. Sei Investments Co. now owns 42,203 shares of the company’s stock worth $3,552,000 after buying an additional 25,874 shares during the period. First Trust Advisors LP grew its holdings in Apogee Therapeutics by 1,093.0% during the 1st quarter. First Trust Advisors LP now owns 40,776 shares of the company’s stock worth $3,432,000 after acquiring an additional 37,358 shares during the last quarter. WCM Investment Management LLC bought a new stake in Apogee Therapeutics during the 1st quarter worth approximately $5,985,000. Finally, AlphaCentric Advisors LLC increased its position in Apogee Therapeutics by 5.7% in the 1st quarter. AlphaCentric Advisors LLC now owns 11,369 shares of the company’s stock valued at $957,000 after acquiring an additional 618 shares during the period. Institutional investors and hedge funds own 79.04% of the company’s stock.

Insider Activity at Apogee Therapeutics

In other news, CEO Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $133.63, for a total value of $2,672,600.00. Following the completion of the sale, the chief executive officer owned 995,987 shares in the company, valued at $133,093,742.81. The trade was a 1.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 Apogee Therapeutics stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $132.74, for a total transaction of $730,070.00. Following the completion of the sale, the insider owned 177,873 shares of the company’s stock, valued at $23,610,862.02. This represents a 3.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 182,900 shares of company stock valued at $21,711,585. Insiders own 24.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on APGE shares. Citigroup downgraded shares of Apogee Therapeutics from a “buy” rating to a “neutral” rating and raised their price target for the company from $125.00 to $135.00 in a research note on Tuesday, June 23rd. BTIG Research restated a “buy” rating and issued a $137.00 price objective on shares of Apogee Therapeutics in a report on Wednesday, May 27th. Mizuho reaffirmed a “neutral” rating and set a $135.00 target price (up from $110.00) on shares of Apogee Therapeutics in a research report on Wednesday, June 24th. Royal Bank Of Canada raised their target price on Apogee Therapeutics from $82.00 to $97.00 and gave the stock a “sector perform” rating in a research report on Monday, June 8th. Finally, Rothschild & Co Redburn assumed coverage on Apogee Therapeutics in a report on Friday, May 1st. They set a “buy” rating and a $140.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $121.25.

Apogee Therapeutics Trading Up 0.0%

Shares of Apogee Therapeutics stock opened at $134.28 on Friday. The business has a 50-day moving average price of $108.57 and a two-hundred day moving average price of $88.02. Apogee Therapeutics Inc. has a 1-year low of $34.34 and a 1-year high of $134.40. The company has a market cap of $8.31 billion, a P/E ratio of -31.01 and a beta of 0.32.

Apogee Therapeutics (NASDAQ:APGE) last released its 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. Equities research analysts forecast that Apogee Therapeutics Inc. will post -4.45 EPS 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.