Swiss National Bank Has $6.36 Million Position in Apogee Therapeutics Inc. $APGE

Swiss National Bank boosted its stake in shares of Apogee Therapeutics Inc. (NASDAQ:APGE) by 20.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,600 shares of the company’s stock after acquiring an additional 12,700 shares during the period. Swiss National Bank owned 0.12% of Apogee Therapeutics worth $6,363,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its position in shares of Apogee Therapeutics by 0.5% during the 4th quarter. Wellington Management Group LLP now owns 4,746,585 shares of the company’s stock valued at $358,272,000 after acquiring an additional 22,884 shares during the period. Vanguard Group Inc. increased its position in shares of Apogee Therapeutics by 27.3% in the fourth 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 during the period. T. Rowe Price Investment Management Inc. increased its position in shares of Apogee Therapeutics by 189,522.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,732,456 shares of the company’s stock worth $206,246,000 after purchasing an additional 2,731,015 shares during the period. Perceptive Advisors LLC raised its stake in Apogee Therapeutics by 72.4% in the fourth quarter. Perceptive Advisors LLC now owns 2,330,651 shares of the company’s stock valued at $175,918,000 after purchasing an additional 978,662 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in Apogee Therapeutics by 324.4% in the fourth quarter. Janus Henderson Group PLC now owns 2,062,604 shares of the company’s stock valued at $155,697,000 after purchasing an additional 1,576,626 shares in the last quarter. 79.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on APGE. Weiss Ratings reiterated a “sell (d-)” rating on shares of Apogee Therapeutics in a research note on Friday, July 17th. Mizuho reissued a “neutral” rating and issued a $135.00 target price (up from $110.00) on shares of Apogee Therapeutics in a report on Wednesday, June 24th. BTIG Research restated a “buy” rating and issued a $137.00 target price on shares of Apogee Therapeutics in a research report on Wednesday, May 27th. Rothschild & Co Redburn started coverage on shares of Apogee Therapeutics in a report on Friday, May 1st. They set a “buy” rating and a $140.00 price target for the company. Finally, Guggenheim lowered shares of Apogee Therapeutics from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $121.25.

Insider Transactions at Apogee Therapeutics

In other news, insider Carl Dambkowski sold 26,400 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $132.60, for a total value of $3,500,640.00. Following the sale, the insider directly owned 179,248 shares in the company, valued at approximately $23,768,284.80. This trade represents a 12.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Thomas Henderson sold 80,000 shares of Apogee Therapeutics stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $132.54, for a total transaction of $10,603,200.00. Following the sale, the chief executive officer directly owned 1,015,987 shares in the company, valued at $134,658,916.98. This trade represents a 7.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 182,900 shares of company stock valued at $21,711,585 in the last three months. Company insiders own 24.30% of the company’s stock.

Apogee Therapeutics Stock Down 0.1%

Shares of APGE stock opened at $134.17 on Wednesday. Apogee Therapeutics Inc. has a twelve month low of $34.34 and a twelve month high of $134.46. The company has a market cap of $8.30 billion, a P/E ratio of -30.99 and a beta of 0.32. The business has a fifty day simple moving average of $110.79 and a 200 day simple moving average of $88.88.

Apogee Therapeutics (NASDAQ:APGE) last released its quarterly earnings data 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. As a group, equities research analysts anticipate that Apogee Therapeutics Inc. will post -4.45 earnings per share for the current fiscal 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.