Perceptive Advisors LLC Sells 790,267 Shares of Apogee Therapeutics Inc. $APGE

Perceptive Advisors LLC decreased its position in Apogee Therapeutics Inc. (NASDAQ:APGE) by 33.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 1,540,384 shares of the company’s stock after selling 790,267 shares during the period. Apogee Therapeutics makes up 2.5% of Perceptive Advisors LLC’s investment portfolio, making the stock its 11th biggest holding. Perceptive Advisors LLC’s holdings in Apogee Therapeutics were worth $129,654,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of APGE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Apogee Therapeutics by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,529 shares of the company’s stock valued at $921,000 after buying an additional 694 shares during the last quarter. Millennium Management LLC lifted its position in shares of Apogee Therapeutics by 100.0% in the first quarter. Millennium Management LLC now owns 260,335 shares of the company’s stock worth $9,726,000 after purchasing an additional 130,164 shares in the last quarter. Creative Planning acquired a new position in Apogee Therapeutics during the second quarter worth $392,000. Legal & General Group Plc boosted its holdings in Apogee Therapeutics by 7.4% during the second quarter. Legal & General Group Plc now owns 27,689 shares of the company’s stock worth $1,203,000 after purchasing an additional 1,907 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in Apogee Therapeutics by 10,570.6% in the second quarter. Russell Investments Group Ltd. now owns 21,768 shares of the company’s stock valued at $945,000 after purchasing an additional 21,564 shares in the last quarter. 79.04% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Michael Thomas Henderson sold 80,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 1,015,987 shares in the company, valued at $134,658,916.98. The trade was a 7.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Carl Dambkowski sold 26,400 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $132.60, for a total transaction of $3,500,640.00. Following the completion of the sale, the insider directly owned 179,248 shares in the company, valued at approximately $23,768,284.80. The trade was a 12.84% 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 a total of 182,900 shares of company stock worth $21,711,585 over the last 90 days. 24.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on APGE shares. UBS Group lowered shares of Apogee Therapeutics from a “buy” rating to a “neutral” rating and lifted their price target for the company from $100.00 to $135.11 in a research note on Tuesday, June 23rd. Citigroup cut Apogee Therapeutics from a “buy” rating to a “neutral” rating and raised their price objective for the company from $125.00 to $135.00 in a report on Tuesday, June 23rd. Mizuho reaffirmed a “neutral” rating and issued a $135.00 target price (up from $110.00) on shares of Apogee Therapeutics in a research report on Wednesday, June 24th. Truist Financial dropped their target price on Apogee Therapeutics from $83.00 to $81.00 and set a “hold” rating on the stock in a report on Wednesday, May 27th. Finally, Royal Bank Of Canada increased their price target 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. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $121.25.

Apogee Therapeutics Trading Down 0.2%

Shares of APGE opened at $134.09 on Friday. The company has a market cap of $8.30 billion, a price-to-earnings ratio of -30.97 and a beta of 0.32. Apogee Therapeutics Inc. has a 1-year low of $34.34 and a 1-year high of $134.46. The company’s fifty day simple moving average is $113.95 and its 200 day simple moving average is $89.98.

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