Sei Investments Co. Purchases 25,874 Shares of Apogee Therapeutics Inc. $APGE

Sei Investments Co. increased its position in Apogee Therapeutics Inc. (NASDAQ:APGE) by 158.5% in the first quarter, HoldingsChannel reports. The firm owned 42,203 shares of the company’s stock after purchasing an additional 25,874 shares during the quarter. Sei Investments Co.’s holdings in Apogee Therapeutics were worth $3,552,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Apogee Therapeutics by 2.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,529 shares of the company’s stock worth $921,000 after purchasing an additional 694 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Apogee Therapeutics by 100.0% during the 1st quarter. Millennium Management LLC now owns 260,335 shares of the company’s stock valued at $9,726,000 after buying an additional 130,164 shares in the last quarter. Creative Planning purchased a new stake in shares of Apogee Therapeutics in the 2nd quarter worth about $392,000. Legal & General Group Plc grew its position in shares of Apogee Therapeutics by 7.4% in the 2nd quarter. Legal & General Group Plc now owns 27,689 shares of the company’s stock worth $1,203,000 after buying an additional 1,907 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of Apogee Therapeutics by 10,570.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 21,768 shares of the company’s stock worth $945,000 after acquiring an additional 21,564 shares in the last quarter. 79.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on APGE. Craig Hallum set a $135.11 price objective on shares of Apogee Therapeutics and gave the stock a “hold” rating in a research note on Monday, June 22nd. Deutsche Bank Aktiengesellschaft downgraded shares of Apogee Therapeutics from a “buy” rating to a “hold” rating and raised their target price for the company from $116.00 to $135.00 in a research note on Monday, June 22nd. UBS Group cut Apogee Therapeutics from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $100.00 to $135.11 in a research report on Tuesday, June 23rd. Mizuho restated a “neutral” rating and issued a $135.00 price target (up from $110.00) on shares of Apogee Therapeutics in a research note on Wednesday, June 24th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $135.00 price objective (up from $133.00) on shares of Apogee Therapeutics in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $121.25.

Apogee Therapeutics Price Performance

APGE opened at $134.49 on Friday. The firm has a market cap of $8.32 billion, a PE ratio of -31.06 and a beta of 0.34. The stock has a 50-day moving average price of $118.30 and a 200-day moving average price of $91.58. Apogee Therapeutics Inc. has a 1 year low of $34.34 and a 1 year high of $134.58.

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

Insider Activity

In other news, insider Carl Dambkowski sold 26,400 shares of the company’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 transaction, the insider owned 179,248 shares in the company, valued at approximately $23,768,284.80. This represents a 12.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Thomas Henderson sold 80,000 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $132.54, for a total transaction of $10,603,200.00. Following the sale, the chief executive officer directly owned 1,015,987 shares of the company’s stock, valued at $134,658,916.98. This trade represents a 7.30% 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. Insiders sold 177,400 shares of company stock valued at $21,248,815 over the last ninety days. Corporate insiders own 24.30% of the company’s stock.

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.