Marks Group Wealth Management Inc Buys New Stake in Apogee Therapeutics Inc. $APGE

Marks Group Wealth Management Inc purchased a new stake in Apogee Therapeutics Inc. (NASDAQ:APGE) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,243 shares of the company’s stock, valued at approximately $694,000.

A number of other institutional investors also recently bought and sold shares of APGE. T. Rowe Price Investment Management Inc. increased its holdings in shares of Apogee Therapeutics by 189,522.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,732,456 shares of the company’s stock valued at $206,246,000 after acquiring an additional 2,731,015 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Apogee Therapeutics by 324.4% during the 4th quarter. Janus Henderson Group PLC now owns 2,062,604 shares of the company’s stock worth $155,697,000 after acquiring an additional 1,576,626 shares in the last quarter. Perceptive Advisors LLC lifted its stake in Apogee Therapeutics by 72.4% during the fourth quarter. Perceptive Advisors LLC now owns 2,330,651 shares of the company’s stock worth $175,918,000 after purchasing an additional 978,662 shares during the last quarter. Wellington Management Group LLP lifted 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 purchasing an additional 917,991 shares during the last quarter. Finally, UBS Group AG boosted its holdings in Apogee Therapeutics by 646.1% in the third quarter. UBS Group AG now owns 799,465 shares of the company’s stock valued at $31,763,000 after purchasing an additional 692,308 shares in the last quarter. 79.04% of the stock is owned by hedge funds and other institutional investors.

Apogee Therapeutics Stock Performance

Shares of NASDAQ:APGE opened at $134.08 on Friday. Apogee Therapeutics Inc. has a one year low of $34.34 and a one year high of $134.32. The stock has a market capitalization of $8.30 billion, a price-to-earnings ratio of -30.97 and a beta of 0.32. The company has a 50-day simple moving average of $102.46 and a 200-day simple moving average of $85.64.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. UBS Group cut shares of Apogee Therapeutics from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $100.00 to $135.11 in a report on Tuesday, June 23rd. Stifel Nicolaus restated a “hold” rating and issued a $135.00 target price (up from $133.00) on shares of Apogee Therapeutics in a report on Wednesday, June 24th. The Goldman Sachs Group set a $89.00 target price on shares of Apogee Therapeutics in a research report on Thursday, May 28th. Truist Financial cut their price target on shares of Apogee Therapeutics from $83.00 to $81.00 and set a “hold” rating on the stock in a research note on Wednesday, May 27th. Finally, Canaccord Genuity Group cut shares of Apogee Therapeutics from a “buy” rating to a “hold” rating and boosted their price target for the company from $130.00 to $135.11 in a research report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $121.25.

Insider Buying and Selling

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $133.63, for a total value of $2,672,600.00. Following the transaction, the chief executive officer directly owned 995,987 shares in the company, valued at approximately $133,093,742.81. This trade represents a 1.97% decrease in their position. The sale was disclosed in a document filed with the SEC, 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 Apogee Therapeutics stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $132.74, for a total value of $730,070.00. Following the completion of the transaction, the insider owned 177,873 shares in the company, valued at $23,610,862.02. This trade represents a 3.00% decrease in their ownership of the stock. 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 have sold a total of 182,900 shares of company stock valued at $21,711,585 over the last ninety days. 24.30% of the stock is owned by insiders.

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.