KBC Group NV Invests $3.19 Million in Apogee Therapeutics Inc. $APGE

KBC Group NV acquired a new position in shares of Apogee Therapeutics Inc. (NASDAQ:APGE) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 37,843 shares of the company’s stock, valued at approximately $3,185,000. KBC Group NV owned 0.06% of Apogee Therapeutics as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. bought a new position in Apogee Therapeutics during the fourth quarter worth about $25,000. Los Angeles Capital Management LLC bought a new stake in shares of Apogee Therapeutics in the 4th quarter valued at about $37,000. Quantbot Technologies LP bought a new stake in shares of Apogee Therapeutics in the 3rd quarter valued at about $96,000. Seven Fleet Capital Management LP acquired a new stake in shares of Apogee Therapeutics in the 4th quarter valued at approximately $136,000. Finally, BNP Paribas Financial Markets raised its position in shares of Apogee Therapeutics by 34.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,649 shares of the company’s stock valued at $158,000 after acquiring an additional 941 shares during the period. Institutional investors own 79.04% of the company’s stock.

Apogee Therapeutics Stock Performance

Shares of APGE opened at $134.28 on Friday. The stock has a 50 day simple moving average of $108.57 and a 200 day simple moving average of $88.02. Apogee Therapeutics Inc. has a 52-week low of $34.34 and a 52-week high of $134.40. The firm has a market capitalization of $8.31 billion, a PE ratio of -31.01 and a beta of 0.32.

Apogee Therapeutics (NASDAQ:APGE) last announced 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 predict that Apogee Therapeutics Inc. will post -4.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group set a $89.00 price objective on shares of Apogee Therapeutics in a report on Thursday, May 28th. Wedbush cut shares of Apogee Therapeutics from an “outperform” rating to a “neutral” rating and set a $135.00 price target on the stock. in a research report on Monday, June 22nd. Canaccord Genuity Group lowered 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 report on Monday, June 22nd. Citigroup lowered shares of Apogee Therapeutics from a “buy” rating to a “neutral” rating and boosted their price target for the company from $125.00 to $135.00 in a report on Tuesday, June 23rd. Finally, UBS Group cut shares of Apogee Therapeutics from a “buy” rating to a “neutral” rating and upped their price objective for the company from $100.00 to $135.11 in a research report on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $121.25.

Insider Buying and Selling at Apogee Therapeutics

In related news, CEO Michael Thomas Henderson sold 20,000 shares of the company’s 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 transaction, the chief executive officer directly owned 995,987 shares of the company’s stock, valued at approximately $133,093,742.81. This represents a 1.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 dated 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 sale, the insider directly owned 177,873 shares in the company, 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. Insiders have sold 182,900 shares of company stock valued at $21,711,585 in the last three months. 24.30% of the stock is owned by insiders.

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.