4,500 Shares in Apogee Therapeutics Inc. $APGE Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Apogee Therapeutics Inc. (NASDAQ:APGE) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 4,500 shares of the company’s stock, valued at approximately $597,000.

A number of other hedge funds also recently bought and sold shares of APGE. TD Asset Management Inc grew its position in shares of Apogee Therapeutics by 55.3% in the fourth quarter. TD Asset Management Inc now owns 129,290 shares of the company’s stock valued at $9,759,000 after purchasing an additional 46,050 shares in the last quarter. Vanguard Group Inc. lifted its position in Apogee Therapeutics by 27.3% during the fourth quarter. Vanguard Group Inc. now owns 2,857,824 shares of the company’s stock worth $215,709,000 after buying an additional 612,193 shares in the last quarter. Alberta Investment Management Corp purchased a new position in Apogee Therapeutics during the second quarter worth approximately $9,955,000. Bank of New York Mellon Corp boosted its stake in Apogee Therapeutics by 7.3% during the first quarter. Bank of New York Mellon Corp now owns 126,757 shares of the company’s stock worth $10,669,000 after buying an additional 8,673 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in Apogee Therapeutics by 13.5% during the first quarter. Bank of America Corp DE now owns 900,871 shares of the company’s stock worth $75,826,000 after buying an additional 107,176 shares during the last quarter. Institutional investors and hedge funds own 79.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Canaccord Genuity Group downgraded Apogee Therapeutics from a “buy” rating to a “hold” rating and raised their target price for the stock from $130.00 to $135.11 in a research note on Monday, June 22nd. Guggenheim lowered Apogee Therapeutics from a “buy” rating to a “neutral” rating in a report on Tuesday, June 23rd. TD Cowen cut shares of Apogee Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Stifel Nicolaus reissued a “hold” rating and issued a $135.00 price objective (up from $133.00) on shares of Apogee Therapeutics in a report on Wednesday, June 24th. Finally, Truist Financial raised their price objective on shares of Apogee Therapeutics from $81.00 to $135.00 and gave the stock a “hold” rating in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Apogee Therapeutics has an average rating of “Hold” and an average price target of $124.43.

Insiders Place Their Bets

In related 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 value of $10,603,200.00. Following the sale, the chief executive officer directly owned 1,015,987 shares in the company, valued at approximately $134,658,916.98. The trade was a 7.30% decrease in their position. The sale was disclosed in a filing 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 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 transaction, the insider directly owned 179,248 shares in the company, valued at $23,768,284.80. The trade was a 12.84% 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. Over the last quarter, insiders have sold 162,900 shares of company stock valued at $20,344,950. Company insiders own 24.30% of the company’s stock.

Apogee Therapeutics Stock Performance

Shares of Apogee Therapeutics stock opened at $134.75 on Friday. The firm has a market capitalization of $8.38 billion, a price-to-earnings ratio of -31.05 and a beta of 0.34. Apogee Therapeutics Inc. has a fifty-two week low of $35.39 and a fifty-two week high of $134.88. The stock has a 50 day moving average of $129.31 and a 200 day moving average of $96.10.

Apogee Therapeutics (NASDAQ:APGE) last posted its earnings results on Monday, August 10th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.07) by ($0.07). Analysts forecast that Apogee Therapeutics Inc. will post -4.47 EPS for the current year.

Apogee Therapeutics Company 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.