Apogee Therapeutics Inc. $APGE Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its position in Apogee Therapeutics Inc. (NASDAQ:APGE) by 87.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 564,326 shares of the company’s stock after selling 3,811,377 shares during the quarter. Wellington Management Group LLP owned 0.91% of Apogee Therapeutics worth $74,903,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Mint Tower Capital Management B.V. acquired a new position in shares of Apogee Therapeutics in the 2nd quarter valued at approximately $2,186,000. Empowered Funds LLC acquired a new stake in shares of Apogee Therapeutics during the second quarter worth approximately $274,000. Glazer Capital LLC acquired a new stake in shares of Apogee Therapeutics during the second quarter worth approximately $217,816,000. Capstone Investment Advisors LLC bought a new stake in shares of Apogee Therapeutics in the second quarter worth $15,928,000. Finally, Corient Private Wealth LP bought a new stake in shares of Apogee Therapeutics in the second quarter worth $680,000. 79.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. BTIG Research downgraded Apogee Therapeutics from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 12th. Canaccord Genuity Group cut Apogee Therapeutics from a “buy” rating to a “hold” rating and upped their price objective for the company from $130.00 to $135.11 in a research note on Monday, June 22nd. Mizuho reaffirmed a “neutral” rating and set a $135.00 target price (up from $110.00) on shares of Apogee Therapeutics in a report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft lowered Apogee Therapeutics from a “buy” rating to a “hold” rating and lifted their target price for the stock from $116.00 to $135.00 in a research report on Monday, June 22nd. Finally, The Goldman Sachs Group set a $89.00 price target on Apogee Therapeutics in a research report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Apogee Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $126.77.

Apogee Therapeutics Stock Performance

Shares of APGE opened at $135.07 on Thursday. Apogee Therapeutics Inc. has a 1 year low of $35.39 and a 1 year high of $135.09. The company has a market cap of $8.40 billion, a price-to-earnings ratio of -31.12 and a beta of 0.33. The firm has a fifty day moving average of $134.13 and a 200-day moving average of $100.25.

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

Insider Buying and Selling at Apogee Therapeutics

In other news, insider Carl Dambkowski sold 5,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $134.17, for a total transaction of $737,935.00. Following the sale, the insider owned 168,498 shares in the company, valued at $22,607,376.66. The trade was a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Thomas Henderson sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $133.63, for a total transaction of $2,672,600.00. Following the completion of the sale, the chief executive officer owned 995,987 shares of the company’s stock, valued at approximately $133,093,742.81. This trade represents a 1.97% 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 three months, insiders have sold 157,400 shares of company stock valued at $19,912,045. Corporate insiders own 24.30% of the company’s stock.

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.