Arrowpoint Investment Partners Singapore Pte. Ltd. Purchases New Shares in Apogee Therapeutics Inc. $APGE

Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new stake in Apogee Therapeutics Inc. (NASDAQ:APGE) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 6,324 shares of the company’s stock, valued at approximately $477,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. ANTIPODES PARTNERS Ltd boosted its position in shares of Apogee Therapeutics by 41.2% in the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 843 shares of the company’s stock valued at $33,000 after purchasing an additional 246 shares during the period. Comerica Bank raised its position in Apogee Therapeutics by 1.0% during the fourth quarter. Comerica Bank now owns 35,872 shares of the company’s stock valued at $2,708,000 after buying an additional 338 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Apogee Therapeutics by 2.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,529 shares of the company’s stock valued at $921,000 after buying an additional 694 shares during the period. China Universal Asset Management Co. Ltd. raised its position in Apogee Therapeutics by 10.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,935 shares of the company’s stock valued at $674,000 after buying an additional 853 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Apogee Therapeutics by 49.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,665 shares of the company’s stock valued at $201,000 after buying an additional 882 shares during the period. Institutional investors and hedge funds own 79.04% of the company’s stock.

Apogee Therapeutics Price Performance

Apogee Therapeutics stock opened at $90.38 on Friday. Apogee Therapeutics Inc. has a one year low of $34.34 and a one year high of $95.32. The company’s fifty day moving average price is $83.80 and its two-hundred day moving average price is $76.51. The company has a market capitalization of $5.59 billion, a price-to-earnings ratio of -20.87 and a beta of 0.62.

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

Insider Transactions at Apogee Therapeutics

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $82.09, for a total value of $1,641,800.00. Following the completion of the sale, the chief executive officer owned 1,115,987 shares of the company’s stock, valued at $91,611,372.83. The trade was a 1.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Carl Dambkowski sold 5,500 shares of the business’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $84.14, for a total value of $462,770.00. Following the completion of the sale, the insider directly owned 207,023 shares of the company’s stock, valued at $17,418,915.22. This represents a 2.59% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 71,000 shares of company stock valued at $5,718,390 in the last ninety days. Insiders own 24.30% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Royal Bank Of Canada dropped their price target on Apogee Therapeutics from $83.00 to $82.00 and set a “sector perform” rating on the stock in a research report on Monday, March 2nd. Mizuho upped their price target on Apogee Therapeutics from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, March 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Apogee Therapeutics in a research report on Monday, April 20th. Canaccord Genuity Group upped their price target on Apogee Therapeutics from $89.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Finally, The Goldman Sachs Group set a $89.00 price target on Apogee Therapeutics in a research report on Thursday, May 28th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $113.63.

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.