7,000 Shares in Apogee Therapeutics Inc. $APGE Purchased by ACT Capital Management LLC

ACT Capital Management LLC acquired a new position in shares of Apogee Therapeutics Inc. (NASDAQ:APGE) during the 4th quarter, HoldingsChannel reports. The firm acquired 7,000 shares of the company’s stock, valued at approximately $528,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Los Angeles Capital Management LLC acquired a new stake in Apogee Therapeutics during the fourth quarter worth about $37,000. ANTIPODES PARTNERS Ltd raised its stake in Apogee Therapeutics by 41.2% during the third quarter. ANTIPODES PARTNERS Ltd now owns 843 shares of the company’s stock worth $33,000 after acquiring an additional 246 shares during the period. Ensign Peak Advisors Inc acquired a new stake in Apogee Therapeutics during the fourth quarter worth about $170,000. Quantbot Technologies LP acquired a new stake in Apogee Therapeutics during the third quarter worth about $96,000. Finally, Quarry LP acquired a new stake in Apogee Therapeutics during the fourth quarter worth about $189,000. Institutional investors and hedge funds own 79.04% of the company’s stock.

Apogee Therapeutics Trading Up 3.7%

Shares of NASDAQ:APGE opened at $88.43 on Thursday. The firm’s 50 day moving average is $84.61 and its two-hundred day moving average is $77.73. Apogee Therapeutics Inc. has a 52 week low of $34.34 and a 52 week high of $95.32. The firm has a market capitalization of $5.47 billion, a P/E ratio of -20.42 and a beta of 0.62.

Apogee Therapeutics (NASDAQ:APGE) last posted its quarterly earnings data on Monday, May 11th. The company reported ($1.06) EPS for the quarter, beating analysts’ consensus estimates of ($1.07) by $0.01. Analysts predict that Apogee Therapeutics Inc. will post -4.45 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on APGE shares. BTIG Research reiterated a “buy” rating and set a $137.00 price objective on shares of Apogee Therapeutics in a research note on Wednesday, May 27th. Canaccord Genuity Group increased their price objective on shares of Apogee Therapeutics from $89.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, March 24th. Royal Bank Of Canada raised their price target on shares of Apogee Therapeutics from $82.00 to $97.00 and gave the company a “sector perform” rating in a research note on Monday, June 8th. The Goldman Sachs Group set a $89.00 price target on shares of Apogee Therapeutics in a research note on Thursday, May 28th. Finally, Truist Financial dropped 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. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $114.56.

Insider Buying and Selling

In related news, CEO Michael Thomas Henderson sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $82.58, for a total transaction of $1,651,600.00. Following the transaction, the chief executive officer owned 1,132,987 shares in the company, valued at $93,562,066.46. This trade represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Carl Dambkowski sold 5,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $78.71, for a total transaction of $432,905.00. Following the transaction, the insider owned 205,648 shares in the company, valued at $16,186,554.08. This represents a 2.60% decrease in their position. 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 76,500 shares of company stock worth $6,323,295 in the last quarter. Company insiders own 24.30% of the company’s stock.

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.