Avoro Capital Advisors LLC Acquires Shares of 500,000 Apogee Therapeutics Inc. $APGE

Avoro Capital Advisors LLC bought a new stake in Apogee Therapeutics Inc. (NASDAQ:APGE) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 500,000 shares of the company’s stock, valued at approximately $37,740,000. Apogee Therapeutics accounts for approximately 0.4% of Avoro Capital Advisors LLC’s holdings, making the stock its 28th largest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Seven Fleet Capital Management LP acquired a new stake in shares of Apogee Therapeutics during the fourth quarter worth approximately $136,000. T. Rowe Price Investment Management Inc. boosted its stake in Apogee Therapeutics by 189,522.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,732,456 shares of the company’s stock valued at $206,246,000 after acquiring an additional 2,731,015 shares during the last quarter. Invesco Ltd. grew its holdings in Apogee Therapeutics by 142.6% during the 4th quarter. Invesco Ltd. now owns 70,687 shares of the company’s stock worth $5,335,000 after acquiring an additional 41,549 shares in the last quarter. Vident Advisory LLC acquired a new position in Apogee Therapeutics during the 4th quarter worth $218,000. Finally, XTX Topco Ltd increased its position in shares of Apogee Therapeutics by 225.1% in the 4th quarter. XTX Topco Ltd now owns 19,026 shares of the company’s stock worth $1,436,000 after purchasing an additional 13,174 shares during the last quarter. 79.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Citigroup increased their price target on shares of Apogee Therapeutics from $95.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Truist Financial cut their price objective on Apogee Therapeutics from $83.00 to $81.00 and set a “hold” rating on the stock in a research note on Wednesday, May 27th. Royal Bank Of Canada increased their target price on Apogee Therapeutics from $82.00 to $97.00 and gave the stock a “sector perform” rating in a report on Monday, June 8th. The Goldman Sachs Group set a $89.00 target price on Apogee Therapeutics in a research report on Thursday, May 28th. Finally, Mizuho boosted their price target on Apogee Therapeutics from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, March 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Apogee Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $114.56.

Insider Transactions at Apogee Therapeutics

In related news, insider Carl Dambkowski sold 5,500 shares of the business’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 value of $432,905.00. Following the sale, the insider directly owned 205,648 shares in the company, valued at $16,186,554.08. The trade was a 2.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Thomas Henderson sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $83.38, for a total transaction of $1,667,600.00. Following the completion of the sale, the chief executive officer owned 1,095,987 shares in the company, valued at $91,383,396.06. The trade was a 1.79% decrease in their ownership of the stock. 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 sold a total of 76,500 shares of company stock valued at $6,323,295 over the last three months. 24.30% of the stock is owned by corporate insiders.

Apogee Therapeutics Price Performance

NASDAQ APGE opened at $90.38 on Friday. Apogee Therapeutics Inc. has a 12 month low of $34.34 and a 12 month high of $95.32. The firm has a market capitalization of $5.59 billion, a PE ratio of -20.87 and a beta of 0.62. The company’s 50 day simple moving average is $84.90 and its 200 day simple moving average is $77.95.

Apogee Therapeutics (NASDAQ:APGE) last announced its earnings results on Monday, May 11th. The company reported ($1.06) earnings per share for the quarter, beating the consensus estimate of ($1.07) by $0.01. Sell-side analysts anticipate that Apogee Therapeutics Inc. will post -4.45 earnings per share for the current fiscal year.

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.