Candriam S.C.A. Grows Position in Apogee Therapeutics Inc. $APGE

Candriam S.C.A. raised its position in shares of Apogee Therapeutics Inc. (NASDAQ:APGE) by 16.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 223,541 shares of the company’s stock after buying an additional 32,223 shares during the quarter. Candriam S.C.A.’s holdings in Apogee Therapeutics were worth $18,815,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Strs Ohio lifted its position in Apogee Therapeutics by 33.3% during the 1st quarter. Strs Ohio now owns 4,400 shares of the company’s stock valued at $370,000 after acquiring an additional 1,100 shares during the period. Rockefeller Capital Management L.P. purchased a new stake in Apogee Therapeutics in the fourth quarter worth about $25,000. Avoro Capital Advisors LLC bought a new position in shares of Apogee Therapeutics during the fourth quarter valued at approximately $37,740,000. Seven Fleet Capital Management LP bought a new position in shares of Apogee Therapeutics during the fourth quarter valued at approximately $136,000. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in shares of Apogee Therapeutics by 189,522.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,732,456 shares of the company’s stock valued at $206,246,000 after purchasing an additional 2,731,015 shares during the last quarter. 79.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on APGE shares. BTIG Research reissued a “buy” rating and issued a $137.00 price target on shares of Apogee Therapeutics in a research report on Wednesday, May 27th. Truist Financial lowered their price objective on Apogee Therapeutics from $83.00 to $81.00 and set a “hold” rating for the company in a research note on Wednesday, May 27th. Guggenheim cut Apogee Therapeutics from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 23rd. Royal Bank Of Canada raised their price target on Apogee Therapeutics from $82.00 to $97.00 and gave the company a “sector perform” rating in a report on Monday, June 8th. Finally, Mizuho reiterated a “neutral” rating and issued a $135.00 price target (up from $110.00) on shares of Apogee Therapeutics in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $121.25.

Apogee Therapeutics Stock Performance

Shares of APGE traded up $0.08 during mid-day trading on Friday, hitting $133.65. 787,802 shares of the company traded hands, compared to its average volume of 5,990,803. The stock has a market cap of $8.27 billion, a price-to-earnings ratio of -30.87 and a beta of 0.32. The stock has a 50-day moving average price of $98.39 and a two-hundred day moving average price of $84.01. Apogee Therapeutics Inc. has a 1 year low of $34.34 and a 1 year high of $133.87.

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

Insider Activity

In other Apogee Therapeutics news, insider Carl Dambkowski sold 5,500 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $132.74, for a total value of $730,070.00. Following the transaction, the insider directly owned 177,873 shares in the company, valued at approximately $23,610,862.02. This trade represents a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 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 sale, the chief executive officer directly owned 995,987 shares of the company’s stock, valued at approximately $133,093,742.81. The trade was a 1.97% 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 a total of 182,900 shares of company stock valued at $21,711,585 in the last ninety days. Insiders own 24.30% of the company’s stock.

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.