Affinity Asset Advisors LLC Purchases 50,000 Shares of Apogee Therapeutics Inc. $APGE

Affinity Asset Advisors LLC raised its stake in Apogee Therapeutics Inc. (NASDAQ:APGE) by 4.0% in the first quarter, Holdings Channel reports. The fund owned 1,284,926 shares of the company’s stock after purchasing an additional 50,000 shares during the quarter. Apogee Therapeutics accounts for approximately 5.6% of Affinity Asset Advisors LLC’s investment portfolio, making the stock its largest holding. Affinity Asset Advisors LLC’s holdings in Apogee Therapeutics were worth $108,152,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rockefeller Capital Management L.P. acquired a new position in Apogee Therapeutics during the 4th quarter worth about $25,000. Los Angeles Capital Management LLC bought a new position in Apogee Therapeutics during the fourth quarter worth $37,000. Seven Fleet Capital Management LP acquired a new position in Apogee Therapeutics in the fourth quarter valued at $136,000. Ensign Peak Advisors Inc acquired a new stake in Apogee Therapeutics during the 4th quarter worth about $170,000. Finally, Quantbot Technologies LP bought a new position in shares of Apogee Therapeutics in the 3rd quarter worth about $96,000. Institutional investors own 79.04% of the company’s stock.

Insider Buying and Selling at Apogee Therapeutics

In other news, CEO Michael Thomas Henderson sold 80,000 shares of Apogee Therapeutics stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $132.54, for a total value of $10,603,200.00. Following the completion of the transaction, the chief executive officer owned 1,015,987 shares in the company, valued at approximately $134,658,916.98. The trade was a 7.30% decrease in their position. The sale was disclosed in a document filed 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, insider Carl Dambkowski sold 26,400 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $132.60, for a total value of $3,500,640.00. Following the transaction, the insider owned 179,248 shares of the company’s stock, valued at $23,768,284.80. This trade represents a 12.84% 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 a total of 182,900 shares of company stock valued at $21,711,585 in the last ninety days. 24.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

APGE has been the subject of several recent research reports. Wedbush downgraded shares of Apogee Therapeutics from an “outperform” rating to a “neutral” rating and set a $135.00 target price for the company. in a research report on Monday, June 22nd. Royal Bank Of Canada upped their price target on Apogee Therapeutics from $82.00 to $97.00 and gave the stock a “sector perform” rating in a report on Monday, June 8th. Canaccord Genuity Group downgraded shares of Apogee Therapeutics from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $130.00 to $135.11 in a report on Monday, June 22nd. Rothschild & Co Redburn started coverage on shares of Apogee Therapeutics in a report on Friday, May 1st. They issued a “buy” rating and a $140.00 target price for the company. Finally, Craig Hallum set a $135.11 price target on shares of Apogee Therapeutics and gave the company a “hold” rating in a research report on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $121.25.

Apogee Therapeutics Stock Performance

Shares of APGE opened at $134.28 on Friday. Apogee Therapeutics Inc. has a fifty-two week low of $34.34 and a fifty-two week high of $134.40. The stock has a market cap of $8.31 billion, a PE ratio of -31.01 and a beta of 0.32. The firm’s 50-day simple moving average is $108.57 and its two-hundred day simple moving average is $88.02.

Apogee Therapeutics (NASDAQ:APGE) last posted its quarterly earnings results on Monday, May 11th. The company reported ($1.06) earnings per share for the quarter, topping the consensus estimate of ($1.07) by $0.01. Equities research analysts predict that Apogee Therapeutics Inc. will post -4.45 EPS for the current year.

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.