Legato Capital Management LLC Invests $1.02 Million in Apogee Therapeutics Inc. $APGE

Legato Capital Management LLC bought a new position in shares of Apogee Therapeutics Inc. (NASDAQ:APGE) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 13,551 shares of the company’s stock, valued at approximately $1,023,000.

A number of other institutional investors also recently bought and sold shares of APGE. 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 purchasing an additional 246 shares during the period. Quantbot Technologies LP purchased a new stake in Apogee Therapeutics during the 3rd quarter worth approximately $96,000. BNP Paribas Financial Markets increased its stake in Apogee Therapeutics by 34.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,649 shares of the company’s stock worth $158,000 after buying an additional 941 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Apogee Therapeutics by 49.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,665 shares of the company’s stock worth $201,000 after buying an additional 882 shares during the period. Finally, E Fund Management Co. Ltd. acquired a new position in shares of Apogee Therapeutics in the 2nd quarter valued at $204,000. 79.04% of the stock is owned by hedge funds and other institutional investors.

Apogee Therapeutics Stock Performance

NASDAQ:APGE opened at $81.16 on Tuesday. The firm has a 50-day moving average price of $82.06 and a two-hundred day moving average price of $75.27. Apogee Therapeutics Inc. has a twelve month low of $34.34 and a twelve month high of $95.32. The company has a market capitalization of $5.02 billion, a P/E ratio of -18.74 and a beta of 0.69.

Apogee Therapeutics (NASDAQ:APGE) last posted 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. On average, equities research analysts predict that Apogee Therapeutics Inc. will post -4.48 earnings per share for the current year.

Insider Activity

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $82.09, for a total transaction of $1,641,800.00. Following the sale, the chief executive officer directly owned 1,115,987 shares of the company’s stock, valued at $91,611,372.83. This trade represents a 1.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 dated Wednesday, May 6th. The stock was sold at an average price of $84.14, for a total transaction of $462,770.00. Following the sale, the insider directly owned 207,023 shares in the company, valued at $17,418,915.22. This represents a 2.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 76,500 shares of company stock worth $6,109,220 over the last ninety days. 24.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Mizuho upped their price objective on shares of Apogee Therapeutics from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, March 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Apogee Therapeutics in a research report on Monday, April 20th. BTIG Research restated a “buy” rating and set a $137.00 price objective on shares of Apogee Therapeutics in a research report on Monday, March 23rd. Citigroup upped their price objective 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. Finally, Wedbush upped their price objective on shares of Apogee Therapeutics from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 3rd. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.73.

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.