205,000 Shares in Apogee Therapeutics Inc. $APGE Purchased by Absolute Gestao de Investimentos Ltda.

Key Points

• Absolute Gestao de Investimentos acquired 205,000 Apogee Therapeutics shares worth approximately $27.2 million, representing about 0.33% of the company and 2.7% of the fund’s holdings. Institutional investors collectively own 79.04% of APGE.
• Apogee shares opened at $135.07, near their 52-week high of $135.09, with a market capitalization of approximately $8.4 billion. The company reported a quarterly loss of $1.14 per share, missing the consensus estimate of a $1.07 loss.
• Analyst sentiment is largely cautious, with a consensus “Hold” rating and an average price target of $126.77; several firms recently downgraded the stock to neutral, while insiders have sold $19.9 million in shares over the past 90 days.

Absolute Gestao de Investimentos Ltda. acquired a new stake in shares of Apogee Therapeutics Inc. (NASDAQ:APGE - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 205,000 shares of the company's stock, valued at approximately $27,210,000. Apogee Therapeutics makes up about 2.7% of Absolute Gestao de Investimentos Ltda.'s holdings, making the stock its 9th biggest holding. Absolute Gestao de Investimentos Ltda. owned about 0.33% of Apogee Therapeutics at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. California State Teachers Retirement System increased its holdings in shares of Apogee Therapeutics by 15,025.8% in the 2nd quarter. California State Teachers Retirement System now owns 5,772,162 shares of the company's stock worth $766,139,000 after acquiring an additional 5,734,001 shares during the period. BlackRock Inc. bought a new stake in Apogee Therapeutics in the 2nd quarter valued at about $730,948,000. 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 purchasing an additional 2,731,015 shares during the period. Glazer Capital LLC acquired a new position in Apogee Therapeutics during the 2nd quarter valued at about $217,816,000. Finally, Janus Henderson Group PLC grew its position in Apogee Therapeutics by 324.4% in the 4th quarter. Janus Henderson Group PLC now owns 2,062,604 shares of the company's stock worth $155,697,000 after purchasing an additional 1,576,626 shares during the last quarter. Institutional investors own 79.04% of the company's stock.

Apogee Therapeutics Stock Performance

Shares of Apogee Therapeutics stock opened at $135.07 on Monday. The company's 50-day moving average price is $134.23 and its two-hundred day moving average price is $101.20. Apogee Therapeutics Inc. has a 52 week low of $35.39 and a 52 week high of $135.09. The stock has a market cap of $8.40 billion, a PE ratio of -31.12 and a beta of 0.33.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported ($1.14) earnings per share for the quarter, missing the consensus estimate of ($1.07) by ($0.07). On average, equities analysts predict that Apogee Therapeutics Inc. will post -4.47 EPS for the current fiscal year.

Insider Buying and Selling

In other Apogee Therapeutics news, insider Carl Dambkowski sold 5,500 shares of the company's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $134.17, for a total value of $737,935.00. Following the transaction, the insider owned 168,498 shares of the company's stock, valued at approximately $22,607,376.66. This represents a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a 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 Henderson sold 20,000 shares of the stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $133.63, for a total value of $2,672,600.00. Following the sale, the chief executive officer owned 995,987 shares of the company's stock, valued at $133,093,742.81. This trade represents a 1.97% 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 have sold 157,400 shares of company stock valued at $19,912,045 over the last 90 days. 24.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

APGE has been the subject of several analyst reports. UBS Group downgraded Apogee Therapeutics from a "buy" rating to a "neutral" rating and boosted their price objective for the stock from $100.00 to $135.11 in a research report on Tuesday, June 23rd. Guggenheim lowered Apogee Therapeutics from a "buy" rating to a "neutral" rating in a research report on Tuesday, June 23rd. Stifel Nicolaus reissued a "hold" rating and issued a $135.00 price target (up from $133.00) on shares of Apogee Therapeutics in a research note on Wednesday, June 24th. Royal Bank Of Canada lifted their price objective 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. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Apogee Therapeutics in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $126.77.

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.

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