Apogee Therapeutics Inc. $APGE Stake Increased by Perceptive Advisors LLC

Key Points

• Perceptive Advisors LLC increased its Apogee Therapeutics stake by 72.4% in the fourth quarter, buying 978,662 more shares and bringing its total to 2.33 million shares worth about $175.9 million.
• Several analysts raised price targets on APGE, with the stock carrying a Moderate Buy consensus and an average target price of $114.56.
• Insider trading was active: CEO Michael Thomas Henderson sold 20,000 shares and insider Carl Dambkowski sold 5,500 shares, while Apogee’s latest quarterly EPS of -$1.06 slightly beat estimates.

Perceptive Advisors LLC grew its stake in shares of Apogee Therapeutics Inc. (NASDAQ:APGE - Free Report) by 72.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,330,651 shares of the company's stock after buying an additional 978,662 shares during the quarter. Apogee Therapeutics accounts for 3.1% of Perceptive Advisors LLC's investment portfolio, making the stock its 5th biggest position. Perceptive Advisors LLC owned 3.41% of Apogee Therapeutics worth $175,918,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. ANTIPODES PARTNERS Ltd raised its position in shares of Apogee Therapeutics by 41.2% during the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 843 shares of the company's stock valued at $33,000 after buying an additional 246 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Apogee Therapeutics during the 4th quarter valued at $37,000. Quantbot Technologies LP purchased a new stake in shares of Apogee Therapeutics during the 3rd quarter valued at $96,000. BNP Paribas Financial Markets raised its position in shares of Apogee Therapeutics by 34.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,649 shares of the company's stock valued at $158,000 after buying an additional 941 shares in the last quarter. Finally, Ensign Peak Advisors Inc purchased a new stake in shares of Apogee Therapeutics during the 4th quarter valued at $170,000. Hedge funds and other institutional investors own 79.04% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Mizuho increased their target price on shares of Apogee Therapeutics from $105.00 to $110.00 and gave the company an "outperform" rating in a report on Monday, March 30th. Royal Bank Of Canada increased their target price on shares of Apogee Therapeutics from $82.00 to $97.00 and gave the company a "sector perform" rating in a report on Monday, June 8th. Guggenheim increased their target price on shares of Apogee Therapeutics from $130.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, March 24th. Canaccord Genuity Group increased their target price on shares of Apogee Therapeutics from $89.00 to $130.00 and gave the company a "buy" rating in a report on Tuesday, March 24th. Finally, The Goldman Sachs Group set a $89.00 target price on shares of Apogee Therapeutics in a report on Thursday, May 28th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Apogee Therapeutics has a consensus rating of "Moderate Buy" and a consensus price target of $114.56.

Insiders Place Their Bets

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 20,000 shares of the firm's stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $83.38, for a total value of $1,667,600.00. Following the sale, the chief executive officer owned 1,095,987 shares of the company's stock, valued at $91,383,396.06. This trade represents a 1.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 on Wednesday, June 3rd. The stock was sold at an average price of $78.71, for a total transaction of $432,905.00. Following the completion of the sale, the insider directly owned 205,648 shares in the company, valued at approximately $16,186,554.08. This trade represents a 2.60% 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. In the last three months, insiders sold 76,500 shares of company stock worth $6,323,295. Insiders own 24.30% of the company's stock.

Apogee Therapeutics Stock Performance

APGE stock opened at $88.43 on Thursday. Apogee Therapeutics Inc. has a 52 week low of $34.34 and a 52 week high of $95.32. The firm's fifty day moving average is $84.61 and its 200 day moving average is $77.73. The firm has a market cap of $5.47 billion, a P/E ratio of -20.42 and a beta of 0.62.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last released its earnings results on Monday, May 11th. The company reported ($1.06) EPS for the quarter, beating the consensus estimate of ($1.07) by $0.01. As a group, analysts forecast that Apogee Therapeutics Inc. will post -4.45 EPS for the current year.

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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