B Group Inc. Decreases Position in Apogee Therapeutics Inc. $APGE

Key Points

• B Group Inc. cut its Apogee Therapeutics stake by 42.9% in the fourth quarter, selling 15,000 shares and leaving it with 20,000 shares worth about $1.51 million.
• Institutional ownership remains heavy, with hedge funds and other investors holding 79.04% of the stock, even as several firms recently adjusted their positions.
• Wall Street sentiment is still broadly positive: analysts have a Moderate Buy consensus on APGE with an average target price of $114.56, while insiders have also been selling shares in recent months.

B Group Inc. lowered its stake in shares of Apogee Therapeutics Inc. (NASDAQ:APGE - Free Report) by 42.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,000 shares of the company's stock after selling 15,000 shares during the period. Apogee Therapeutics accounts for 1.1% of B Group Inc.'s investment portfolio, making the stock its 15th biggest holding. B Group Inc.'s holdings in Apogee Therapeutics were worth $1,510,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Commonwealth Equity Services LLC raised its position in shares of Apogee Therapeutics by 2.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 7,151 shares of the company's stock valued at $540,000 after purchasing an additional 152 shares during the period. Stifel Financial Corp raised its position in shares of Apogee Therapeutics by 3.5% in the fourth quarter. Stifel Financial Corp now owns 5,214 shares of the company's stock valued at $394,000 after purchasing an additional 175 shares during the period. ANTIPODES PARTNERS Ltd raised its position in shares of Apogee Therapeutics by 41.2% in the third quarter. ANTIPODES PARTNERS Ltd now owns 843 shares of the company's stock valued at $33,000 after purchasing an additional 246 shares during the period. Comerica Bank raised its position in shares of Apogee Therapeutics by 1.0% in the fourth quarter. Comerica Bank now owns 35,872 shares of the company's stock valued at $2,708,000 after purchasing an additional 338 shares during the period. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Apogee Therapeutics in the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 79.04% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on APGE. Guggenheim boosted their price target on shares of Apogee Therapeutics from $130.00 to $160.00 and gave the company a "buy" rating in a research report on Tuesday, March 24th. Rothschild & Co Redburn began coverage on shares of Apogee Therapeutics in a research report on Friday, May 1st. They issued a "buy" rating and a $140.00 price target on the stock. Truist Financial lowered their price target on shares of Apogee Therapeutics from $83.00 to $81.00 and set a "hold" rating on the stock in a research report on Wednesday, May 27th. Wedbush boosted their price target on shares of Apogee Therapeutics from $120.00 to $135.00 and gave the company an "outperform" rating in a research report on Wednesday, May 27th. Finally, The Goldman Sachs Group set a $89.00 price target on shares of Apogee Therapeutics in a research 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 assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $114.56.

Insider Activity at Apogee Therapeutics

In related news, insider Carl Dambkowski sold 5,500 shares of the business's stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $78.71, for a total transaction of $432,905.00. Following the completion of the transaction, the insider owned 205,648 shares of the company's stock, valued at approximately $16,186,554.08. The trade was a 2.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 that occurred on Wednesday, April 8th. The shares were sold at an average price of $82.58, for a total transaction of $1,651,600.00. Following the transaction, the chief executive officer directly owned 1,132,987 shares of the company's stock, valued at approximately $93,562,066.46. This represents a 1.73% 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. In the last ninety days, insiders have sold 76,500 shares of company stock valued at $6,323,295. 24.30% of the stock is owned by corporate insiders.

Apogee Therapeutics Trading Down 1.1%

Shares of NASDAQ:APGE opened at $85.24 on Wednesday. The company has a 50 day moving average of $84.52 and a 200 day moving average of $77.61. The stock has a market cap of $5.28 billion, a P/E ratio of -19.69 and a beta of 0.62. Apogee Therapeutics Inc. has a 12 month low of $34.34 and a 12 month high of $95.32.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last issued its quarterly earnings data on Monday, May 11th. The company reported ($1.06) EPS for the quarter, beating the consensus estimate of ($1.07) by $0.01. On average, equities analysts forecast that Apogee Therapeutics Inc. will post -4.45 earnings per share for the current fiscal year.

Apogee Therapeutics 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.

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