B. Metzler seel. Sohn & Co. AG Takes Position in Apogee Therapeutics Inc. $APGE

B. Metzler seel. Sohn & Co. AG purchased a new position in Apogee Therapeutics Inc. (NASDAQ:APGE - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 11,693 shares of the company's stock, valued at approximately $1,552,000.

Several other large investors have also recently made changes to their positions in APGE. Rockefeller Capital Management L.P. purchased a new position in Apogee Therapeutics in the 4th quarter valued at $25,000. Los Angeles Capital Management LLC purchased a new stake in shares of Apogee Therapeutics during the fourth quarter worth $37,000. GAMMA Investing LLC grew its holdings in shares of Apogee Therapeutics by 40.5% during the second quarter. GAMMA Investing LLC now owns 309 shares of the company's stock worth $41,000 after buying an additional 89 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Apogee Therapeutics by 61.7% in the first quarter. EverSource Wealth Advisors LLC now owns 645 shares of the company's stock valued at $54,000 after buying an additional 246 shares during the last quarter. Finally, Longfellow Investment Management Co. LLC acquired a new stake in shares of Apogee Therapeutics in the second quarter valued at about $81,000. 79.04% of the stock is currently owned by hedge funds and other institutional investors.

Apogee Therapeutics Stock Performance

Apogee Therapeutics stock opened at $134.75 on Monday. The company's 50 day simple moving average is $129.31 and its 200-day simple moving average is $96.31. The company has a market capitalization of $8.38 billion, a price-to-earnings ratio of -31.05 and a beta of 0.34. Apogee Therapeutics Inc. has a 1 year low of $35.39 and a 1 year high of $134.88.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last released its earnings results 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). Equities analysts expect that Apogee Therapeutics Inc. will post -4.47 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on APGE shares. Truist Financial boosted their price target on shares of Apogee Therapeutics from $81.00 to $135.00 and gave the stock a "hold" rating in a research report on Thursday, August 13th. Canaccord Genuity Group downgraded shares of Apogee Therapeutics from a "buy" rating to a "hold" rating and increased their price objective for the company from $130.00 to $135.11 in a report on Monday, June 22nd. Craig Hallum set a $135.11 target price on shares of Apogee Therapeutics and gave the stock a "hold" rating in a research note on Monday, June 22nd. Stifel Nicolaus restated a "hold" rating and set a $135.00 target price (up from $133.00) on shares of Apogee Therapeutics in a report on Wednesday, June 24th. Finally, Citigroup lowered Apogee Therapeutics from a "buy" rating to a "neutral" rating and upped their price target for the company from $125.00 to $135.00 in a research report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Apogee Therapeutics presently has a consensus rating of "Hold" and a consensus price target of $124.43.

Insider Buying and Selling

In other news, insider Carl Dambkowski sold 5,500 shares of the firm's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $134.17, for a total value of $737,935.00. Following the sale, the insider directly owned 168,498 shares in the company, valued at approximately $22,607,376.66. This trade represents a 3.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $133.63, for a total transaction of $2,672,600.00. Following the sale, the chief executive officer directly owned 995,987 shares of the company's stock, valued at approximately $133,093,742.81. This trade represents a 1.97% decrease in their ownership of the stock. 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. Insiders have sold 162,900 shares of company stock worth $20,344,950 over the last 90 days. Insiders own 24.30% of the company's stock.

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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