Groupe la Francaise Takes Position in Apogee Therapeutics Inc. $APGE

Key Points

• Groupe la Francaise acquired 84,072 Apogee Therapeutics shares worth approximately $11.2 million in the second quarter, taking a roughly 0.14% stake. Institutional investors and hedge funds collectively own 79.04% of the company.
• Apogee shares opened at $135.07, near their 52-week high of $135.09, while the company reported a quarterly loss of $1.14 per share—$0.07 worse than analyst estimates. Analysts broadly rate the stock “Hold,” with a consensus price target of $126.77.
• Insiders sold 157,400 shares worth approximately $19.9 million during the latest quarter, including substantial sales by the CEO and another insider under pre-arranged Rule 10b5-1 plans.

Groupe la Francaise acquired a new position in Apogee Therapeutics Inc. (NASDAQ:APGE - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 84,072 shares of the company's stock, valued at approximately $11,159,000. Groupe la Francaise owned about 0.14% of Apogee Therapeutics as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of APGE. GAMMA Investing LLC increased its holdings in Apogee Therapeutics by 40.5% in the 2nd quarter. GAMMA Investing LLC now owns 309 shares of the company's stock worth $41,000 after buying an additional 89 shares during the period. Rockefeller Capital Management L.P. purchased a new position in Apogee Therapeutics during the 4th quarter worth approximately $25,000. Los Angeles Capital Management LLC acquired a new stake in Apogee Therapeutics during the 4th quarter valued at approximately $37,000. Longfellow Investment Management Co. LLC acquired a new stake in Apogee Therapeutics during the 2nd quarter valued at approximately $81,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Apogee Therapeutics by 61.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 645 shares of the company's stock valued at $54,000 after acquiring an additional 246 shares during the last quarter. Institutional investors and hedge funds own 79.04% of the company's stock.

Apogee Therapeutics Price Performance

NASDAQ:APGE opened at $135.07 on Monday. The company has a 50 day moving average price of $134.23 and a 200-day moving average price of $101.20. Apogee Therapeutics Inc. has a 1-year low of $35.39 and a 1-year high of $135.09. The firm has a market cap of $8.40 billion, a price-to-earnings ratio of -31.12 and a beta of 0.33.

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

Insider Transactions at Apogee Therapeutics

In other news, insider Carl Dambkowski sold 26,400 shares of the firm's stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $132.60, for a total transaction of $3,500,640.00. Following the sale, the insider directly owned 179,248 shares in the company, valued at $23,768,284.80. This trade represents a 12.84% decrease in their position. The transaction 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, CEO Michael Henderson sold 80,000 shares of Apogee Therapeutics stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $132.54, for a total value of $10,603,200.00. Following the completion of the transaction, the chief executive officer owned 1,015,987 shares of the company's stock, valued at approximately $134,658,916.98. This represents a 7.30% 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 quarter, insiders sold 157,400 shares of company stock valued at $19,912,045. Insiders own 24.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on APGE shares. Royal Bank Of Canada increased their price objective on shares of Apogee Therapeutics from $82.00 to $97.00 and gave the stock a "sector perform" rating in a research note on Monday, June 8th. Truist Financial upped their price target on shares of Apogee Therapeutics from $81.00 to $135.00 and gave the company a "hold" rating in a report on Thursday, August 13th. TD Cowen lowered shares of Apogee Therapeutics from a "buy" rating to a "hold" rating in a report on Tuesday, June 23rd. Stifel Nicolaus reaffirmed a "hold" rating and set a $135.00 price target (up from $133.00) on shares of Apogee Therapeutics in a research report on Wednesday, June 24th. Finally, Mizuho reiterated a "neutral" rating and set a $135.00 price objective (up from $110.00) on shares of Apogee Therapeutics in a research note on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Apogee Therapeutics currently has a consensus rating of "Hold" and a consensus price target of $126.77.

Apogee Therapeutics Company 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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