Janus Henderson Group PLC Buys 297,992 Shares of Apogee Therapeutics Inc. $APGE

Key Points

• Janus Henderson increased its Apogee Therapeutics stake by 14.4%, buying 297,992 shares to own 2.36 million shares, or 3.81% of the company. Institutional investors collectively hold 79.04% of APGE.
• Analyst sentiment is largely neutral: Apogee has an average “Hold” rating and a consensus price target of $121.25, despite targets ranging as high as $135.11.
• Company insiders sold 182,900 shares worth $21.7 million over the past 90 days, including sales by the CEO and another insider. APGE opened at $134.30, near its 12-month high of $134.46, while its lead drug candidate is undergoing early-stage testing for plaque psoriasis.

Janus Henderson Group PLC raised its stake in shares of Apogee Therapeutics Inc. (NASDAQ:APGE - Free Report) by 14.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,360,596 shares of the company's stock after purchasing an additional 297,992 shares during the period. Janus Henderson Group PLC owned 3.81% of Apogee Therapeutics worth $198,809,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of APGE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Apogee Therapeutics by 2.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,529 shares of the company's stock worth $921,000 after buying an additional 694 shares during the period. Millennium Management LLC raised its holdings in Apogee Therapeutics by 100.0% in the 1st quarter. Millennium Management LLC now owns 260,335 shares of the company's stock worth $9,726,000 after acquiring an additional 130,164 shares during the period. Creative Planning bought a new position in Apogee Therapeutics in the 2nd quarter worth $392,000. Legal & General Group Plc lifted its position in Apogee Therapeutics by 7.4% during the 2nd quarter. Legal & General Group Plc now owns 27,689 shares of the company's stock worth $1,203,000 after acquiring an additional 1,907 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Apogee Therapeutics by 10,570.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 21,768 shares of the company's stock worth $945,000 after acquiring an additional 21,564 shares during the last quarter. Institutional investors own 79.04% of the company's stock.

Analyst Upgrades and Downgrades

APGE has been the topic of several research analyst reports. Royal Bank Of Canada raised their price target on Apogee Therapeutics from $82.00 to $97.00 and gave the company a "sector perform" rating in a research report on Monday, June 8th. Weiss Ratings reissued a "sell (d-)" rating on shares of Apogee Therapeutics in a research report on Friday, July 17th. UBS Group downgraded Apogee Therapeutics from a "buy" rating to a "neutral" rating and increased their target price for the company from $100.00 to $135.11 in a research note on Tuesday, June 23rd. The Goldman Sachs Group set a $89.00 target price on Apogee Therapeutics in a report on Thursday, May 28th. Finally, Craig Hallum set a $135.11 price target on Apogee Therapeutics and gave the stock a "hold" rating in a research report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Apogee Therapeutics presently has an average rating of "Hold" and an average price target of $121.25.

Insider Buying and Selling 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 shares were sold at an average price of $132.60, for a total transaction of $3,500,640.00. Following the completion of the transaction, the insider directly owned 179,248 shares of the company's stock, valued at approximately $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 accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Thomas Henderson sold 80,000 shares of the firm's stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $132.54, for a total transaction of $10,603,200.00. Following the transaction, the chief executive officer directly owned 1,015,987 shares of the company's stock, valued at $134,658,916.98. The trade was a 7.30% 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. Over the last ninety days, insiders sold 182,900 shares of company stock valued at $21,711,585. 24.30% of the stock is owned by company insiders.

Apogee Therapeutics Stock Up 0.1%

Apogee Therapeutics stock opened at $134.30 on Friday. The business has a 50 day moving average price of $112.89 and a two-hundred day moving average price of $89.67. Apogee Therapeutics Inc. has a 12 month low of $34.34 and a 12 month high of $134.46. The stock has a market cap of $8.31 billion, a price-to-earnings ratio of -31.02 and a beta of 0.32.

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

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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