Jennison Associates LLC Invests $43.68 Million in Apogee Therapeutics Inc. $APGE

Key Points

• Jennison Associates purchased a new position of 578,627 shares in Apogee Therapeutics (NASDAQ:APGE) valued at about $43.68 million, representing roughly 0.85% ownership at the end of the quarter.
• Analyst sentiment is largely positive with a consensus rating of "Moderate Buy" and a consensus target of $112.73; notable upgrades include Guggenheim to $160 and Citigroup to $125, though Weiss Ratings maintained a sell.
• APGE trades near $80.75 (52‑week range $34.34–$95.32) with a ~$4.99 billion market cap; insiders have recently sold shares (CEO sold 20,000) but still own 42.77% while institutions own 79.04% of the stock.

Jennison Associates LLC purchased a new position in shares of Apogee Therapeutics Inc. (NASDAQ:APGE - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 578,627 shares of the company's stock, valued at approximately $43,675,000. Jennison Associates LLC owned about 0.85% of Apogee Therapeutics at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. State of New Jersey Common Pension Fund D acquired a new stake in shares of Apogee Therapeutics during the 4th quarter worth approximately $821,000. Boyer Financial Services Inc. acquired a new stake in shares of Apogee Therapeutics during the 4th quarter worth approximately $237,000. Comerica Bank increased its holdings in shares of Apogee Therapeutics by 1.0% during the 4th quarter. Comerica Bank now owns 35,872 shares of the company's stock worth $2,708,000 after buying an additional 338 shares during the last quarter. Pictet Asset Management Holding SA acquired a new stake in shares of Apogee Therapeutics during the 4th quarter worth approximately $23,616,000. Finally, UBS Group AG increased its holdings in shares of Apogee Therapeutics by 21.9% during the 4th quarter. UBS Group AG now owns 974,826 shares of the company's stock worth $73,580,000 after buying an additional 175,361 shares during the last quarter. Institutional investors and hedge funds own 79.04% of the company's stock.

Analysts Set New Price Targets

APGE has been the subject of several research reports. Stifel Nicolaus set a $133.00 target price on shares of Apogee Therapeutics in a report on Tuesday, January 6th. Guggenheim lifted 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. Citigroup lifted their target price on shares of Apogee Therapeutics from $95.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, March 24th. UBS Group upgraded shares of Apogee Therapeutics to a "strong-buy" rating in a report on Wednesday, January 7th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Apogee Therapeutics in a report on Monday, April 20th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $112.73.

Apogee Therapeutics Stock Performance

Apogee Therapeutics stock opened at $80.75 on Friday. Apogee Therapeutics Inc. has a fifty-two week low of $34.34 and a fifty-two week high of $95.32. The firm has a 50 day moving average price of $78.89 and a 200 day moving average price of $72.14. The company has a market capitalization of $4.99 billion, a PE ratio of -19.14 and a beta of 0.69.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last posted its quarterly earnings results on Monday, March 2nd. The company reported ($1.03) EPS for the quarter, topping the consensus estimate of ($1.05) by $0.02. As a group, equities research analysts forecast that Apogee Therapeutics Inc. will post -4.57 earnings per share for the current year.

Insider Buying and Selling at Apogee Therapeutics

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 20,000 shares of the business's stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $63.35, for a total value of $1,267,000.00. Following the completion of the transaction, the chief executive officer owned 1,172,987 shares in the company, valued at $74,308,726.45. The trade was a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Carl Dambkowski sold 5,500 shares of the business's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $84.84, for a total transaction of $466,620.00. Following the completion of the transaction, the insider owned 208,398 shares of the company's stock, valued at approximately $17,680,486.32. This trade represents a 2.57% 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 90 days, insiders sold 76,500 shares of company stock valued at $5,633,495. Insiders own 42.77% of the company's stock.

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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