Maven Securities LTD Acquires 90,018 Shares of Apogee Therapeutics Inc. $APGE

Key Points

• Maven Securities increased its Apogee Therapeutics stake by 360.1% in the second quarter, acquiring 90,018 additional shares for a total of 115,018 shares valued at approximately $15.3 million.
• Apogee shares opened at $135.07, near their 52-week high, while the company reported a quarterly loss of $1.14 per share that missed analyst expectations. Analysts hold a consensus “Hold” rating with a $126.77 price target.
• Insiders sold 137,400 shares worth roughly $18.2 million over the past three months, although institutional investors own 79.04% of the company. Apogee’s lead candidate, APG-157, is in early-stage clinical testing for plaque psoriasis.

Maven Securities LTD raised its holdings in Apogee Therapeutics Inc. (NASDAQ:APGE - Free Report) by 360.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 115,018 shares of the company's stock after acquiring an additional 90,018 shares during the period. Apogee Therapeutics comprises about 0.3% of Maven Securities LTD's investment portfolio, making the stock its 24th largest holding. Maven Securities LTD owned about 0.18% of Apogee Therapeutics worth $15,266,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Rockefeller Capital Management L.P. bought a new position in shares of Apogee Therapeutics during the 4th quarter valued at about $25,000. Los Angeles Capital Management LLC bought a new stake in Apogee Therapeutics during the 4th quarter worth approximately $37,000. GAMMA Investing LLC increased its stake in Apogee Therapeutics by 40.5% during the 2nd quarter. GAMMA Investing LLC now owns 309 shares of the company's stock worth $41,000 after purchasing an additional 89 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Apogee Therapeutics by 61.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 645 shares of the company's stock worth $54,000 after purchasing an additional 246 shares in the last quarter. Finally, Longfellow Investment Management Co. LLC acquired a new stake in Apogee Therapeutics during the 2nd quarter worth approximately $81,000. 79.04% of the stock is currently owned by institutional investors.

Apogee Therapeutics Stock Performance

NASDAQ APGE opened at $135.07 on Wednesday. Apogee Therapeutics Inc. has a 52 week low of $35.39 and a 52 week high of $135.09. The stock's 50 day moving average price is $134.33 and its two-hundred day moving average price is $102.11. The stock has a market capitalization 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 issued its quarterly 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). On average, equities research analysts forecast that Apogee Therapeutics Inc. will post -4.47 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on APGE. Citigroup lowered shares of Apogee Therapeutics from a "buy" rating to a "neutral" rating and lifted their price target for the company from $125.00 to $135.00 in a research note on Tuesday, June 23rd. Canaccord Genuity Group lowered shares of Apogee Therapeutics from a "buy" rating to a "hold" rating and raised their price objective for the stock from $130.00 to $135.11 in a report on Monday, June 22nd. The Goldman Sachs Group set a $89.00 price objective on shares of Apogee Therapeutics in a research report on Thursday, May 28th. BTIG Research lowered shares of Apogee Therapeutics from a "buy" rating to a "neutral" rating in a research note on Wednesday, August 12th. Finally, UBS Group cut Apogee Therapeutics from a "buy" rating to a "neutral" rating and increased their target price for the stock from $100.00 to $135.11 in a report on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $126.77.

Insiders Place Their Bets

In other Apogee Therapeutics news, insider Carl Dambkowski sold 5,500 shares of Apogee Therapeutics 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. The trade was a 3.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Henderson sold 20,000 shares of the business's stock in a transaction dated 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 in the company, valued at $133,093,742.81. This trade represents a 1.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 137,400 shares of company stock worth $18,244,445. 24.30% of the stock is currently owned by insiders.

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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