Mint Tower Capital Management B.V. Makes New Investment in Apogee Therapeutics Inc. $APGE

Mint Tower Capital Management B.V. bought a new position in Apogee Therapeutics Inc. (NASDAQ:APGE - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,472 shares of the company's stock, valued at approximately $2,186,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. TD Asset Management Inc raised its stake in Apogee Therapeutics by 55.3% during the 4th quarter. TD Asset Management Inc now owns 129,290 shares of the company's stock valued at $9,759,000 after acquiring an additional 46,050 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Apogee Therapeutics by 27.3% in the 4th quarter. Vanguard Group Inc. now owns 2,857,824 shares of the company's stock valued at $215,709,000 after purchasing an additional 612,193 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Apogee Therapeutics by 7.3% in the 1st quarter. Bank of New York Mellon Corp now owns 126,757 shares of the company's stock valued at $10,669,000 after purchasing an additional 8,673 shares during the last quarter. Alberta Investment Management Corp acquired a new position in shares of Apogee Therapeutics in the second quarter valued at approximately $9,955,000. Finally, Bank of America Corp DE increased its holdings in shares of Apogee Therapeutics by 13.5% in the first quarter. Bank of America Corp DE now owns 900,871 shares of the company's stock valued at $75,826,000 after purchasing an additional 107,176 shares during the period. 79.04% of the stock is currently owned by institutional investors.

Apogee Therapeutics Price Performance

APGE opened at $134.97 on Friday. The business has a 50 day simple moving average of $133.99 and a 200-day simple moving average of $98.55. The stock has a market capitalization of $8.40 billion, a P/E ratio of -31.10 and a beta of 0.34. Apogee Therapeutics Inc. has a 12 month low of $35.39 and a 12 month high of $134.99.

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on APGE. Guggenheim downgraded Apogee Therapeutics from a "buy" rating to a "neutral" rating in a report on Tuesday, June 23rd. Stifel Nicolaus reissued a "hold" rating and issued a $135.00 price objective (up from $133.00) on shares of Apogee Therapeutics in a research note on Wednesday, June 24th. BTIG Research downgraded shares of Apogee Therapeutics from a "buy" rating to a "neutral" rating in a research report on Wednesday, August 12th. UBS Group cut shares of Apogee Therapeutics from a "buy" rating to a "neutral" rating and raised their target price for the stock from $100.00 to $135.11 in a research note on Tuesday, June 23rd. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Apogee Therapeutics in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $126.77.

Insiders Place Their Bets

In other news, CEO Michael Thomas Henderson sold 20,000 shares of the stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $133.63, for a total value of $2,672,600.00. Following the completion of the transaction, the chief executive officer owned 995,987 shares in the company, valued at $133,093,742.81. This trade represents a 1.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Carl Dambkowski sold 5,500 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $134.17, for a total transaction of $737,935.00. Following the completion of the transaction, the insider owned 168,498 shares of the company's stock, valued at $22,607,376.66. This represents a 3.16% decrease in their position. 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. In the last three months, insiders sold 162,900 shares of company stock valued at $20,344,950. 24.30% of the stock is owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source