TD Asset Management Inc Has $9.76 Million Position in Apogee Therapeutics Inc. $APGE

Key Points

• TD Asset Management increased its Apogee Therapeutics stake by 55.3% in the fourth quarter, ending with 129,290 shares valued at about $9.76 million.
• Apogee Therapeutics reported a smaller-than-expected quarterly loss of ($1.06) per share, beating analyst estimates by $0.01, while analysts currently maintain a Moderate Buy consensus with a $114.56 average price target.
• Insiders have been selling shares recently, including CEO Michael Thomas Henderson and insider Carl Dambkowski, while institutional investors still own about 79.04% of the company.

TD Asset Management Inc boosted its holdings in Apogee Therapeutics Inc. (NASDAQ:APGE - Free Report) by 55.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 129,290 shares of the company's stock after purchasing an additional 46,050 shares during the quarter. TD Asset Management Inc owned about 0.19% of Apogee Therapeutics worth $9,759,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Seven Grand Managers LLC acquired a new stake in Apogee Therapeutics in the 4th quarter valued at $3,774,000. Geode Capital Management LLC boosted its holdings in Apogee Therapeutics by 18.7% during the 4th quarter. Geode Capital Management LLC now owns 1,059,085 shares of the company's stock worth $79,957,000 after acquiring an additional 166,882 shares during the last quarter. Legato Capital Management LLC purchased a new position in Apogee Therapeutics during the 4th quarter worth $1,023,000. PSP Research LLC purchased a new position in Apogee Therapeutics during the 4th quarter worth $527,000. Finally, Handelsbanken Fonder AB boosted its holdings in Apogee Therapeutics by 49.4% during the 4th quarter. Handelsbanken Fonder AB now owns 12,700 shares of the company's stock worth $959,000 after acquiring an additional 4,200 shares during the last quarter. Institutional investors and hedge funds own 79.04% of the company's stock.

Apogee Therapeutics Stock Performance

Shares of NASDAQ:APGE opened at $85.00 on Wednesday. The company's 50-day moving average is $84.20 and its 200 day moving average is $76.95. The company has a market capitalization of $5.26 billion, a P/E ratio of -19.63 and a beta of 0.62. Apogee Therapeutics Inc. has a fifty-two week low of $34.34 and a fifty-two week high of $95.32.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The company reported ($1.06) earnings per share for the quarter, topping analysts' consensus estimates of ($1.07) by $0.01. As a group, research analysts predict that Apogee Therapeutics Inc. will post -4.45 earnings per share for the current year.

Analyst Ratings Changes

APGE has been the topic of a number of analyst reports. The Goldman Sachs Group set a $89.00 price objective on shares of Apogee Therapeutics in a report on Thursday, May 28th. Canaccord Genuity Group lifted their price objective on shares of Apogee Therapeutics from $89.00 to $130.00 and gave the stock a "buy" rating in a report on Tuesday, March 24th. Rothschild & Co Redburn initiated coverage on shares of Apogee Therapeutics in a report on Friday, May 1st. They set a "buy" rating and a $140.00 price objective on the stock. Wedbush lifted their price objective on shares of Apogee Therapeutics from $120.00 to $135.00 and gave the stock an "outperform" rating in a report on Wednesday, May 27th. Finally, BTIG Research reaffirmed a "buy" rating and set a $137.00 price objective on shares of Apogee Therapeutics in a report on Wednesday, May 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $114.56.

Insider Transactions at Apogee Therapeutics

In related news, CEO Michael Thomas Henderson sold 20,000 shares of the business's stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $82.58, for a total value of $1,651,600.00. Following the transaction, the chief executive officer directly owned 1,132,987 shares of the company's stock, valued at approximately $93,562,066.46. The trade was a 1.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 business's stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $78.71, for a total transaction of $432,905.00. Following the completion of the transaction, the insider directly owned 205,648 shares in the company, valued at $16,186,554.08. This trade represents a 2.60% 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. Insiders sold a total of 56,500 shares of company stock worth $4,655,695 over the last three months. 24.30% of the stock is 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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