UBS Group AG Boosts Stock Position in Apogee Therapeutics Inc. $APGE

Key Points

• UBS Group AG increased its stake in Apogee Therapeutics by 21.9% in Q4 to 974,826 shares, representing 1.43% of the company and valued at about $73.58 million.
• Institutional investors own 79.04% of APGE, while insiders have sold 76,500 shares worth $5.63 million over the past three months and currently hold 24.30% of the stock.
• Analyst sentiment is largely positive: MarketBeat's consensus is a Moderate Buy with an average price target of $112.73, and several firms have recently raised targets (e.g., Canaccord $130, Rothschild $140; UBS rates it "strong-buy").

UBS Group AG grew its stake in shares of Apogee Therapeutics Inc. (NASDAQ:APGE - Free Report) by 21.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 974,826 shares of the company's stock after buying an additional 175,361 shares during the period. UBS Group AG owned 1.43% of Apogee Therapeutics worth $73,580,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. ANTIPODES PARTNERS Ltd lifted its position in shares of Apogee Therapeutics by 41.2% during the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 843 shares of the company's stock valued at $33,000 after buying an additional 246 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position 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 valued at $921,000 after buying an additional 694 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of Apogee Therapeutics by 10.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,935 shares of the company's stock valued at $674,000 after buying an additional 853 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Apogee Therapeutics by 49.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,665 shares of the company's stock valued at $201,000 after buying an additional 882 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Apogee Therapeutics by 34.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,649 shares of the company's stock valued at $158,000 after buying an additional 941 shares in the last quarter. 79.04% of the stock is owned by hedge funds and other institutional investors.

Apogee Therapeutics Stock Performance

NASDAQ APGE opened at $80.75 on Monday. The stock's 50 day moving average is $78.89 and its 200 day moving average is $72.41. Apogee Therapeutics Inc. has a 12 month low of $34.34 and a 12 month high of $95.32. The stock has a market cap 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 analysts' consensus estimates of ($1.05) by $0.02. On average, analysts forecast that Apogee Therapeutics Inc. will post -4.57 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Carl Dambkowski sold 5,500 shares of the business's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $84.84, for a total value of $466,620.00. Following the transaction, the insider directly owned 208,398 shares of the company's stock, valued at approximately $17,680,486.32. The trade was a 2.57% decrease in their position. The transaction was disclosed in a document filed 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 Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $63.35, for a total value of $1,267,000.00. Following the completion of the sale, the chief executive officer directly owned 1,172,987 shares in the company, valued at approximately $74,308,726.45. The trade was a 1.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 76,500 shares of company stock worth $5,633,495. 24.30% of the stock is owned by insiders.

Analyst Ratings Changes

APGE has been the topic of a number of analyst reports. Canaccord Genuity Group lifted their price objective on Apogee Therapeutics from $89.00 to $130.00 and gave the company a "buy" rating in a research report on Tuesday, March 24th. Rothschild & Co Redburn initiated coverage on Apogee Therapeutics in a research report on Friday. They set a "buy" rating and a $140.00 price objective on the stock. UBS Group raised Apogee Therapeutics to a "strong-buy" rating in a research report on Wednesday, January 7th. Wedbush boosted their price target on Apogee Therapeutics from $90.00 to $95.00 and gave the stock an "outperform" rating in a report on Tuesday, March 3rd. Finally, Mizuho boosted their price target on Apogee Therapeutics from $105.00 to $110.00 and gave the stock an "outperform" rating in a report on Monday, March 30th. Three analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Apogee Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $112.73.

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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