Vanguard Group Inc. Has $215.71 Million Stock Holdings in Apogee Therapeutics Inc. $APGE

Key Points

• Vanguard Group increased its Apogee Therapeutics stake by 27.3% in the fourth quarter, ending with 2.86 million shares worth about $215.7 million and representing 4.18% of the company.
• Insider selling has continued, including CEO Michael Thomas Henderson selling 20,000 shares and insider Carl Dambkowski selling 5,500 shares under pre-arranged Rule 10b5-1 plans. Over the last three months, insiders sold 76,500 shares total.
• Analysts remain broadly bullish on APGE, with a consensus rating of “Moderate Buy” and an average price target of $112.73. The company also reported a smaller-than-expected quarterly loss and is developing its lead candidate APG-157 for plaque psoriasis.

Vanguard Group Inc. boosted its stake in shares of Apogee Therapeutics Inc. (NASDAQ:APGE - Free Report) by 27.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,857,824 shares of the company's stock after purchasing an additional 612,193 shares during the period. Vanguard Group Inc. owned 4.18% of Apogee Therapeutics worth $215,709,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the company. ANTIPODES PARTNERS Ltd lifted its stake in Apogee Therapeutics by 41.2% in the third quarter. ANTIPODES PARTNERS Ltd now owns 843 shares of the company's stock valued at $33,000 after acquiring an additional 246 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Apogee Therapeutics by 2.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,529 shares of the company's stock valued at $921,000 after acquiring an additional 694 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Apogee Therapeutics by 10.6% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,935 shares of the company's stock valued at $674,000 after acquiring an additional 853 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Apogee Therapeutics by 49.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,665 shares of the company's stock valued at $201,000 after acquiring an additional 882 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Apogee Therapeutics by 34.7% in the second quarter. BNP Paribas Financial Markets now owns 3,649 shares of the company's stock valued at $158,000 after acquiring an additional 941 shares during the last quarter. Institutional investors and hedge funds own 79.04% of the company's stock.

Insider Activity at Apogee Therapeutics

In related news, CEO Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $82.58, for a total transaction of $1,651,600.00. Following the completion of the sale, the chief executive officer directly owned 1,132,987 shares of the company's stock, valued at approximately $93,562,066.46. This trade represents a 1.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $84.14, for a total value of $462,770.00. Following the sale, the insider directly owned 207,023 shares of the company's stock, valued at approximately $17,418,915.22. The trade was a 2.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 76,500 shares of company stock valued at $5,734,420. 24.30% of the stock is currently owned by insiders.

Apogee Therapeutics Stock Performance

NASDAQ APGE opened at $83.03 on Friday. The firm has a 50-day moving average of $79.69 and a 200-day moving average of $73.01. The stock has a market cap of $5.14 billion, a PE ratio of -19.68 and a beta of 0.69. Apogee Therapeutics Inc. has a 52-week low of $34.34 and a 52-week high of $95.32.

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

Wall Street Analysts Forecast Growth

APGE has been the subject of a number of recent analyst reports. Jefferies Financial Group reiterated a "buy" rating and issued a $95.00 price target on shares of Apogee Therapeutics in a research note on Monday, February 2nd. Canaccord Genuity Group lifted their target price on Apogee Therapeutics from $89.00 to $130.00 and gave the stock a "buy" rating in a research note on Tuesday, March 24th. Citigroup lifted their target price on Apogee Therapeutics from $95.00 to $125.00 and gave the stock a "buy" rating in a research note on Tuesday, March 24th. Rothschild & Co Redburn started coverage on Apogee Therapeutics in a research note on Friday, May 1st. They set a "buy" rating and a $140.00 target price for the company. Finally, Wedbush lifted their target price on Apogee Therapeutics from $90.00 to $95.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Apogee Therapeutics has a consensus rating of "Moderate Buy" and an average target price 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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