Exane Asset Management Invests $2.05 Million in Apogee Therapeutics Inc. $APGE

Exane Asset Management acquired a new stake in Apogee Therapeutics Inc. (NASDAQ:APGE) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 51,543 shares of the company’s stock, valued at approximately $2,048,000. Apogee Therapeutics comprises 0.7% of Exane Asset Management’s investment portfolio, making the stock its 13th largest holding. Exane Asset Management owned 0.11% of Apogee Therapeutics at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Alliancebernstein L.P. boosted its stake in shares of Apogee Therapeutics by 8.4% during the 2nd quarter. Alliancebernstein L.P. now owns 1,388,149 shares of the company’s stock worth $60,287,000 after acquiring an additional 107,199 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its position in Apogee Therapeutics by 77.5% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,290,464 shares of the company’s stock worth $56,045,000 after purchasing an additional 563,464 shares during the period. Perceptive Advisors LLC grew its holdings in Apogee Therapeutics by 5.3% during the second quarter. Perceptive Advisors LLC now owns 1,182,148 shares of the company’s stock valued at $51,341,000 after purchasing an additional 59,381 shares during the last quarter. Jefferies Financial Group Inc. raised its position in shares of Apogee Therapeutics by 52.3% in the second quarter. Jefferies Financial Group Inc. now owns 642,357 shares of the company’s stock valued at $27,898,000 after purchasing an additional 220,561 shares during the period. Finally, Frontier Capital Management Co. LLC lifted its stake in shares of Apogee Therapeutics by 184.0% in the second quarter. Frontier Capital Management Co. LLC now owns 309,066 shares of the company’s stock worth $13,423,000 after buying an additional 200,249 shares during the last quarter. 79.04% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Apogee Therapeutics news, Director Fairmount Funds Management Llc sold 1,750,000 shares of Apogee Therapeutics stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $76.30, for a total transaction of $133,525,000.00. Following the sale, the director owned 298,647 shares in the company, valued at $22,786,766.10. The trade was a 85.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Carl Dambkowski sold 18,700 shares of the stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $77.84, for a total transaction of $1,455,608.00. Following the completion of the transaction, the insider owned 212,523 shares of the company’s stock, valued at approximately $16,542,790.32. This represents a 8.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,890,385 shares of company stock valued at $143,782,438 over the last ninety days. 42.77% of the stock is owned by company insiders.

Analysts Set New Price Targets

APGE has been the topic of a number of research analyst reports. Mizuho started coverage on shares of Apogee Therapeutics in a research note on Tuesday, October 21st. They issued an “outperform” rating and a $105.00 target price on the stock. Craig Hallum reaffirmed a “buy” rating and issued a $116.00 price target on shares of Apogee Therapeutics in a research report on Wednesday, January 7th. Deutsche Bank Aktiengesellschaft initiated coverage on Apogee Therapeutics in a research report on Tuesday, December 9th. They set a “buy” rating and a $103.00 price objective for the company. Stifel Nicolaus set a $133.00 target price on Apogee Therapeutics in a report on Tuesday, January 6th. Finally, UBS Group upgraded Apogee Therapeutics to a “strong-buy” rating in a report on Wednesday, January 7th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Apogee Therapeutics has an average rating of “Moderate Buy” and an average target price of $105.45.

Apogee Therapeutics Stock Up 3.4%

APGE stock opened at $72.38 on Wednesday. Apogee Therapeutics Inc. has a twelve month low of $26.20 and a twelve month high of $84.56. The company has a market cap of $4.95 billion, a PE ratio of -16.53 and a beta of 1.41. The business’s 50-day simple moving average is $75.37 and its 200 day simple moving average is $55.02.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly earnings data on Monday, November 10th. The company reported ($1.11) EPS for the quarter, topping analysts’ consensus estimates of ($1.14) by $0.03. On average, equities research analysts anticipate that Apogee Therapeutics Inc. will post -3.09 EPS for the current year.

About Apogee Therapeutics

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.