Banque Pictet & Cie SA Invests $3.16 Million in Apogee Therapeutics Inc. $APGE

Banque Pictet & Cie SA purchased a new position in Apogee Therapeutics Inc. (NASDAQ:APGE) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 41,800 shares of the company’s stock, valued at approximately $3,155,000. Banque Pictet & Cie SA owned about 0.06% of Apogee Therapeutics as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in APGE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings 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 worth $921,000 after acquiring an additional 694 shares in the last quarter. Millennium Management LLC grew its stake in shares of Apogee Therapeutics by 100.0% in the first quarter. Millennium Management LLC now owns 260,335 shares of the company’s stock worth $9,726,000 after acquiring an additional 130,164 shares during the last quarter. Creative Planning bought a new position in shares of Apogee Therapeutics during the second quarter valued at $392,000. Legal & General Group Plc raised its position in shares of Apogee Therapeutics by 7.4% in the 2nd quarter. Legal & General Group Plc now owns 27,689 shares of the company’s stock worth $1,203,000 after purchasing an additional 1,907 shares during the last quarter. Finally, Prudential Financial Inc. raised its position in shares of Apogee Therapeutics by 176.4% in the 2nd quarter. Prudential Financial Inc. now owns 68,845 shares of the company’s stock worth $2,990,000 after purchasing an additional 43,940 shares during the last quarter. Institutional investors own 79.04% of the company’s stock.

Insider Buying and Selling

In related news, CEO Michael Thomas Henderson sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $74.78, for a total value of $1,495,600.00. Following the transaction, the chief executive officer owned 1,152,987 shares of the company’s stock, valued at approximately $86,220,367.86. This trade represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Carl Dambkowski sold 18,700 shares of the business’s stock in a transaction that occurred 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 sale, the insider owned 212,523 shares of the company’s stock, valued at $16,542,790.32. This trade represents a 8.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 1,839,700 shares of company stock valued at $140,118,083. 42.77% of the stock is owned by insiders.

Apogee Therapeutics Price Performance

Shares of APGE opened at $84.34 on Friday. The firm has a market capitalization of $5.86 billion, a P/E ratio of -19.99 and a beta of 1.02. Apogee Therapeutics Inc. has a one year low of $26.20 and a one year high of $85.94. The business has a fifty day moving average of $71.12 and a 200 day moving average of $65.68.

Apogee Therapeutics (NASDAQ:APGE) last posted its earnings results on Monday, March 2nd. The company reported ($1.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.05) by $0.02. Analysts expect that Apogee Therapeutics Inc. will post -3.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on APGE. Craig Hallum reissued a “buy” rating and set a $116.00 price objective on shares of Apogee Therapeutics in a research report on Wednesday, January 7th. Wedbush lifted their target price on shares of Apogee Therapeutics from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, March 3rd. Stifel Nicolaus set a $133.00 target price on shares of Apogee Therapeutics in a research note on Tuesday, January 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Apogee Therapeutics in a report on Wednesday, January 21st. Finally, UBS Group raised shares of Apogee Therapeutics to a “strong-buy” rating in a research report on Wednesday, January 7th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.79.

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.