Affinity Asset Advisors LLC Acquires 50,000 Shares of Apogee Therapeutics Inc. $APGE

Affinity Asset Advisors LLC grew its stake in Apogee Therapeutics Inc. (NASDAQ:APGE) by 4.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,284,926 shares of the company’s stock after purchasing an additional 50,000 shares during the period. Apogee Therapeutics makes up approximately 5.6% of Affinity Asset Advisors LLC’s holdings, making the stock its largest holding. Affinity Asset Advisors LLC owned approximately 2.08% of Apogee Therapeutics worth $108,152,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Rockefeller Capital Management L.P. bought a new stake in Apogee Therapeutics during the fourth quarter worth about $25,000. Los Angeles Capital Management LLC acquired a new position in shares of Apogee Therapeutics in the 4th quarter worth approximately $37,000. Seven Fleet Capital Management LP acquired a new position in shares of Apogee Therapeutics in the 4th quarter worth approximately $136,000. Ensign Peak Advisors Inc bought a new stake in Apogee Therapeutics during the 4th quarter worth approximately $170,000. Finally, Quantbot Technologies LP bought a new stake in Apogee Therapeutics during the 3rd quarter worth approximately $96,000. 79.04% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Apogee Therapeutics

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 80,000 shares of Apogee Therapeutics stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $132.54, for a total value of $10,603,200.00. Following the sale, the chief executive officer directly owned 1,015,987 shares in the company, valued at approximately $134,658,916.98. The trade was a 7.30% decrease in their position. The sale was disclosed in a filing 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, insider Carl Dambkowski sold 26,400 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $132.60, for a total value of $3,500,640.00. Following the completion of the transaction, the insider owned 179,248 shares of the company’s stock, valued at approximately $23,768,284.80. This represents a 12.84% 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 have sold 182,900 shares of company stock valued at $21,711,585 in the last 90 days. 24.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

APGE has been the topic of a number of research reports. Mizuho reiterated a “neutral” rating and set a $135.00 target price (up from $110.00) on shares of Apogee Therapeutics in a research report on Wednesday, June 24th. Canaccord Genuity Group cut shares of Apogee Therapeutics from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $130.00 to $135.11 in a research report on Monday, June 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Apogee Therapeutics in a report on Friday, July 17th. BTIG Research reiterated a “buy” rating and issued a $137.00 price objective on shares of Apogee Therapeutics in a research report on Wednesday, May 27th. Finally, Citigroup cut Apogee Therapeutics from a “buy” rating to a “neutral” rating and lifted their target price for the company from $125.00 to $135.00 in a research note on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $121.25.

Apogee Therapeutics Stock Performance

Shares of APGE opened at $134.28 on Friday. The stock has a 50 day simple moving average of $108.57 and a 200 day simple moving average of $88.02. Apogee Therapeutics Inc. has a 52-week low of $34.34 and a 52-week high of $134.40. The firm has a market capitalization of $8.31 billion, a PE ratio of -31.01 and a beta of 0.32.

Apogee Therapeutics (NASDAQ:APGE) last posted its quarterly earnings data on Monday, May 11th. The company reported ($1.06) EPS for the quarter, beating the consensus estimate of ($1.07) by $0.01. Equities research analysts predict that Apogee Therapeutics Inc. will post -4.45 EPS for the current fiscal year.

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.