Candriam S.C.A. Invests $5.01 Million in Apogee Therapeutics Inc. $APGE

Candriam S.C.A. acquired a new position in shares of Apogee Therapeutics Inc. (NASDAQ:APGE) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 126,081 shares of the company’s stock, valued at approximately $5,009,000. Candriam S.C.A. owned about 0.27% of Apogee Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Apogee Therapeutics by 2.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,529 shares of the company’s stock valued at $921,000 after purchasing an additional 694 shares in the last quarter. Millennium Management LLC increased its position in shares of Apogee Therapeutics by 100.0% during the 1st quarter. Millennium Management LLC now owns 260,335 shares of the company’s stock valued at $9,726,000 after purchasing an additional 130,164 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Apogee Therapeutics during the 2nd quarter valued at about $218,000. AlphaQuest LLC lifted its position in Apogee Therapeutics by 344.6% in the 2nd quarter. AlphaQuest LLC now owns 5,073 shares of the company’s stock worth $220,000 after buying an additional 3,932 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in Apogee Therapeutics by 99.2% in the second quarter. Nisa Investment Advisors LLC now owns 769 shares of the company’s stock worth $33,000 after buying an additional 383 shares in the last quarter. 79.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Stifel Nicolaus set a $133.00 price objective on shares of Apogee Therapeutics in a report on Tuesday, January 6th. Wolfe Research initiated coverage on shares of Apogee Therapeutics in a research note on Wednesday, January 7th. They issued a “peer perform” rating for the company. Royal Bank Of Canada cut Apogee Therapeutics from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from $70.00 to $83.00 in a research note on Thursday, January 22nd. Craig Hallum reiterated a “buy” rating and issued a $116.00 price objective on shares of Apogee Therapeutics in a report on Wednesday, January 7th. Finally, Citigroup restated a “buy” rating on shares of Apogee Therapeutics in a report on Sunday, January 25th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $104.58.

Apogee Therapeutics Stock Up 0.5%

NASDAQ:APGE opened at $65.81 on Thursday. The firm’s fifty day simple moving average is $74.69 and its 200 day simple moving average is $56.94. The stock has a market cap of $4.50 billion, a P/E ratio of -15.03 and a beta of 1.42. Apogee Therapeutics Inc. has a twelve month low of $26.20 and a twelve month high of $84.56.

Apogee Therapeutics (NASDAQ:APGE) last posted its earnings results on Monday, November 10th. The company reported ($1.11) EPS for the quarter, topping the consensus estimate of ($1.14) by $0.03. On average, analysts expect that Apogee Therapeutics Inc. will post -3.09 EPS for the current fiscal year.

Insider Buying and Selling at Apogee Therapeutics

In related news, Director Fairmount Funds Management Llc sold 1,750,000 shares of Apogee Therapeutics stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $76.30, for a total transaction of $133,525,000.00. Following the sale, the director directly 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 document filed with the SEC, which is available through this hyperlink. Also, CEO Michael Thomas Henderson sold 20,000 shares of the stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $81.11, for a total value of $1,622,200.00. Following the completion of the transaction, the chief executive officer owned 1,192,987 shares of the company’s stock, valued at approximately $96,763,175.57. This trade represents a 1.65% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 1,865,100 shares of company stock valued at $142,290,153. 42.77% of the stock is currently owned by corporate insiders.

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.