Aberdeen Group plc Takes Position in Apogee Therapeutics Inc. $APGE

Aberdeen Group plc bought a new position in Apogee Therapeutics Inc. (NASDAQ:APGE) during the third quarter, according to the company in its most recent filing with the SEC. The firm bought 54,760 shares of the company’s stock, valued at approximately $2,176,000. Aberdeen Group plc owned 0.12% of Apogee Therapeutics as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of 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 buying an additional 694 shares during the last quarter. Millennium Management LLC grew its holdings 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 purchasing an additional 130,164 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Apogee Therapeutics in the second quarter worth approximately $218,000. AlphaQuest LLC grew its holdings 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 acquiring an additional 3,932 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in Apogee Therapeutics by 99.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 769 shares of the company’s stock worth $33,000 after acquiring an additional 383 shares during the last quarter. 79.04% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

APGE has been the subject of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Apogee Therapeutics in a report on Wednesday, January 21st. Citigroup reissued a “buy” rating on shares of Apogee Therapeutics in a research note on Sunday, January 25th. Jefferies Financial Group restated a “buy” rating and issued a $95.00 price objective on shares of Apogee Therapeutics in a report on Monday, February 2nd. Wall Street Zen lowered shares of Apogee Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. Finally, Stephens started coverage on Apogee Therapeutics in a research note on Tuesday, December 16th. They issued an “overweight” rating and a $95.00 price target on the stock. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Apogee Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $104.58.

Apogee Therapeutics Trading Down 0.8%

APGE stock opened at $68.39 on Friday. The stock has a market capitalization of $4.67 billion, a PE ratio of -15.61 and a beta of 1.42. Apogee Therapeutics Inc. has a 12-month low of $26.20 and a 12-month high of $84.56. The stock’s 50 day simple moving average is $73.68 and its 200 day simple moving average is $58.45.

Insider Buying and Selling at Apogee Therapeutics

In related news, insider Carl Dambkowski sold 18,700 shares of the 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 transaction, the insider owned 212,523 shares in the company, valued at $16,542,790.32. This represents a 8.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Thomas Henderson sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $75.01, for a total transaction of $3,000,400.00. Following the completion of the sale, the chief executive officer owned 1,232,987 shares in the company, valued at $92,486,354.87. This represents a 3.14% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 1,885,100 shares of company stock worth $143,557,153. Company insiders own 42.77% of the company’s stock.

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.