Jennison Associates LLC Makes New Investment in Apogee Therapeutics Inc. $APGE

Jennison Associates LLC purchased a new position in Apogee Therapeutics Inc. (NASDAQ:APGE) in the 4th quarter, HoldingsChannel reports. The fund purchased 578,627 shares of the company’s stock, valued at approximately $43,675,000.

Other institutional investors have also modified their holdings of the company. ANTIPODES PARTNERS Ltd lifted its position in shares of Apogee Therapeutics by 41.2% during the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 843 shares of the company’s stock worth $33,000 after purchasing an additional 246 shares during the last quarter. Comerica Bank lifted its position in shares of Apogee Therapeutics by 1.0% during the 4th quarter. Comerica Bank now owns 35,872 shares of the company’s stock worth $2,708,000 after purchasing an additional 338 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Apogee Therapeutics by 2.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,529 shares of the company’s stock worth $921,000 after purchasing an additional 694 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of Apogee Therapeutics by 10.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,935 shares of the company’s stock worth $674,000 after purchasing an additional 853 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Apogee Therapeutics by 49.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,665 shares of the company’s stock worth $201,000 after purchasing an additional 882 shares during the last quarter. Institutional investors and hedge funds own 79.04% of the company’s stock.

Apogee Therapeutics Price Performance

Shares of APGE opened at $80.75 on Friday. Apogee Therapeutics Inc. has a 1-year low of $34.34 and a 1-year high of $95.32. The stock has a market cap of $4.99 billion, a PE ratio of -19.14 and a beta of 0.69. The firm has a fifty day moving average price of $78.89 and a 200 day moving average price of $72.14.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly 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. As a group, equities analysts expect that Apogee Therapeutics Inc. will post -4.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on APGE shares. Wolfe Research started coverage on shares of Apogee Therapeutics in a research report on Wednesday, January 7th. They set a “peer perform” rating for the company. Jefferies Financial Group reaffirmed a “buy” rating and set a $95.00 price objective on shares of Apogee Therapeutics in a research report on Monday, February 2nd. Rothschild & Co Redburn started coverage on shares of Apogee Therapeutics in a research report on Friday. They set a “buy” rating and a $140.00 price objective for the company. Royal Bank Of Canada decreased their price objective on shares of Apogee Therapeutics from $83.00 to $82.00 and set a “sector perform” rating for the company in a research report on Monday, March 2nd. Finally, Stifel Nicolaus set a $133.00 price objective on shares of Apogee Therapeutics in a research report on Tuesday, January 6th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Apogee Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $112.73.

Insiders Place Their Bets

In related news, insider Carl Dambkowski sold 5,500 shares of the business’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $84.84, for a total value of $466,620.00. Following the completion of the sale, the insider directly owned 208,398 shares of the company’s stock, valued at $17,680,486.32. The trade was a 2.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Thomas Henderson sold 20,000 shares of the business’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $82.58, for a total transaction of $1,651,600.00. Following the completion of the sale, the chief executive officer directly owned 1,132,987 shares of the company’s stock, valued at approximately $93,562,066.46. This trade represents a 1.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 76,500 shares of company stock valued at $5,633,495. 42.77% of the stock is owned by corporate insiders.

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 ROR?t, a master regulator of T cell-driven inflammatory pathways. By modulating ROR?t 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 ROR?t inverse agonist currently undergoing early-stage clinical evaluation for moderate to severe plaque psoriasis.