Nicholas Investment Partners LP Takes $8.52 Million Position in Apogee Therapeutics Inc. $APGE

Nicholas Investment Partners LP bought a new stake in Apogee Therapeutics Inc. (NASDAQ:APGE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 112,924 shares of the company’s stock, valued at approximately $8,524,000. Nicholas Investment Partners LP owned 0.17% of Apogee Therapeutics at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. First Turn Management LLC boosted its stake in shares of Apogee Therapeutics by 17.9% in the fourth quarter. First Turn Management LLC now owns 474,839 shares of the company’s stock valued at $35,841,000 after buying an additional 72,028 shares in the last quarter. Kennedy Capital Management LLC boosted its stake in shares of Apogee Therapeutics by 0.7% in the fourth quarter. Kennedy Capital Management LLC now owns 124,979 shares of the company’s stock valued at $9,433,000 after buying an additional 928 shares in the last quarter. Eventide Asset Management LLC purchased a new stake in shares of Apogee Therapeutics in the fourth quarter valued at approximately $32,910,000. FORA Capital LLC purchased a new stake in shares of Apogee Therapeutics in the fourth quarter valued at approximately $1,374,000. Finally, Marshall Wace LLP boosted its stake in shares of Apogee Therapeutics by 622.1% in the fourth quarter. Marshall Wace LLP now owns 50,744 shares of the company’s stock valued at $3,830,000 after buying an additional 43,717 shares in the last quarter. Institutional investors and hedge funds own 79.04% of the company’s stock.

Apogee Therapeutics Stock Performance

APGE opened at $88.33 on Friday. The business’s fifty day moving average is $84.47 and its two-hundred day moving average is $77.33. The company has a market cap of $5.47 billion, a price-to-earnings ratio of -20.40 and a beta of 0.62. Apogee Therapeutics Inc. has a one year low of $34.34 and a one year high of $95.32.

Apogee Therapeutics (NASDAQ:APGE) last posted its earnings results on Monday, May 11th. The company reported ($1.06) EPS for the quarter, topping analysts’ consensus estimates of ($1.07) by $0.01. On average, analysts predict that Apogee Therapeutics Inc. will post -4.45 EPS for the current fiscal year.

Insider Buying and Selling at Apogee Therapeutics

In other news, insider Carl Dambkowski sold 5,500 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $78.71, for a total value of $432,905.00. Following the sale, the insider directly owned 205,648 shares in the company, valued at $16,186,554.08. This represents a 2.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Thomas Henderson sold 20,000 shares of the company’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $83.38, for a total value of $1,667,600.00. Following the completion of the sale, the chief executive officer owned 1,095,987 shares in the company, valued at $91,383,396.06. This represents a 1.79% 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. Insiders sold 76,500 shares of company stock worth $6,323,295 over the last 90 days. Company insiders own 24.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on APGE. Truist Financial decreased their price target on Apogee Therapeutics from $83.00 to $81.00 and set a “hold” rating on the stock in a research note on Wednesday, May 27th. Guggenheim lifted their price target on Apogee Therapeutics from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Apogee Therapeutics in a research note on Monday, April 20th. Canaccord Genuity Group lifted their price target on Apogee Therapeutics from $89.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th. Finally, BTIG Research restated a “buy” rating and issued a $137.00 price target on shares of Apogee Therapeutics in a research note on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.56.

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 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.