Eventide Asset Management LLC Makes New Investment in Apogee Therapeutics Inc. $APGE

Eventide Asset Management LLC bought a new position in Apogee Therapeutics Inc. (NASDAQ:APGE) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 436,015 shares of the company’s stock, valued at approximately $32,910,000. Eventide Asset Management LLC owned about 0.64% of Apogee Therapeutics as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. FORA Capital LLC acquired a new stake in shares of Apogee Therapeutics in the 4th quarter worth $1,374,000. Marshall Wace LLP increased its stake in shares of Apogee Therapeutics by 622.1% in the 4th quarter. Marshall Wace LLP now owns 50,744 shares of the company’s stock worth $3,830,000 after acquiring an additional 43,717 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Apogee Therapeutics by 27.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 80,832 shares of the company’s stock worth $6,118,000 after acquiring an additional 17,607 shares during the last quarter. Affinity Asset Advisors LLC increased its stake in shares of Apogee Therapeutics by 5.2% in the 4th quarter. Affinity Asset Advisors LLC now owns 1,234,926 shares of the company’s stock worth $93,212,000 after acquiring an additional 61,500 shares during the last quarter. Finally, Stifel Financial Corp increased its stake in shares of Apogee Therapeutics by 3.5% in the 4th quarter. Stifel Financial Corp now owns 5,214 shares of the company’s stock worth $394,000 after acquiring an additional 175 shares during the last quarter. 79.04% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Apogee Therapeutics

In related news, insider Carl Dambkowski sold 5,500 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $78.71, for a total transaction of $432,905.00. Following the completion of the transaction, the insider directly owned 205,648 shares in the company, valued at $16,186,554.08. This trade represents a 2.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Thomas Henderson sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $82.58, for a total value of $1,651,600.00. Following the transaction, the chief executive officer owned 1,132,987 shares of the company’s stock, valued at $93,562,066.46. This trade represents a 1.73% 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 a total of 76,500 shares of company stock valued at $6,323,295 over the last 90 days. 24.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

APGE has been the subject of a number of recent analyst reports. Citigroup raised their price objective on Apogee Therapeutics from $95.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Rothschild & Co Redburn initiated coverage on Apogee Therapeutics in a research report on Friday, May 1st. They set a “buy” rating and a $140.00 price objective for the company. Royal Bank Of Canada raised their price objective on Apogee Therapeutics from $82.00 to $97.00 and gave the stock a “sector perform” rating in a research report on Monday, June 8th. Mizuho raised their price objective on Apogee Therapeutics from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, March 30th. Finally, Guggenheim raised their price objective on Apogee Therapeutics from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Apogee Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $114.56.

Apogee Therapeutics Trading Down 1.3%

Shares of NASDAQ:APGE opened at $88.33 on Friday. The business has a 50-day moving average price of $84.47 and a 200 day moving average price of $77.33. The company has a market capitalization of $5.47 billion, a price-to-earnings ratio of -20.40 and a beta of 0.62. Apogee Therapeutics Inc. has a 12-month low of $34.34 and a 12-month high of $95.32.

Apogee Therapeutics (NASDAQ:APGE) last announced its earnings results on Monday, May 11th. The company reported ($1.06) EPS for the quarter, beating analysts’ consensus estimates of ($1.07) by $0.01. As a group, equities research analysts predict that Apogee Therapeutics Inc. will post -4.45 earnings per share 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 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.