First Light Asset Management LLC Increases Stock Holdings in Apogee Therapeutics Inc. $APGE

First Light Asset Management LLC raised its position in Apogee Therapeutics Inc. (NASDAQ:APGE) by 102.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 576,684 shares of the company’s stock after acquiring an additional 291,693 shares during the period. Apogee Therapeutics makes up about 4.3% of First Light Asset Management LLC’s holdings, making the stock its 6th largest position. First Light Asset Management LLC owned 0.93% of Apogee Therapeutics worth $48,539,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. raised its position in shares of Apogee Therapeutics by 189,522.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,732,456 shares of the company’s stock worth $206,246,000 after purchasing an additional 2,731,015 shares during the period. Janus Henderson Group PLC grew its position in Apogee Therapeutics by 324.4% in the 4th quarter. Janus Henderson Group PLC now owns 2,062,604 shares of the company’s stock valued at $155,697,000 after purchasing an additional 1,576,626 shares during the period. Perceptive Advisors LLC increased its stake in Apogee Therapeutics by 72.4% during the 4th quarter. Perceptive Advisors LLC now owns 2,330,651 shares of the company’s stock valued at $175,918,000 after purchasing an additional 978,662 shares in the last quarter. Wellington Management Group LLP raised its holdings in Apogee Therapeutics by 24.1% during the third quarter. Wellington Management Group LLP now owns 4,723,701 shares of the company’s stock worth $187,673,000 after buying an additional 917,991 shares during the last quarter. Finally, UBS Group AG lifted its stake in shares of Apogee Therapeutics by 646.1% in the third quarter. UBS Group AG now owns 799,465 shares of the company’s stock valued at $31,763,000 after buying an additional 692,308 shares in the last quarter. Institutional investors own 79.04% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on APGE shares. Mizuho reiterated a “neutral” rating and set a $135.00 price objective (up from $110.00) on shares of Apogee Therapeutics in a report on Wednesday, June 24th. UBS Group lowered shares of Apogee Therapeutics from a “buy” rating to a “neutral” rating and upped their target price for the stock from $100.00 to $135.11 in a report on Tuesday, June 23rd. Guggenheim cut shares of Apogee Therapeutics from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 23rd. Citigroup downgraded Apogee Therapeutics from a “buy” rating to a “neutral” rating and lifted their price target for the company from $125.00 to $135.00 in a research note on Tuesday, June 23rd. Finally, Wedbush lowered Apogee Therapeutics from an “outperform” rating to a “neutral” rating and set a $135.00 price objective for the company. in a report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $121.25.

Insider Buying and Selling at Apogee Therapeutics

In other news, insider Carl Dambkowski sold 26,400 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $132.60, for a total transaction of $3,500,640.00. Following the transaction, the insider owned 179,248 shares of the company’s stock, valued at $23,768,284.80. This represents a 12.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Thomas Henderson sold 80,000 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $132.54, for a total value of $10,603,200.00. Following the transaction, the chief executive officer directly owned 1,015,987 shares in the company, valued at $134,658,916.98. This represents a 7.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 182,900 shares of company stock valued at $21,711,585. 24.30% of the stock is owned by corporate insiders.

Apogee Therapeutics Price Performance

APGE opened at $134.28 on Monday. Apogee Therapeutics Inc. has a twelve month low of $34.34 and a twelve month high of $134.40. The company’s 50-day moving average price is $108.57 and its two-hundred day moving average price is $88.09. The stock has a market cap of $8.31 billion, a price-to-earnings ratio of -31.01 and a beta of 0.32.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly earnings results on Monday, May 11th. The company reported ($1.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.07) by $0.01. As a group, sell-side analysts anticipate that Apogee Therapeutics Inc. will post -4.45 earnings per share for the current year.

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.