Marks Group Wealth Management Inc Takes $694,000 Position in Apogee Therapeutics Inc. $APGE

Marks Group Wealth Management Inc acquired a new position in Apogee Therapeutics Inc. (NASDAQ:APGE) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,243 shares of the company’s stock, valued at approximately $694,000.

A number of other hedge funds have also recently made changes to their positions in APGE. Rockefeller Capital Management L.P. purchased a new stake in Apogee Therapeutics in the fourth quarter valued at approximately $25,000. Los Angeles Capital Management LLC acquired a new position in Apogee Therapeutics during the fourth quarter worth $37,000. Quantbot Technologies LP purchased a new position in shares of Apogee Therapeutics during the third quarter worth $96,000. Seven Fleet Capital Management LP purchased a new position in shares of Apogee Therapeutics during the fourth quarter worth $136,000. Finally, BNP Paribas Financial Markets grew its stake in shares of Apogee Therapeutics by 34.7% in the second quarter. BNP Paribas Financial Markets now owns 3,649 shares of the company’s stock valued at $158,000 after buying an additional 941 shares in the last quarter. Hedge funds and other institutional investors own 79.04% of the company’s stock.

Insider Transactions at Apogee Therapeutics

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on APGE shares. UBS Group lowered Apogee Therapeutics from a “buy” rating to a “neutral” rating and increased their target price for the stock from $100.00 to $135.11 in a research note on Tuesday, June 23rd. Rothschild & Co Redburn began coverage on Apogee Therapeutics in a research report on Friday, May 1st. They issued a “buy” rating and a $140.00 target price for the company. Guggenheim lowered shares of Apogee Therapeutics from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Apogee Therapeutics in a research report on Monday, April 20th. Finally, BTIG Research reissued a “buy” rating and issued a $137.00 price objective on shares of Apogee Therapeutics in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Apogee Therapeutics currently has an average rating of “Hold” and a consensus price target of $121.25.

Apogee Therapeutics Trading Down 0.2%

NASDAQ:APGE opened at $134.08 on Friday. Apogee Therapeutics Inc. has a 12-month low of $34.34 and a 12-month high of $134.32. The firm has a market cap of $8.30 billion, a PE ratio of -30.97 and a beta of 0.32. The stock has a fifty day moving average price of $102.46 and a 200 day moving average price of $85.64.

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