Squarepoint Ops LLC Purchases 252,365 Shares of Apogee Therapeutics Inc. $APGE

Squarepoint Ops LLC increased its position in shares of Apogee Therapeutics Inc. (NASDAQ:APGE) by 658.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 290,713 shares of the company’s stock after purchasing an additional 252,365 shares during the period. Squarepoint Ops LLC’s holdings in Apogee Therapeutics were worth $38,586,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. bought a new position in Apogee Therapeutics during the 4th quarter worth $25,000. Los Angeles Capital Management LLC bought a new stake in shares of Apogee Therapeutics in the fourth quarter valued at about $37,000. GAMMA Investing LLC grew its stake in shares of Apogee Therapeutics by 40.5% in the second quarter. GAMMA Investing LLC now owns 309 shares of the company’s stock valued at $41,000 after acquiring an additional 89 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Apogee Therapeutics by 61.7% in the first quarter. EverSource Wealth Advisors LLC now owns 645 shares of the company’s stock valued at $54,000 after acquiring an additional 246 shares in the last quarter. Finally, Longfellow Investment Management Co. LLC bought a new position in Apogee Therapeutics during the second quarter worth about $81,000. 79.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

APGE has been the subject of several analyst reports. Citigroup cut shares of Apogee Therapeutics from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $125.00 to $135.00 in a research note on Tuesday, June 23rd. Stifel Nicolaus reaffirmed a “hold” rating and set a $135.00 target price (up from $133.00) on shares of Apogee Therapeutics in a report on Wednesday, June 24th. Mizuho reaffirmed a “neutral” rating and set a $135.00 target price (up from $110.00) on shares of Apogee Therapeutics in a report on Wednesday, June 24th. Craig Hallum set a $135.11 price target on shares of Apogee Therapeutics and gave the company a “hold” rating in a research report on Monday, June 22nd. Finally, BTIG Research cut Apogee Therapeutics from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Apogee Therapeutics has an average rating of “Hold” and an average target price of $126.77.

Apogee Therapeutics Price Performance

APGE stock opened at $135.07 on Wednesday. Apogee Therapeutics Inc. has a 52 week low of $35.39 and a 52 week high of $135.09. The business has a 50-day simple moving average of $134.33 and a 200 day simple moving average of $102.11. The company has a market cap of $8.40 billion, a PE ratio of -31.12 and a beta of 0.33.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly earnings data on Monday, August 10th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.07). On average, analysts anticipate that Apogee Therapeutics Inc. will post -4.47 EPS for the current fiscal year.

Insider Buying and Selling

In other Apogee Therapeutics news, insider Carl Dambkowski sold 26,400 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $132.60, for a total transaction of $3,500,640.00. Following the completion of the transaction, the insider directly 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 document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Henderson sold 80,000 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $132.54, for a total value of $10,603,200.00. Following the sale, the chief executive officer owned 1,015,987 shares of the company’s stock, valued at $134,658,916.98. The trade was a 7.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 137,400 shares of company stock worth $18,244,445 over the last three months. 24.30% of the stock is currently owned by 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.