UBS Group AG Purchases 175,361 Shares of Apogee Therapeutics Inc. $APGE

UBS Group AG grew its position in Apogee Therapeutics Inc. (NASDAQ:APGE) by 21.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 974,826 shares of the company’s stock after acquiring an additional 175,361 shares during the quarter. UBS Group AG’s holdings in Apogee Therapeutics were worth $73,580,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in Apogee Therapeutics by 24.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,723,701 shares of the company’s stock worth $187,673,000 after acquiring an additional 917,991 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Apogee Therapeutics by 27.3% during the 4th quarter. Vanguard Group Inc. now owns 2,857,824 shares of the company’s stock valued at $215,709,000 after purchasing an additional 612,193 shares during the last quarter. Paradigm Biocapital Advisors LP increased its position in shares of Apogee Therapeutics by 58.7% during the 3rd quarter. Paradigm Biocapital Advisors LP now owns 1,521,757 shares of the company’s stock valued at $60,459,000 after purchasing an additional 563,127 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Apogee Therapeutics by 2.2% during the 3rd quarter. Alliancebernstein L.P. now owns 1,419,132 shares of the company’s stock valued at $56,382,000 after purchasing an additional 30,983 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its position in shares of Apogee Therapeutics by 77.5% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,290,464 shares of the company’s stock valued at $56,045,000 after purchasing an additional 563,464 shares during the last quarter. Institutional investors own 79.04% of the company’s stock.

Wall Street Analysts Forecast Growth

APGE has been the topic of several analyst reports. Wolfe Research initiated coverage on Apogee Therapeutics in a research report on Wednesday, January 7th. They set a “peer perform” rating on the stock. Craig Hallum reissued a “buy” rating and set a $116.00 target price on shares of Apogee Therapeutics in a research report on Wednesday, January 7th. UBS Group raised Apogee Therapeutics to a “strong-buy” rating in a research report on Wednesday, January 7th. Stifel Nicolaus set a $133.00 target price on Apogee Therapeutics in a research report on Tuesday, January 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Apogee Therapeutics in a research report on Monday, April 20th. Three research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $112.73.

Apogee Therapeutics Price Performance

Shares of Apogee Therapeutics stock opened at $80.75 on Monday. The stock’s fifty day moving average is $78.89 and its two-hundred day moving average is $72.41. The company has a market capitalization of $4.99 billion, a PE ratio of -19.14 and a beta of 0.69. Apogee Therapeutics Inc. has a 52 week low of $34.34 and a 52 week high of $95.32.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly earnings data on Monday, March 2nd. The company reported ($1.03) EPS for the quarter, beating the consensus estimate of ($1.05) by $0.02. As a group, research analysts anticipate that Apogee Therapeutics Inc. will post -4.57 earnings per share for the current year.

Insider Buying and Selling at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 5,500 shares of the company’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $84.84, for a total value of $466,620.00. Following the transaction, the insider owned 208,398 shares of the company’s stock, valued at $17,680,486.32. This represents a 2.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 20,000 shares of the company’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $63.35, for a total value of $1,267,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,172,987 shares in the company, valued at $74,308,726.45. This trade represents a 1.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 76,500 shares of company stock worth $5,633,495 in the last ninety days. 24.30% of the stock is currently owned by corporate 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.