Pentwater Capital Management LP Buys New Shares in Apogee Therapeutics Inc. $APGE

Pentwater Capital Management LP bought a new position in shares of Apogee Therapeutics Inc. (NASDAQ:APGE) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,425,000 shares of the company’s stock, valued at approximately $189,140,000. Apogee Therapeutics makes up about 1.2% of Pentwater Capital Management LP’s investment portfolio, making the stock its 18th biggest position.

A number of other hedge funds also recently bought and sold shares of the stock. GAMMA Investing LLC increased its stake in shares of Apogee Therapeutics by 40.5% during the second quarter. GAMMA Investing LLC now owns 309 shares of the company’s stock worth $41,000 after buying an additional 89 shares during the period. Rockefeller Capital Management L.P. acquired a new position in Apogee Therapeutics during the 4th quarter worth approximately $25,000. Los Angeles Capital Management LLC acquired a new position in Apogee Therapeutics during the 4th quarter worth approximately $37,000. Longfellow Investment Management Co. LLC purchased a new stake in shares of Apogee Therapeutics in the 2nd quarter valued at approximately $81,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Apogee Therapeutics by 61.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 645 shares of the company’s stock valued at $54,000 after purchasing an additional 246 shares in the last quarter. Institutional investors and hedge funds own 79.04% of the company’s stock.

Apogee Therapeutics Trading Up 0.1%

Apogee Therapeutics stock opened at $134.95 on Thursday. Apogee Therapeutics Inc. has a twelve month low of $35.39 and a twelve month high of $134.99. The stock has a 50 day moving average of $132.21 and a two-hundred day moving average of $97.78. The stock has a market capitalization of $8.39 billion, a price-to-earnings ratio of -31.09 and a beta of 0.34.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly earnings results on Monday, August 10th. The company reported ($1.14) earnings per share for the quarter, missing the consensus estimate of ($1.07) by ($0.07). Equities analysts predict that Apogee Therapeutics Inc. will post -4.47 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on the company. UBS Group lowered Apogee Therapeutics from a “buy” rating to a “neutral” rating and increased their target price for the company from $100.00 to $135.11 in a report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft downgraded Apogee Therapeutics from a “buy” rating to a “hold” rating and upped their price target for the company from $116.00 to $135.00 in a report on Monday, June 22nd. Rothschild & Co Redburn assumed coverage on shares of Apogee Therapeutics in a report on Friday, May 1st. They set a “buy” rating and a $140.00 price objective on the stock. Truist Financial boosted their price objective on shares of Apogee Therapeutics from $81.00 to $135.00 and gave the stock a “hold” rating in a research report on Thursday, August 13th. Finally, Wedbush downgraded shares of Apogee Therapeutics from an “outperform” rating to a “neutral” rating and set a $135.00 target price on the stock. in a research report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Apogee Therapeutics has a consensus rating of “Hold” and an average price target of $124.43.

Insider Buying and Selling at Apogee Therapeutics

In related news, CEO Michael Thomas Henderson sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $133.63, for a total value of $2,672,600.00. Following the completion of the sale, the chief executive officer owned 995,987 shares in the company, valued at $133,093,742.81. This trade represents a 1.97% 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, insider Carl Dambkowski sold 5,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $134.17, for a total value of $737,935.00. Following the transaction, the insider owned 168,498 shares in the company, valued at $22,607,376.66. The trade was a 3.16% 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. Insiders sold a total of 162,900 shares of company stock valued at $20,344,950 in the last 90 days. Company insiders own 24.30% of the company’s stock.

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 RORγt, a master regulator of T cell-driven inflammatory pathways. By modulating RORγt 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 RORγt inverse agonist currently undergoing early-stage clinical evaluation for moderate to severe plaque psoriasis.