Capstone Investment Advisors LLC Buys Shares of 120,000 Apogee Therapeutics Inc. $APGE

Capstone Investment Advisors LLC bought a new stake in shares of Apogee Therapeutics Inc. (NASDAQ:APGE) during the second quarter, HoldingsChannel.com reports. The fund bought 120,000 shares of the company’s stock, valued at approximately $15,928,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Apogee Therapeutics during the 2nd quarter worth approximately $730,948,000. T. Rowe Price Investment Management Inc. grew its position in Apogee Therapeutics by 189,522.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,732,456 shares of the company’s stock valued at $206,246,000 after acquiring an additional 2,731,015 shares during the last quarter. 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 acquiring an additional 1,576,626 shares during the last quarter. Pentwater Capital Management LP purchased a new stake in Apogee Therapeutics in the second quarter worth $189,140,000. Finally, Jupiter Topco LLC purchased a new stake in Apogee Therapeutics in the second quarter worth $158,402,000. 79.04% of the stock is currently owned by hedge funds and other institutional investors.

Apogee Therapeutics Stock Up 0.0%

Shares of NASDAQ APGE opened at $134.96 on Friday. Apogee Therapeutics Inc. has a twelve month low of $35.39 and a twelve month high of $134.99. The firm has a market cap of $8.39 billion, a PE ratio of -31.10 and a beta of 0.34. The business has a fifty day simple moving average of $133.10 and a two-hundred day simple moving average of $98.29.

Apogee Therapeutics (NASDAQ:APGE) last posted its quarterly earnings results 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, research analysts expect that Apogee Therapeutics Inc. will post -4.47 earnings per share for the current year.

Insider Transactions at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 5,500 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $134.17, for a total transaction of $737,935.00. Following the transaction, the insider directly owned 168,498 shares in the company, valued at $22,607,376.66. This represents a 3.16% decrease in their position. The sale was disclosed in a legal 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 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 transaction of $2,672,600.00. Following the transaction, the chief executive officer directly owned 995,987 shares in the company, valued at $133,093,742.81. This trade represents a 1.97% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 162,900 shares of company stock valued at $20,344,950. 24.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Stifel Nicolaus reissued a “hold” rating and set a $135.00 target price (up from $133.00) on shares of Apogee Therapeutics in a research note on Wednesday, June 24th. Truist Financial raised their price target on shares of Apogee Therapeutics from $81.00 to $135.00 and gave the stock a “hold” rating in a research note on Thursday, August 13th. Wedbush lowered shares of 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. Royal Bank Of Canada boosted their price objective on shares of Apogee Therapeutics from $82.00 to $97.00 and gave the company a “sector perform” rating in a research report on Monday, June 8th. Finally, Guggenheim downgraded shares of Apogee Therapeutics from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Apogee Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $126.77.

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 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.