Carmignac Gestion Invests $5.90 Million in Apogee Therapeutics Inc. $APGE

Carmignac Gestion purchased a new stake in shares of Apogee Therapeutics Inc. (NASDAQ:APGE) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 44,475 shares of the company’s stock, valued at approximately $5,903,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Rockefeller Capital Management L.P. bought a new position in Apogee Therapeutics in the fourth quarter valued at $25,000. Los Angeles Capital Management LLC purchased a new position in shares of Apogee Therapeutics in the 4th quarter worth about $37,000. GAMMA Investing LLC increased its position in shares of Apogee Therapeutics by 40.5% during the 2nd quarter. GAMMA Investing LLC now owns 309 shares of the company’s stock valued at $41,000 after purchasing an additional 89 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Apogee Therapeutics by 61.7% during 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 during the last quarter. Finally, Longfellow Investment Management Co. LLC purchased a new position in shares of Apogee Therapeutics during the 2nd quarter valued at about $81,000. Hedge funds and other institutional investors own 79.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Apogee Therapeutics in a research report on Friday, July 17th. UBS Group downgraded Apogee Therapeutics from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $100.00 to $135.11 in a report on Tuesday, June 23rd. Wedbush cut Apogee Therapeutics from an “outperform” rating to a “neutral” rating and set a $135.00 target price for the company. in a report on Monday, June 22nd. Truist Financial raised their price target on Apogee Therapeutics from $81.00 to $135.00 and gave the stock a “hold” rating in a research report on Thursday, August 13th. Finally, Canaccord Genuity Group downgraded Apogee Therapeutics from a “buy” rating to a “hold” rating and boosted their price objective for the company from $130.00 to $135.11 in a research report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $126.77.

Insider Buying and Selling

In other news, insider Carl Dambkowski sold 5,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $134.17, for a total transaction of $737,935.00. Following the completion of the transaction, the insider directly owned 168,498 shares of the company’s stock, valued at $22,607,376.66. The trade was a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 Henderson sold 20,000 shares of the firm’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $133.63, for a total value of $2,672,600.00. Following the completion of the transaction, the chief executive officer owned 995,987 shares in the company, valued at approximately $133,093,742.81. This trade represents a 1.97% decrease in their ownership of the stock. 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 157,400 shares of company stock valued at $19,912,045 over the last quarter. Company insiders own 24.30% of the company’s stock.

Apogee Therapeutics Price Performance

Shares of APGE stock remained flat at $135.07 during trading hours on Tuesday. The company’s 50-day moving average price is $134.28 and its two-hundred day moving average price is $101.66. Apogee Therapeutics Inc. has a 12 month low of $35.39 and a 12 month high of $135.09. The firm 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 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 research analysts forecast that Apogee Therapeutics Inc. will post -4.47 EPS for the current fiscal year.

About Apogee Therapeutics

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.