UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 10,081 Shares of Apogee Therapeutics Inc. $APGE

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Apogee Therapeutics Inc. (NASDAQ:APGE) by 17.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 66,433 shares of the company’s stock after purchasing an additional 10,081 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Apogee Therapeutics were worth $8,818,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of APGE. Rockefeller Capital Management L.P. bought a new stake in shares of Apogee Therapeutics during the fourth quarter valued at approximately $25,000. Los Angeles Capital Management LLC purchased a new position in Apogee Therapeutics in the 4th quarter worth approximately $37,000. GAMMA Investing LLC lifted its position in Apogee Therapeutics by 40.5% in the 2nd 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 lifted its position in 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 acquiring an additional 246 shares in the last quarter. Finally, Longfellow Investment Management Co. LLC purchased a new stake in Apogee Therapeutics during the 2nd quarter valued at $81,000. 79.04% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Apogee Therapeutics

In other news, CEO Michael Henderson sold 80,000 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $132.54, for a total transaction of $10,603,200.00. Following the completion of 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Carl Dambkowski sold 26,400 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $132.60, for a total value of $3,500,640.00. Following the completion of the sale, the insider owned 179,248 shares of the company’s stock, valued at $23,768,284.80. This trade represents a 12.84% 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 157,400 shares of company stock worth $19,912,045 over the last quarter. Insiders own 24.30% of the company’s stock.

Apogee Therapeutics Price Performance

NASDAQ APGE opened at $135.07 on Tuesday. The company has a 50-day moving average price of $134.28 and a 200-day moving average price of $101.66. Apogee Therapeutics Inc. has a 52 week low of $35.39 and a 52 week high of $135.09. The firm has a market capitalization of $8.40 billion, a P/E ratio of -31.12 and a beta of 0.33.

Apogee Therapeutics (NASDAQ:APGE) last posted 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). As a group, equities research analysts anticipate that Apogee Therapeutics Inc. will post -4.47 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Royal Bank Of Canada boosted their price target on Apogee Therapeutics from $82.00 to $97.00 and gave the stock a “sector perform” rating in a research note on Monday, June 8th. Deutsche Bank Aktiengesellschaft downgraded Apogee Therapeutics from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $116.00 to $135.00 in a report on Monday, June 22nd. Wedbush cut 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 note on Monday, June 22nd. Mizuho reaffirmed a “neutral” rating and set a $135.00 price target (up from $110.00) on shares of Apogee Therapeutics in a report on Wednesday, June 24th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $135.00 price objective (up from $133.00) on shares of Apogee Therapeutics in a report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Apogee Therapeutics presently has a consensus rating of “Hold” and an average price target of $126.77.

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.