Squarepoint Ops LLC Acquires 252,365 Shares of Apogee Therapeutics Inc. $APGE

Squarepoint Ops LLC lifted its holdings in shares of Apogee Therapeutics Inc. (NASDAQ:APGE) by 658.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 290,713 shares of the company’s stock after buying an additional 252,365 shares during the period. Squarepoint Ops LLC owned about 0.47% of Apogee Therapeutics worth $38,586,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. California State Teachers Retirement System raised its holdings in Apogee Therapeutics by 15,025.8% during the second quarter. California State Teachers Retirement System now owns 5,772,162 shares of the company’s stock worth $766,139,000 after acquiring an additional 5,734,001 shares in the last quarter. BlackRock Inc. bought a new position in Apogee Therapeutics in the second quarter valued at approximately $730,948,000. T. Rowe Price Investment Management Inc. increased its position in shares of Apogee Therapeutics by 189,522.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,732,456 shares of the company’s stock worth $206,246,000 after purchasing an additional 2,731,015 shares during the last quarter. Glazer Capital LLC acquired a new position in shares of Apogee Therapeutics during the 2nd quarter worth approximately $217,816,000. Finally, Janus Henderson Group PLC raised its stake in shares of Apogee Therapeutics by 324.4% during the 4th quarter. Janus Henderson Group PLC now owns 2,062,604 shares of the company’s stock worth $155,697,000 after purchasing an additional 1,576,626 shares in the last quarter. Institutional investors own 79.04% of the company’s stock.

Apogee Therapeutics Stock Performance

APGE stock opened at $135.07 on Wednesday. The firm has a market capitalization of $8.40 billion, a PE ratio of -31.12 and a beta of 0.33. Apogee Therapeutics Inc. has a 1-year low of $35.39 and a 1-year high of $135.09. The business’s 50 day simple moving average is $134.33 and its 200 day simple moving average is $102.11.

Apogee Therapeutics (NASDAQ:APGE) last posted its quarterly earnings results on Monday, August 10th. The company reported ($1.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.07). As a group, sell-side analysts predict that Apogee Therapeutics Inc. will post -4.47 EPS for the current fiscal year.

Analyst Ratings Changes

APGE has been the subject of several recent analyst reports. Guggenheim downgraded Apogee Therapeutics from a “buy” rating to a “neutral” rating in a report on Tuesday, June 23rd. The Goldman Sachs Group set a $89.00 target price on shares of Apogee Therapeutics in a report on Thursday, May 28th. Wedbush cut shares of Apogee Therapeutics from an “outperform” rating to a “neutral” rating and set a $135.00 price target for the company. in a research note on Monday, June 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Apogee Therapeutics in a research report on Friday, July 17th. Finally, Canaccord Genuity Group lowered shares of Apogee Therapeutics from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $130.00 to $135.11 in a research note on Monday, June 22nd. 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $126.77.

Insider Buying and Selling at Apogee Therapeutics

In related news, insider Carl Dambkowski sold 26,400 shares of Apogee Therapeutics stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $132.60, for a total transaction of $3,500,640.00. Following the completion of the sale, the insider owned 179,248 shares of the company’s stock, valued at approximately $23,768,284.80. The trade was a 12.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Henderson sold 80,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer owned 1,015,987 shares in the company, valued at approximately $134,658,916.98. This trade represents a 7.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 137,400 shares of company stock worth $18,244,445. Corporate insiders own 24.30% of the company’s stock.

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.