JPMorgan Chase & Co. Buys 417,161 Shares of Apogee Therapeutics Inc. $APGE

JPMorgan Chase & Co. boosted its stake in shares of Apogee Therapeutics Inc. (NASDAQ:APGE) by 57.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,137,731 shares of the company’s stock after purchasing an additional 417,161 shares during the quarter. JPMorgan Chase & Co.’s holdings in Apogee Therapeutics were worth $45,202,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. ANTIPODES PARTNERS Ltd boosted its stake in shares of Apogee Therapeutics by 41.2% in the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 843 shares of the company’s stock valued at $33,000 after purchasing an additional 246 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Apogee Therapeutics during the 3rd quarter worth about $96,000. BNP Paribas Financial Markets lifted its holdings in Apogee Therapeutics by 34.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,649 shares of the company’s stock valued at $158,000 after purchasing an additional 941 shares during the last quarter. E Fund Management Co. Ltd. bought a new position in Apogee Therapeutics during the 2nd quarter valued at about $204,000. Finally, Optimize Financial Inc acquired a new position in Apogee Therapeutics in the second quarter valued at about $229,000. 79.04% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Michael Thomas Henderson sold 20,000 shares of the company’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $74.78, for a total transaction of $1,495,600.00. Following the transaction, the chief executive officer owned 1,152,987 shares of the company’s stock, valued at $86,220,367.86. This represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Fairmount Funds Management Llc sold 1,750,000 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $76.30, for a total value of $133,525,000.00. Following the completion of the transaction, the director owned 298,647 shares in the company, valued at approximately $22,786,766.10. This represents a 85.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,839,700 shares of company stock valued at $140,118,083 over the last 90 days. 42.77% of the stock is owned by company insiders.

Apogee Therapeutics Price Performance

APGE stock opened at $66.04 on Friday. The company has a 50 day moving average price of $71.25 and a 200 day moving average price of $63.05. Apogee Therapeutics Inc. has a fifty-two week low of $26.20 and a fifty-two week high of $84.56. The stock has a market capitalization of $4.59 billion, a PE ratio of -15.65 and a beta of 1.39.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly earnings data on Monday, March 2nd. The company reported ($1.03) EPS for the quarter, beating analysts’ consensus estimates of ($1.05) by $0.02. As a group, equities analysts expect that Apogee Therapeutics Inc. will post -3.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

APGE has been the topic of several research analyst reports. Truist Financial began coverage on shares of Apogee Therapeutics in a research note on Tuesday. They set a “hold” rating and a $83.00 price objective on the stock. Craig Hallum reissued a “buy” rating and issued a $116.00 target price on shares of Apogee Therapeutics in a report on Wednesday, January 7th. Deutsche Bank Aktiengesellschaft began coverage on Apogee Therapeutics in a research report on Tuesday, December 9th. They set a “buy” rating and a $103.00 price target on the stock. Wall Street Zen downgraded Apogee Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, December 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Apogee Therapeutics in a research note on Wednesday, January 21st. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $103.92.

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