Handelsbanken Fonder AB Has $11.46 Million Stake in Apogee Therapeutics Inc. $APGE

Handelsbanken Fonder AB raised its position in Apogee Therapeutics Inc. (NASDAQ:APGE) by 309.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 86,300 shares of the company’s stock after buying an additional 65,200 shares during the quarter. Handelsbanken Fonder AB’s holdings in Apogee Therapeutics were worth $11,455,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in APGE. GAMMA Investing LLC boosted 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 worth $41,000 after acquiring an additional 89 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new position in Apogee Therapeutics during the fourth quarter valued at approximately $25,000. Los Angeles Capital Management LLC acquired a new position in Apogee Therapeutics during the fourth quarter valued at approximately $37,000. EverSource Wealth Advisors LLC lifted its stake in Apogee Therapeutics by 61.7% during the first quarter. EverSource Wealth Advisors LLC now owns 645 shares of the company’s stock worth $54,000 after purchasing an additional 246 shares during the last quarter. Finally, Seven Fleet Capital Management LP bought a new stake in Apogee Therapeutics during the fourth quarter worth $136,000. Institutional investors own 79.04% of the company’s stock.

Apogee Therapeutics Price Performance

Shares of Apogee Therapeutics stock opened at $134.45 on Friday. The company’s 50 day moving average price is $123.46 and its two-hundred day moving average price is $93.54. The firm has a market capitalization of $8.36 billion, a P/E ratio of -30.98 and a beta of 0.34. Apogee Therapeutics Inc. has a fifty-two week low of $35.39 and a fifty-two week high of $134.88.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly earnings results on Monday, August 10th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.07) by ($0.07). On average, analysts expect that Apogee Therapeutics Inc. will post -4.46 earnings per share for the current year.

Insiders Place Their Bets

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 20,000 shares of the stock in a transaction dated 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 directly 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $134.17, for a total value of $737,935.00. Following the sale, the insider directly owned 168,498 shares in the company, valued at $22,607,376.66. The trade was a 3.16% 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 have sold a total of 162,900 shares of company stock worth $20,344,950 in the last 90 days. 24.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group set a $89.00 price target on Apogee Therapeutics in a research note on Thursday, May 28th. Rothschild & Co Redburn began coverage on Apogee Therapeutics in a research report on Friday, May 1st. They set a “buy” rating and a $140.00 price objective for the company. Royal Bank Of Canada raised their price objective on Apogee Therapeutics from $82.00 to $97.00 and gave the company a “sector perform” rating in a research note on Monday, June 8th. BTIG Research cut Apogee Therapeutics from a “buy” rating to a “neutral” rating in a research report on Wednesday. Finally, Citigroup downgraded Apogee Therapeutics from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $125.00 to $135.00 in a research note on Tuesday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Apogee Therapeutics presently has an average rating of “Hold” and an average target price of $124.43.

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 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.