JPMorgan Chase & Co. Has $45.20 Million Holdings in Apogee Therapeutics Inc. $APGE

JPMorgan Chase & Co. raised its stake in Apogee Therapeutics Inc. (NASDAQ:APGE) by 57.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,137,731 shares of the company’s stock after purchasing an additional 417,161 shares during the period. JPMorgan Chase & Co. owned approximately 2.47% of Apogee Therapeutics worth $45,202,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Apogee Therapeutics by 2.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,529 shares of the company’s stock valued at $921,000 after buying an additional 694 shares during the period. Millennium Management LLC raised its holdings in Apogee Therapeutics by 100.0% in the 1st quarter. Millennium Management LLC now owns 260,335 shares of the company’s stock valued at $9,726,000 after acquiring an additional 130,164 shares in the last quarter. AlphaQuest LLC lifted its position in shares of Apogee Therapeutics by 344.6% in the 2nd quarter. AlphaQuest LLC now owns 5,073 shares of the company’s stock worth $220,000 after acquiring an additional 3,932 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of Apogee Therapeutics by 99.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 769 shares of the company’s stock worth $33,000 after purchasing an additional 383 shares in the last quarter. Finally, Moody Aldrich Partners LLC acquired a new stake in shares of Apogee Therapeutics during the 2nd quarter worth approximately $939,000. Institutional investors own 79.04% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on APGE. UBS Group upgraded Apogee Therapeutics to a “strong-buy” rating in a research note on Wednesday, January 7th. Wall Street Zen cut shares of Apogee Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, December 6th. Jefferies Financial Group reaffirmed a “buy” rating and set a $95.00 price objective on shares of Apogee Therapeutics in a report on Monday, February 2nd. Royal Bank Of Canada cut shares of Apogee Therapeutics from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $70.00 to $83.00 in a research note on Thursday, January 22nd. Finally, Citigroup reissued a “buy” rating on shares of Apogee Therapeutics in a research report on Sunday, January 25th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $104.58.

Apogee Therapeutics Stock Down 2.5%

Shares of Apogee Therapeutics stock opened at $69.09 on Friday. Apogee Therapeutics Inc. has a 12-month low of $26.20 and a 12-month high of $84.56. The stock has a market capitalization of $4.72 billion, a P/E ratio of -15.77 and a beta of 1.42. The company has a 50-day simple moving average of $73.21 and a 200 day simple moving average of $59.24.

Insider Transactions at Apogee Therapeutics

In related news, insider Carl Dambkowski sold 5,500 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $65.79, for a total transaction of $361,845.00. Following the completion of the sale, the insider directly owned 211,148 shares of the company’s stock, valued at $13,891,426.92. This trade represents a 2.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Fairmount Funds Management Llc sold 1,750,000 shares of Apogee Therapeutics stock in a transaction on 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 of the company’s stock, valued at approximately $22,786,766.10. The trade was a 85.42% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 1,885,100 shares of company stock valued at $143,557,153. Corporate insiders own 42.77% of the company’s stock.

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 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.