Apogee Therapeutics Inc. $APGE Shares Acquired by Rafferty Asset Management LLC

Rafferty Asset Management LLC increased its holdings in shares of Apogee Therapeutics Inc. (NASDAQ:APGE) by 55.9% during the third quarter, Holdings Channel.com reports. The fund owned 65,796 shares of the company’s stock after buying an additional 23,585 shares during the period. Rafferty Asset Management LLC’s holdings in Apogee Therapeutics were worth $2,614,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Lisanti Capital Growth LLC purchased a new position in shares of Apogee Therapeutics during the 2nd quarter valued at approximately $800,000. Fox Run Management L.L.C. acquired a new position in Apogee Therapeutics during the second quarter worth $437,000. Exane Asset Management purchased a new position in Apogee Therapeutics during the third quarter valued at $2,048,000. SG Americas Securities LLC purchased a new position in Apogee Therapeutics during the third quarter valued at $5,333,000. Finally, Candriam S.C.A. acquired a new stake in shares of Apogee Therapeutics in the third quarter valued at about $5,009,000. 79.04% of the stock is currently owned by hedge funds and other institutional investors.

Apogee Therapeutics Price Performance

APGE stock opened at $72.31 on Thursday. Apogee Therapeutics Inc. has a 1 year low of $26.20 and a 1 year high of $84.56. The firm has a market capitalization of $5.02 billion, a PE ratio of -17.14 and a beta of 1.39. The business has a 50 day simple moving average of $72.61 and a 200-day simple moving average of $60.34.

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

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Wolfe Research initiated coverage on shares of Apogee Therapeutics in a research report on Wednesday, January 7th. They set a “peer perform” rating for the company. Jefferies Financial Group reissued a “buy” rating and set a $95.00 target price on shares of Apogee Therapeutics in a report on Monday, February 2nd. Deutsche Bank Aktiengesellschaft began coverage on Apogee Therapeutics in a research report on Tuesday, December 9th. They issued a “buy” rating and a $103.00 target price on the stock. BTIG Research set a $137.00 price target on Apogee Therapeutics in a research report on Tuesday, January 6th. Finally, Craig Hallum restated a “buy” rating and issued a $116.00 price objective on shares of Apogee Therapeutics in a report on Wednesday, January 7th. Three 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $104.92.

Insider Activity

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 20,000 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $75.38, for a total value of $1,507,600.00. Following the transaction, the chief executive officer directly owned 1,212,987 shares in the company, valued at $91,434,960.06. The trade was a 1.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Carl Dambkowski sold 18,700 shares of the stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $77.84, for a total transaction of $1,455,608.00. Following the completion of the sale, the insider directly owned 212,523 shares of the company’s stock, valued at approximately $16,542,790.32. This trade represents a 8.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 1,834,200 shares of company stock valued at $139,739,253. 42.77% of the stock is currently owned by insiders.

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.