HighVista Strategies LLC Raises Stock Holdings in Apogee Therapeutics Inc. $APGE

HighVista Strategies LLC increased its stake in Apogee Therapeutics Inc. (NASDAQ:APGE) by 137.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 107,107 shares of the company’s stock after buying an additional 62,055 shares during the period. Apogee Therapeutics comprises 1.0% of HighVista Strategies LLC’s holdings, making the stock its 24th largest position. HighVista Strategies LLC’s holdings in Apogee Therapeutics were worth $4,255,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in APGE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Apogee Therapeutics by 2.9% during the 1st 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 increased 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 during the last quarter. Creative Planning bought a new stake in shares of Apogee Therapeutics in the second quarter worth about $392,000. Handelsbanken Fonder AB grew its holdings in Apogee Therapeutics by 13.3% during the 2nd quarter. Handelsbanken Fonder AB now owns 8,500 shares of the company’s stock valued at $369,000 after buying an additional 1,000 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in Apogee Therapeutics by 7.4% in the 2nd quarter. Legal & General Group Plc now owns 27,689 shares of the company’s stock worth $1,203,000 after acquiring an additional 1,907 shares during the last quarter. 79.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on APGE. Craig Hallum reaffirmed a “buy” rating and issued a $116.00 price objective on shares of Apogee Therapeutics in a research note on Wednesday, January 7th. Stifel Nicolaus set a $133.00 price target on Apogee Therapeutics in a research report on Tuesday, January 6th. Wedbush boosted their price objective on shares of Apogee Therapeutics from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, March 3rd. Stephens began coverage on shares of Apogee Therapeutics in a report on Tuesday, December 16th. They issued an “overweight” rating and a $95.00 target price for the company. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $95.00 price target on shares of Apogee Therapeutics in a research note on Monday, February 2nd. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $105.82.

Apogee Therapeutics Price Performance

APGE stock opened at $71.90 on Monday. Apogee Therapeutics Inc. has a 12 month low of $26.20 and a 12 month high of $84.56. The firm’s 50-day moving average is $72.21 and its 200 day moving average is $62.30. The company has a market capitalization of $5.00 billion, a PE ratio of -17.04 and a beta of 1.39.

Apogee Therapeutics (NASDAQ:APGE) last issued its earnings results on Monday, March 2nd. The company reported ($1.03) EPS for the quarter, topping analysts’ consensus estimates of ($1.05) by $0.02. Sell-side analysts forecast that Apogee Therapeutics Inc. will post -3.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other Apogee Therapeutics news, insider Carl Dambkowski sold 18,700 shares of the firm’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $77.84, for a total transaction of $1,455,608.00. Following the transaction, the insider directly owned 212,523 shares in the company, valued at $16,542,790.32. This trade represents a 8.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 sale, the director directly owned 298,647 shares of the company’s stock, valued at approximately $22,786,766.10. This trade represents a 85.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,839,700 shares of company stock worth $140,118,083 in the last ninety days. 42.77% of the stock is owned by company insiders.

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.