Jennison Associates LLC Acquires 6,389 Shares of Apogee Therapeutics Inc. $APGE

Jennison Associates LLC lifted its stake in Apogee Therapeutics Inc. (NASDAQ:APGE) by 1.1% during the first quarter, HoldingsChannel reports. The firm owned 585,016 shares of the company’s stock after purchasing an additional 6,389 shares during the period. Jennison Associates LLC’s holdings in Apogee Therapeutics were worth $49,241,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in APGE. Rockefeller Capital Management L.P. bought a new stake in Apogee Therapeutics during the 4th quarter valued at about $25,000. Los Angeles Capital Management LLC purchased a new position in shares of Apogee Therapeutics during the fourth quarter worth approximately $37,000. Quantbot Technologies LP purchased a new position in shares of Apogee Therapeutics during the third quarter worth approximately $96,000. Seven Fleet Capital Management LP bought a new stake in shares of Apogee Therapeutics during the fourth quarter valued at approximately $136,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Apogee Therapeutics by 34.7% in the second 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 period. Hedge funds and other institutional investors own 79.04% of the company’s stock.

Analysts Set New Price Targets

APGE has been the topic of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Apogee Therapeutics in a report on Friday. Mizuho restated a “neutral” rating and set a $135.00 price target (up from $110.00) on shares of Apogee Therapeutics in a research note on Wednesday, June 24th. Rothschild & Co Redburn began coverage on Apogee Therapeutics in a report on Friday, May 1st. They issued a “buy” rating and a $140.00 price objective for the company. Royal Bank Of Canada increased their target price on shares of Apogee Therapeutics from $82.00 to $97.00 and gave the stock a “sector perform” rating in a report on Monday, June 8th. Finally, Truist Financial cut their target price on shares of Apogee Therapeutics from $83.00 to $81.00 and set a “hold” rating on the stock in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $121.25.

Insider Transactions at Apogee Therapeutics

In other Apogee Therapeutics news, insider Carl Dambkowski sold 26,400 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $132.60, for a total value of $3,500,640.00. Following the completion of the transaction, the insider directly owned 179,248 shares in the company, valued at approximately $23,768,284.80. The trade was a 12.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Thomas Henderson sold 80,000 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $132.54, for a total transaction of $10,603,200.00. Following the sale, the chief executive officer directly owned 1,015,987 shares of the company’s stock, valued at approximately $134,658,916.98. The trade was a 7.30% 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 sold 182,900 shares of company stock valued at $21,711,585 over the last quarter. 24.30% of the stock is currently owned by corporate insiders.

Apogee Therapeutics Trading Up 0.1%

Shares of NASDAQ:APGE opened at $134.15 on Tuesday. The company has a market capitalization of $8.30 billion, a PE ratio of -30.98 and a beta of 0.32. Apogee Therapeutics Inc. has a 12-month low of $34.34 and a 12-month high of $134.32. The business’s fifty day simple moving average is $104.47 and its 200-day simple moving average is $86.46.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly earnings data on Monday, May 11th. The company reported ($1.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.07) by $0.01. Research analysts predict that Apogee Therapeutics Inc. will post -4.45 EPS for the current year.

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.