KBC Group NV Buys Shares of 37,843 Apogee Therapeutics Inc. $APGE

KBC Group NV purchased a new position in shares of Apogee Therapeutics Inc. (NASDAQ:APGE) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 37,843 shares of the company’s stock, valued at approximately $3,185,000.

Several other hedge funds also recently made changes to their positions in the business. Swiss National Bank raised its holdings in shares of Apogee Therapeutics by 20.2% in the first quarter. Swiss National Bank now owns 75,600 shares of the company’s stock valued at $6,363,000 after purchasing an additional 12,700 shares during the last quarter. Jennison Associates LLC boosted its holdings in Apogee Therapeutics by 1.1% during the first quarter. Jennison Associates LLC now owns 585,016 shares of the company’s stock worth $49,241,000 after purchasing an additional 6,389 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Apogee Therapeutics by 11.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 6,052 shares of the company’s stock worth $510,000 after purchasing an additional 617 shares during the last quarter. Marks Group Wealth Management Inc bought a new position in Apogee Therapeutics in the first quarter valued at $694,000. Finally, Bank of New York Mellon Corp grew its position in Apogee Therapeutics by 7.3% in the first quarter. Bank of New York Mellon Corp now owns 126,757 shares of the company’s stock valued at $10,669,000 after purchasing an additional 8,673 shares in the last quarter. 79.04% of the stock is owned by institutional investors.

Apogee Therapeutics Trading Up 0.0%

Shares of APGE opened at $134.28 on Friday. The company has a market cap of $8.31 billion, a price-to-earnings ratio of -31.01 and a beta of 0.32. Apogee Therapeutics Inc. has a 1-year low of $34.34 and a 1-year high of $134.40. The company’s fifty day simple moving average is $108.57 and its 200 day simple moving average is $88.02.

Apogee Therapeutics (NASDAQ:APGE) last posted its quarterly earnings results on Monday, May 11th. The company reported ($1.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.07) by $0.01. As a group, research analysts forecast that Apogee Therapeutics Inc. will post -4.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Truist Financial lowered their price target on shares of Apogee Therapeutics from $83.00 to $81.00 and set a “hold” rating on the stock in a research note on Wednesday, May 27th. Stifel Nicolaus restated a “hold” rating and issued a $135.00 price objective (up from $133.00) on shares of Apogee Therapeutics in a report on Wednesday, June 24th. 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 report on Monday, June 8th. Deutsche Bank Aktiengesellschaft downgraded Apogee Therapeutics from a “buy” rating to a “hold” rating and lifted their target price for the company from $116.00 to $135.00 in a research report on Monday, June 22nd. Finally, Wedbush cut Apogee Therapeutics from an “outperform” rating to a “neutral” rating and set a $135.00 price target for the company. in a research report on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $121.25.

Insider Activity

In other news, CEO Michael Thomas Henderson sold 80,000 shares of the business’s 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 transaction, the chief executive officer directly owned 1,015,987 shares in the company, valued at $134,658,916.98. The trade was a 7.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Carl Dambkowski sold 26,400 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $132.60, for a total transaction of $3,500,640.00. Following the completion of the sale, 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 182,900 shares of company stock worth $21,711,585 over the last 90 days. 24.30% of the stock is owned by company insiders.

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.