Mitsubishi UFJ Asset Management Co. Ltd. Buys New Stake in Apogee Therapeutics Inc. $APGE

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Apogee Therapeutics Inc. (NASDAQ:APGE) during the second quarter, HoldingsChannel reports. The institutional investor bought 4,500 shares of the company’s stock, valued at approximately $597,000.

Other large investors also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. purchased a new position in shares of Apogee Therapeutics during the fourth quarter worth $25,000. Los Angeles Capital Management LLC acquired a new stake in shares of Apogee Therapeutics in the fourth quarter valued at $37,000. GAMMA Investing LLC raised its holdings in shares of Apogee Therapeutics by 40.5% in the 2nd quarter. GAMMA Investing LLC now owns 309 shares of the company’s stock valued at $41,000 after buying an additional 89 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Apogee Therapeutics by 61.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 645 shares of the company’s stock valued at $54,000 after buying an additional 246 shares during the period. Finally, Longfellow Investment Management Co. LLC acquired a new position in Apogee Therapeutics during the 2nd quarter worth about $81,000. 79.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Apogee Therapeutics

In other news, CEO Michael Thomas Henderson sold 20,000 shares of Apogee Therapeutics stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $133.63, for a total value of $2,672,600.00. Following the completion of the transaction, the chief executive officer owned 995,987 shares in the company, valued at approximately $133,093,742.81. This trade represents a 1.97% decrease in their position. The sale was disclosed in a filing 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, insider Carl Dambkowski sold 5,500 shares of Apogee Therapeutics stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $134.17, for a total value of $737,935.00. Following the completion of the transaction, the insider owned 168,498 shares of the company’s stock, valued at $22,607,376.66. The trade was a 3.16% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 162,900 shares of company stock worth $20,344,950 in the last ninety days. 24.30% of the stock is owned by corporate insiders.

Apogee Therapeutics Stock Performance

Shares of NASDAQ APGE opened at $134.75 on Friday. The stock has a market cap of $8.38 billion, a P/E ratio of -31.05 and a beta of 0.34. Apogee Therapeutics Inc. has a 12-month low of $35.39 and a 12-month high of $134.88. The business’s fifty day simple moving average is $129.31 and its 200-day simple moving average is $96.10.

Apogee Therapeutics (NASDAQ:APGE) last released its earnings results on Monday, August 10th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.07). On average, equities analysts forecast that Apogee Therapeutics Inc. will post -4.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

APGE has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft cut Apogee Therapeutics from a “buy” rating to a “hold” rating and raised their target price for the company from $116.00 to $135.00 in a report on Monday, June 22nd. The Goldman Sachs Group set a $89.00 price target on shares of Apogee Therapeutics in a research note on Thursday, May 28th. Rothschild & Co Redburn started coverage on shares of Apogee Therapeutics in a research report on Friday, May 1st. They set a “buy” rating and a $140.00 price target on the stock. Mizuho reissued a “neutral” rating and issued a $135.00 price objective (up from $110.00) on shares of Apogee Therapeutics in a research note on Wednesday, June 24th. Finally, Wedbush cut shares of Apogee Therapeutics from an “outperform” rating to a “neutral” rating and set a $135.00 price objective for the company. in a report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Apogee Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $124.43.

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.