Wellington Management Group LLP Has $74.90 Million Holdings in Apogee Therapeutics Inc. $APGE

Wellington Management Group LLP lowered its position in Apogee Therapeutics Inc. (NASDAQ:APGE) by 87.1% during the second quarter, HoldingsChannel reports. The institutional investor owned 564,326 shares of the company’s stock after selling 3,811,377 shares during the period. Wellington Management Group LLP’s holdings in Apogee Therapeutics were worth $74,903,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in shares of Apogee Therapeutics by 40.5% during the 2nd quarter. GAMMA Investing LLC now owns 309 shares of the company’s stock valued at $41,000 after acquiring an additional 89 shares during the last quarter. Rockefeller Capital Management L.P. bought a new stake in Apogee Therapeutics during the fourth quarter worth approximately $25,000. Los Angeles Capital Management LLC acquired a new position in Apogee Therapeutics during the fourth quarter valued at approximately $37,000. Longfellow Investment Management Co. LLC bought a new position in shares of Apogee Therapeutics in the second quarter valued at approximately $81,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Apogee Therapeutics by 61.7% in the first quarter. EverSource Wealth Advisors LLC now owns 645 shares of the company’s stock valued at $54,000 after purchasing an additional 246 shares during the period. Institutional investors own 79.04% of the company’s stock.

Insider Transactions at Apogee Therapeutics

In related news, insider Carl Dambkowski sold 5,500 shares of the company’s 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Thomas Henderson sold 20,000 shares of the stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $133.63, for a total transaction of $2,672,600.00. Following the completion of the transaction, the chief executive officer directly owned 995,987 shares of the company’s stock, valued at $133,093,742.81. This trade represents a 1.97% decrease in their position. 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. In the last three months, insiders sold 157,400 shares of company stock worth $19,912,045. 24.30% of the stock is currently owned by insiders.

Apogee Therapeutics Price Performance

Shares of APGE stock opened at $135.07 on Thursday. Apogee Therapeutics Inc. has a one year low of $35.39 and a one year high of $135.09. The stock has a fifty day moving average price of $134.13 and a 200 day moving average price of $100.25. The stock has a market cap of $8.40 billion, a P/E ratio of -31.12 and a beta of 0.33.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly earnings results on Monday, August 10th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.07) by ($0.07). Equities research analysts anticipate that Apogee Therapeutics Inc. will post -4.47 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Guggenheim downgraded shares of Apogee Therapeutics from a “buy” rating to a “neutral” rating in a report on Tuesday, June 23rd. TD Cowen cut shares of Apogee Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft downgraded Apogee Therapeutics from a “buy” rating to a “hold” rating and raised their price target for the company from $116.00 to $135.00 in a research report on Monday, June 22nd. Citigroup lowered Apogee Therapeutics from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $125.00 to $135.00 in a research note on Tuesday, June 23rd. Finally, Stifel Nicolaus restated a “hold” rating and set a $135.00 target price (up from $133.00) on shares of Apogee Therapeutics in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $126.77.

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.