Apogee Therapeutics (NASDAQ:APGE) Director Fairmount Funds Management Llc Sells 1,750,000 Shares

Apogee Therapeutics Inc. (NASDAQ:APGE) Director Fairmount Funds Management Llc sold 1,750,000 shares of the company’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $76.30, for a total value of $133,525,000.00. Following the transaction, the director owned 298,647 shares of the company’s stock, valued at approximately $22,786,766.10. The trade was a 85.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Apogee Therapeutics Stock Down 2.5%

Shares of NASDAQ APGE traded down $2.05 during mid-day trading on Thursday, hitting $79.86. 686,982 shares of the company traded hands, compared to its average volume of 775,925. The business has a 50 day moving average of $75.01 and a two-hundred day moving average of $54.10. Apogee Therapeutics Inc. has a 1 year low of $26.20 and a 1 year high of $84.56. The stock has a market capitalization of $5.46 billion, a price-to-earnings ratio of -18.23 and a beta of 1.41.

Apogee Therapeutics (NASDAQ:APGE) last posted its quarterly earnings results on Monday, November 10th. The company reported ($1.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.14) by $0.03. As a group, research analysts anticipate that Apogee Therapeutics Inc. will post -3.09 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on APGE shares. Stephens started coverage on Apogee Therapeutics in a research note on Tuesday, December 16th. They issued an “overweight” rating and a $95.00 target price for the company. Royal Bank Of Canada lowered shares of Apogee Therapeutics from an “outperform” rating to a “sector perform” rating and increased their price objective for the stock from $70.00 to $83.00 in a report on Thursday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Apogee Therapeutics in a research report on Wednesday, October 8th. Stifel Nicolaus set a $133.00 price target on Apogee Therapeutics in a research report on Tuesday, January 6th. Finally, Craig Hallum reiterated a “buy” rating and issued a $116.00 target price on shares of Apogee Therapeutics in a report on Wednesday, January 7th. Three research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Apogee Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $105.45.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in APGE. Nisa Investment Advisors LLC grew its position in Apogee Therapeutics by 99.2% during the second quarter. Nisa Investment Advisors LLC now owns 769 shares of the company’s stock valued at $33,000 after buying an additional 383 shares during the period. ANTIPODES PARTNERS Ltd increased its position in shares of Apogee Therapeutics by 41.2% during the third quarter. ANTIPODES PARTNERS Ltd now owns 843 shares of the company’s stock valued at $33,000 after buying an additional 246 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Apogee Therapeutics by 18.0% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,779 shares of the company’s stock valued at $77,000 after purchasing an additional 272 shares during the period. Quantbot Technologies LP bought a new position in Apogee Therapeutics in the 3rd quarter worth about $96,000. Finally, BNP Paribas Financial Markets raised its stake in 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 in the last quarter. 79.04% of the stock is owned by institutional investors.

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 RORγt, a master regulator of T cell-driven inflammatory pathways. By modulating RORγt 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 RORγt inverse agonist currently undergoing early-stage clinical evaluation for moderate to severe plaque psoriasis.