Seven Grand Managers LLC Acquires Shares of 50,000 Apogee Therapeutics Inc. $APGE

Seven Grand Managers LLC acquired a new stake in Apogee Therapeutics Inc. (NASDAQ:APGE) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 50,000 shares of the company’s stock, valued at approximately $3,774,000. Seven Grand Managers LLC owned 0.07% of Apogee Therapeutics at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of APGE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Apogee Therapeutics by 2.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,529 shares of the company’s stock valued at $921,000 after purchasing an additional 694 shares during the period. Millennium Management LLC grew its holdings in Apogee Therapeutics by 100.0% in the first quarter. Millennium Management LLC now owns 260,335 shares of the company’s stock valued at $9,726,000 after purchasing an additional 130,164 shares during the period. Creative Planning acquired a new stake in Apogee Therapeutics in the second quarter valued at approximately $392,000. Legal & General Group Plc grew its holdings in Apogee Therapeutics by 7.4% in the second quarter. Legal & General Group Plc now owns 27,689 shares of the company’s stock valued at $1,203,000 after purchasing an additional 1,907 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in Apogee Therapeutics by 10,570.6% in the second quarter. Russell Investments Group Ltd. now owns 21,768 shares of the company’s stock valued at $945,000 after purchasing an additional 21,564 shares during the period. 79.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on APGE. Royal Bank Of Canada dropped their price objective on Apogee Therapeutics from $83.00 to $82.00 and set a “sector perform” rating on the stock in a report on Monday, March 2nd. Truist Financial dropped their price objective on Apogee Therapeutics from $83.00 to $81.00 and set a “hold” rating on the stock in a report on Wednesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Apogee Therapeutics in a research report on Monday, April 20th. BTIG Research reiterated a “buy” rating and set a $137.00 price target on shares of Apogee Therapeutics in a research report on Wednesday. Finally, Canaccord Genuity Group boosted their price target on Apogee Therapeutics from $89.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.27.

Apogee Therapeutics Stock Performance

Shares of APGE opened at $77.75 on Thursday. Apogee Therapeutics Inc. has a one year low of $34.34 and a one year high of $95.32. The stock has a market capitalization of $4.81 billion, a price-to-earnings ratio of -17.96 and a beta of 0.69. The stock has a 50 day moving average price of $82.41 and a 200 day moving average price of $75.62.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly earnings results on Monday, May 11th. The company reported ($1.06) EPS for the quarter, topping the consensus estimate of ($1.07) by $0.01. On average, analysts predict that Apogee Therapeutics Inc. will post -4.48 earnings per share for the current year.

Insiders Place Their Bets

In other Apogee Therapeutics news, insider Carl Dambkowski sold 5,500 shares of the business’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $84.14, for a total transaction of $462,770.00. Following the transaction, the insider owned 207,023 shares of the company’s stock, valued at approximately $17,418,915.22. The trade was a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Thomas Henderson sold 20,000 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $74.78, for a total value of $1,495,600.00. Following the transaction, the chief executive officer directly owned 1,152,987 shares in the company, valued at $86,220,367.86. This trade represents a 1.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 76,500 shares of company stock worth $6,109,220 in the last three months. 24.30% of the stock is currently owned by corporate 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 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.