TD Asset Management Inc Purchases 46,050 Shares of Apogee Therapeutics Inc. $APGE

TD Asset Management Inc boosted its position in Apogee Therapeutics Inc. (NASDAQ:APGE) by 55.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 129,290 shares of the company’s stock after acquiring an additional 46,050 shares during the period. TD Asset Management Inc’s holdings in Apogee Therapeutics were worth $9,759,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in APGE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Apogee Therapeutics by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,529 shares of the company’s stock valued at $921,000 after acquiring an additional 694 shares during the period. Millennium Management LLC raised its stake in Apogee Therapeutics by 100.0% in the 1st quarter. Millennium Management LLC now owns 260,335 shares of the company’s stock valued at $9,726,000 after acquiring an additional 130,164 shares during the period. Creative Planning bought a new stake in Apogee Therapeutics in the 2nd quarter valued at about $392,000. Legal & General Group Plc raised its stake in Apogee Therapeutics by 7.4% in the 2nd quarter. Legal & General Group Plc now owns 27,689 shares of the company’s stock valued at $1,203,000 after acquiring an additional 1,907 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in Apogee Therapeutics by 10,570.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 21,768 shares of the company’s stock valued at $945,000 after acquiring an additional 21,564 shares during the period. 79.04% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Carl Dambkowski sold 5,500 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $78.71, for a total transaction of $432,905.00. Following the sale, the insider directly owned 205,648 shares in the company, valued at $16,186,554.08. This represents a 2.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Thomas Henderson sold 20,000 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $82.09, for a total value of $1,641,800.00. Following the sale, the chief executive officer owned 1,115,987 shares in the company, valued at approximately $91,611,372.83. This represents a 1.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 56,500 shares of company stock worth $4,655,695. Company insiders own 24.30% of the company’s stock.

Apogee Therapeutics Stock Up 2.4%

Shares of APGE opened at $85.00 on Wednesday. The business’s 50-day moving average price is $84.20 and its 200-day moving average price is $76.95. Apogee Therapeutics Inc. has a twelve month low of $34.34 and a twelve month high of $95.32. The stock has a market cap of $5.26 billion, a PE ratio of -19.63 and a beta of 0.62.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly earnings results on Monday, May 11th. The company reported ($1.06) earnings per share for the quarter, beating the consensus estimate of ($1.07) by $0.01. Analysts expect that Apogee Therapeutics Inc. will post -4.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on APGE. Truist Financial lowered their price objective on Apogee Therapeutics from $83.00 to $81.00 and set a “hold” rating on the stock in a research note on Wednesday, May 27th. The Goldman Sachs Group set a $89.00 price objective on Apogee Therapeutics in a research note on Thursday, May 28th. Citigroup boosted their price objective on Apogee Therapeutics from $95.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th. Mizuho boosted their price objective on Apogee Therapeutics from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, March 30th. Finally, Wedbush upped their price target on Apogee Therapeutics from $120.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.56.

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.