AlphaCentric Advisors LLC Makes New Investment in Apogee Therapeutics, Inc. (NASDAQ:APGE)

AlphaCentric Advisors LLC bought a new position in Apogee Therapeutics, Inc. (NASDAQ:APGE) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 8,500 shares of the company’s stock, valued at approximately $499,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in Apogee Therapeutics by 21.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,628 shares of the company’s stock worth $94,000 after acquiring an additional 285 shares during the period. EntryPoint Capital LLC boosted its stake in shares of Apogee Therapeutics by 44.7% during the first quarter. EntryPoint Capital LLC now owns 1,997 shares of the company’s stock valued at $133,000 after purchasing an additional 617 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Apogee Therapeutics during the second quarter valued at approximately $143,000. Kennedy Capital Management LLC bought a new position in Apogee Therapeutics in the first quarter worth approximately $212,000. Finally, Arizona State Retirement System lifted its holdings in Apogee Therapeutics by 4.5% during the second quarter. Arizona State Retirement System now owns 5,993 shares of the company’s stock worth $236,000 after buying an additional 258 shares during the period. Institutional investors own 79.04% of the company’s stock.

Analysts Set New Price Targets

Separately, Wedbush reiterated an “outperform” rating and issued a $87.00 price target on shares of Apogee Therapeutics in a report on Friday, October 25th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Apogee Therapeutics has a consensus rating of “Buy” and a consensus target price of $78.50.

Apogee Therapeutics Stock Up 3.3 %

NASDAQ APGE opened at $56.30 on Tuesday. Apogee Therapeutics, Inc. has a 12-month low of $14.19 and a 12-month high of $72.29. The firm’s fifty day simple moving average is $53.28 and its two-hundred day simple moving average is $48.43.

Apogee Therapeutics (NASDAQ:APGE) last announced its earnings results on Monday, August 12th. The company reported ($0.60) earnings per share for the quarter, hitting the consensus estimate of ($0.60). On average, analysts predict that Apogee Therapeutics, Inc. will post -2.57 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Carl Dambkowski sold 7,335 shares of Apogee Therapeutics stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $40.67, for a total value of $298,314.45. Following the completion of the sale, the insider now directly owns 287,458 shares in the company, valued at $11,690,916.86. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Jane Henderson sold 6,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $48.26, for a total value of $289,560.00. Following the completion of the transaction, the chief financial officer now directly owns 200,871 shares in the company, valued at $9,694,034.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Carl Dambkowski sold 7,335 shares of Apogee Therapeutics stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $40.67, for a total value of $298,314.45. Following the sale, the insider now directly owns 287,458 shares of the company’s stock, valued at $11,690,916.86. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 146,665 shares of company stock worth $7,058,635 over the last 90 days. 36.10% of the stock is currently owned by corporate insiders.

Apogee Therapeutics Profile

Apogee Therapeutics, Inc, through its subsidiary, operates as a biotechnology company that develops biologics for the treatment of atopic dermatitis (AD), asthma, chronic obstructive pulmonary disease (COPD), and related inflammatory and immunology indications. The company primarily develops APG777, a subcutaneous (SQ) extended half-life monoclonal antibody (mAb) for AD; and APG808, an SQ extended half-life mAb for COPD.