AlphaCentric Advisors LLC Reduces Stock Holdings in Apogee Therapeutics, Inc. (NASDAQ:APGE)

AlphaCentric Advisors LLC reduced its position in Apogee Therapeutics, Inc. (NASDAQ:APGE) by 33.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,649 shares of the company’s stock after selling 2,851 shares during the quarter. AlphaCentric Advisors LLC’s holdings in Apogee Therapeutics were worth $256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Apogee Therapeutics in the 3rd quarter worth about $71,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of 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 purchasing an additional 285 shares in the last quarter. Wexford Capital LP purchased a new position in shares of Apogee Therapeutics in the third quarter worth about $230,000. Intech Investment Management LLC bought a new stake in shares of Apogee Therapeutics in the third quarter valued at approximately $300,000. Finally, Valence8 US LP purchased a new stake in shares of Apogee Therapeutics during the 3rd quarter valued at approximately $308,000. 79.04% of the stock is currently owned by institutional investors.

Apogee Therapeutics Stock Performance

NASDAQ:APGE opened at $36.54 on Monday. Apogee Therapeutics, Inc. has a 52-week low of $33.14 and a 52-week high of $72.29. The stock has a fifty day moving average of $43.06 and a 200 day moving average of $48.08. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of -15.10 and a beta of 2.18.

Insider Buying and Selling at Apogee Therapeutics

In other Apogee Therapeutics news, CEO Michael Thomas Henderson sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $46.58, for a total value of $698,700.00. Following the completion of the transaction, the chief executive officer now owns 1,324,487 shares of the company’s stock, valued at $61,694,604.46. The trade was a 1.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Carl Dambkowski sold 3,520 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $40.69, for a total transaction of $143,228.80. Following the completion of the transaction, the insider now directly owns 252,623 shares in the company, valued at $10,279,229.87. The trade was a 1.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 63,810 shares of company stock valued at $2,903,556 in the last 90 days. Corporate insiders own 36.10% of the company’s stock.

Analyst Upgrades and Downgrades

APGE has been the subject of a number of recent research reports. Canaccord Genuity Group assumed coverage on shares of Apogee Therapeutics in a research note on Monday, November 25th. They issued a “buy” rating and a $89.00 price objective for the company. Wedbush lifted their price target on Apogee Therapeutics from $87.00 to $90.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Canaccord Genuity Group assumed coverage on Apogee Therapeutics in a report on Monday, November 25th. They set a “buy” rating and a $89.00 price objective on the stock. Finally, Guggenheim restated a “buy” rating on shares of Apogee Therapeutics in a research note on Monday, February 10th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $89.71.

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.